UNAUTHORISED EXTENSION OF CONTRACT TERM BY STANDARD BANK

I am extremely dissatisfied with Standard Bank's handling of my home loan contract. Without any verbal or written agreement, they extended my contract term from

I am extremely dissatisfied with Standard Bank's handling of my home loan contract. Without any verbal or written agreement, they extended my contract term from 20 years to 30 years. When I raised this issue with them, they admitted that they have no records of such an agreement.

I lodged a formal complaint with their complaints department, but their response was inadequate. The only documents they could provide were the original 20-year contract and payment statements—none of which justify the extension.

It is highly concerning that a financial institution can alter a contract without the customer’s consent. This raises serious questions about transparency and accountability. I urge Standard Bank to take responsibility for this issue and correct the contract to reflect the originally agreed-upon terms.

I am sharing my experience here to warn others and to seek urgent resolution from Standard Bank.