1 reviews | Active since Dec 2015
********* towards client wrt repayment amount
I app**** for a readvance of R50 000.00 on my current homeloan. When I enquired about the repayment inside the Tyger manor branch, I was told that it is R1000 for every R100 000 borrowed, hence my additional payment should be R500 on R50 000.00 borrowed. <br> When the first debit order went off a few days after the payout, the payment increased with R1600 for R50 000 borrowed. I have not received one single document with the revised amouny prior to me accepting the loan. I only received the one verbal as mentioned above. I lodged a query 2 months ago and kept on following up only to receive an email today stating that the amount remains unchanged due to the term of loan and that I can change that by lengthening my bond term. I have calculated that I will be repaying in excess of R250 000 for a R50 000 loan. The way that this was handled by Standard Bank is unacceptable and I would not have taken the loan had I have known the repayment amount, especially with increasing interest rates. My rate is 9.5% on my homeloan. The person that mostly escallated my queries and tried to help me is Marcelle van Rheede and she also queried why I did not receive the repayment amount in writing.
