1 reviews | Active since Sept 2025
Unfair Interest Rate change on existing Student Loan
My daughter has an existing student loan, for 3 years, for a loan amount of R345000, at an excellent interest rate of prime + 0. However, in July we app**** for an increase of merely R22 000... The increase was approved, but the consultant did not inform us that the interest rate on the entire loan would be increased to prime +3.5 %!!!! I would never have agreed to this!!! I would rather have paid the additional R22 000 out of my credit card facility. Unfortunately we only realised the increased interest rate 2 months later... I have tried everything to get Standard Bank to reverse this unreasonable and unfair interest rate hike, but to no avail.
What is my Next? My Next is to move all my new business to another bank, who has my interest at heart, and not their own...Pun intended.
Thank you for bringing this issue to our attention.
As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of.
We sincerely apologise for any inconvenience or unwarranted frustration this has given you.
Kindest regards,
Standard Bank Hello Peter Team
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Thank you for bringing this issue to our attention.
As Standard Bank, we are committed to providing you with the best possible service and will ensure that this issue is taken care of.
We sincerely apologise for any inconvenience or unwarranted frustration this has given you.
Kindest regards,
Standard Bank Hello Peter Team
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