Standard Bank
Homeloan interest rate incresed without notice!!!

We have an existing home loan account of five years with Standard Bank. We recently applied for an increase to our home loan for building purposes and were told by the Centurion Standard Bank customer service agent that it is of no harm to simply apply and should we not accept the offer, the application can be cancelled with no cost to us as applicants. We received an unacceptably high interest rate offer and decided to cancel the application. In the meantime the bank had went ahead and actually increased our current home loan interest rate by 1.5% without any communication to us. We have now called and visited the bank on several occasions to no avail. The bank just deducted the bond payment from our account which is now R3600 more than we used to pay. This is for our current home loan account of five years. We have emailed the bank a complaint and thus far nobody has come back to us nor fixed the problem for which the bank is solely responsible. It is astonishing that it is obviously dangerous to simply apply at the Standard Bank for anything. This is seriously scary stuff!! We are now having to fight to get our money back and the bond reinstated to its original terms.

Company: Standard Bank
Country: South Africa
City: Centurion

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