cN
cheryl N

1 reviews | Active since Feb 2011

12 Nov 2020, 10:13

********* Loan Term/Repayment

I emailed a complaint through in July 2020 regarding my revolving loan ref ***. It was a loan of R36900 with a 64 month repayment period. To date I have paid back approximately R85000 however, this loan still still sits at the complete original amount R36900 owing. As per NCA, interest and loan fees cannot be more than the original loan amount. I have banked with standard bank for almost 20years and as a registered financial advisers your institution definitely does not have the customers best financial needs as a priority. If clients were advised the repayment would exceed four times the loan amount people will not take out the loan. It's been more than 3 months and I have not received feedback.

0
Replies (1)
Standard Bank
Standard Bank's reply12 Nov 2020, 15:18
Official
Hello Cheryl

Thank you for posting your comments. 
Your matter was escalated accordingly. We will revert to you as soon as possible. 
Kind regards 
Complaint Resolution Centre 
***
***