First National Bank
Credit Insurance

I opened a revolving credit account with FNB. I was offered a life cover which covers the credit and I was told that it's R3 per thousand rand. The total available to me is R50000 I only used R6000. To my surprise I was charged R150 for the whole R50000 which made no sense to me because I had only used R6000 and expected my insurance to be R18 I then requested a cancellation of this cover but the R150 continued to be deducted I have since paid off the R6000 with interest but the R150 is still being deducted from my account. I requested for a detailed statement of this acc with a day to day interest charged on it I received no response and have requested for the account to be closed but nothing has been done to this regard. What I would like to see happening is the closure of this account, cancellation of the insurance with repayment to me of all the premiums that were deducted as I understood the premium to be R3 per R1000 of the amount that I have used.

Company: First National Bank
Country: South Africa
City: Premier Division

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