I took up a 5 year personal loan through FNB in April 2009. Exactly a year later, my instalment was increased by R117 per month even though there were no upward interest rate movements since. When I asked for a settlement figure last week, I was told that my settlement amount comes to more than the total of the remaining 12 instalments. I then logged a query with them to explain why the instalment amount changed and why my settlement amount is higher than my outstanding capital balance. The call centre agent (Letitia) told me that I have to wait 5 working days for a response. It is now 8 working days later and every time I call FNB, they say that someone will contact me in 24 hours because it was escalated to an admin manager. How many more 24 hour periods do you need? Will you get back to me before the settlement amount expires tomorrow? Seems like delay tactics to get another month's interest. Maybe they'll contact me if I report them to the banking ombudsman for breach of contract.
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