My husband and I went into the Nedbank N1 City branch on the 25/9 to see if we would qualify for a personal loan, advising the consultant that we are going to different banks to see for the best rate and also who would approve the amount we wanted. The consultant advised that the application would be going to credit dept and we would be contacted the next day to advise the outcome. However the next day he gets a sms advising that the loan had been approved and that the funds would be paid over. He immediately notified me and I then called the bank, the consultant was on lunch and I then spoke to the her line manager who told me they have a 24hr period and they normally notify the consultant which in this case was not done. I informed her of what has happened and she said she would contact the personal loans department to have the loan cancelled.
Its been a back and forth process since that day, and still they are refusing to cancel the loan and are expecting us to pay the R1140 initiation fee which we are refusing to do as we had make it clear that we were going to other banks and how do you just pay out a loan without informing the person of anything.
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