Capitec Bank
Robbed of interest

I have a 11 month fixed deposit account started about 4 years ago. Every month funds are deposited into the account to be withdrawn early December. I found out that Capitec is offering up to 6.25% interest in their latest fliers. I queried why I was not getting this interest and was told its because I never said so. I do not understand why this is not done automatically as the account is fixed for 11 months. Does this mean every year I must check what Capitec bank offers and then ask for it. I am almost sure though that if they were offering a lower interest rate that the current 4.25 p/a interest that the account is receiving my rate would be reduced. I would appreciate if they can increase it to the new rate with back pay for the previous months.

Company: Capitec Bank
Country: South Africa
City: Centurion

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