First National Bank
Temporary Loan that is not so temporary

I took out a temporary loan of R1000 on the 30th May through the ATM. On the 1st June some other money went into my account (not a R1000) and they took R157 from that money towards the temporary loan. I understand the terms and conditions state that if money's go into your account they will repay the loan but - seriously - R157 - why not wait until the full amount is available and take that. Terms and conditions state that you have 30 days to repay the loan so it only stands to reason that the full amount should be paid when enough money comes in. I hope i am not paying the interest on the full R1000 at the end of the month as in essence i only took out R843 loan and not the full R1000. I think this needs to be looked at because FNB is always promoting using your card to swipe for purchases etc - but how can i do that if i need to withdraw the money so they dont take it for a loan i can repay within 30 days. If i take up this offer i will have to withdraw all my money and keep it under the mattress because the reason for taking the loan is so i have money available to use for purchases. Not very happy with this at all.

Company: First National Bank
Country: South Africa
City: Cape Town

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