Standard Bank
Moving to ABSA

I would like to express my disappointment in the way Standard Bank deals with existing customers.

I have been an account holder with Standard Bank for 10 year now. Both (My wife and I) of our vehicles are financed with Standard Bank.
In the last 6 months we had 2 incidents were we applied for a home loan and vehicle finance.

Six months ago we applied for a home loan with Standard Bank, the loan was approved but with an interest rate of around 10% .
We then requested they reconsider the interest rate. We basically got a NO answer from them.
We applied at ABSA and received a 100% loan with an interest rate 8.6%.

Recently we applied for vehicle finance from you, as both our current vehicles are financed with you. Again the loan was approved with and interest rate of 10.1% and again we attempted to negotiate the rate with NO being the outcome. We then applied at ABSA and received a loan with an rate of 8.1%.

What it comes down to is that ABSA was willing to give as a lower interest rate (2% lower) without having to negotiate or ask them to reconsider the rate.

For me it is extremely upsetting to receive this kind of service from a Bank were we have been doing

Company: Standard Bank
Country: South Africa
City: Home Loans / Vehicle Fin

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