I applied for a personal loan March 2013. I received the loan amount on the 8th of March. What surprise me is that the Loan amount does not reduce despite paying my installment. I was told i will pay R1158 a month but none explained that after payment they will add interest of R500 plus to the Loan account am still owiing. When i realized that this was just not working I called to request a settlement quote and the amount i was given was unbelievable ridiculous. I then requested a statement on the 16th of September and to my surprise the other 2 payment for April and May are missing. I called the call centre but all in vein. Can someone help on the following, provide me with a settlement quote and email me updated statement. In the present case i feel African bank all it does is rob people, because R21500 loan and end up paying R48600. with a difference of R27168.00
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