Standard Bank
Wrong information given regarding jumpstart loan

I applied for the 104% jump start home loan in 2013. Standard Bank gave me an insane interest rate of 11.79%. Before signing i kept on asking when the interest rate will be reduced and everyone told me when the loan is 1 year old. Now when i phone the home loans dept the tell me it will decrease when i pay off the extra 4%. The original amount of the 4% was R25 200 and is standing now on R29 849.05. My debit order goes off each month and i do not have extra money to put towards the loan. So in fact, my interest rate will not be reduced if my loan is 1 year old and Standard Bank will continue draining me of all my money for telling me and making me sign the 104% offer. If I received the correct information i would have never taken up this loan. Please will Standard Bank contact me regarding the correct information and someone i could speak to regarding this problem and how we can sort this out.

Company: Standard Bank
Country: South Africa
City: Homeloans Department

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