African Bank
Interest on Loan

I currently have a loan account as well as a credit card with you. I received my settlement for both today. I was shocked to notice the amount of interest as well as the amount of insurance I pay on this account. My original amount was R55000.00 that was taken out. My settlement now is in excess of R59000 this is after paying almost R18 000 towards the loan.

This is surely a mistake made by the program or sales consultant that had adjusted my interest and insurance amount. I asked for a supervisor to contact me or someone in management and have had no luck as of yet. I have been a African bank client for years and you will see my payments are always made on time.

I am going to stop payments until I have sorted this issue out, I either need a rate adjustment and insurance adjustment to be back dated and credited to my account. Or I need a preferred settlement on my account so that I can get rid of this loan, im not willing to pay more than what I loaned after paying R18 000.00 already

please can i get assistance as i have had no feedback for 2 weeks from various consultants and email addresses.

Company: African Bank
Country: South Africa
City: Durban

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