EM
Eugene M

1 reviews | Active since Sept 2009

30 Sept 2021, 13:05

Student Loan Interest Overcharge

At the beginning of 2020 we app**** for a new student loan for my son and as advertised by Standard Bank at the time the interest rate would be 9.5%. The application was completed and only after a few months we discovered that Standard Bank was still charging 11%. After numerous call and speaking to branch managers and consulting and just generally wasting my time nothing has been communicated to say that the issue will be resolved. The reference number for this query issued on 17 March 2021 should still be open. As a result of their absolute inability and we don't care attitude, my wife and I managed to sort our finances in such a way that we were able to pay his tuition fees monthly. As a customer for almost 40 years I really think that your service should be better to all South Africans. If this was me owing you, I would have had a ton of lawyers letter and threats by now. I eagerly await your response and resolution to this query.

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Replies (2)
Standard Bank
Standard Bank's reply01 Oct 2021, 02:25
Official
Hello Eugene, 
  Thank you for posting your comment.  We assure you that as an organization we are committed to providing the best possible service and assure you that this will be addressed as a matter of urgency.  We apologize for the inconvenience and undue frustration, this has caused.   We greatly appreciate your continued support   Kind regards, Complaint Resolution Centre
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EM
Eugene M's update08 Oct 2021, 11:24
Reviewer Update
I would like to take this opportunity to thank the Mowbray Branch Manager, Nazley Kleinsmidt and Deidre de Villiers for resolving this issue. It would be amazing if the rest of some of the consultants I was in contact with also went over and beyond the required effort to resolve issues. This is certainly a silver lining for the weekend. Your efforts are much appreciated, and has restored some of my faith in Standard Bank.