On 12 Oct I went to FNB Centurion to apply for an extension to my sons study loan. I was kindly assisted and a quotation was given to me after I had provided the necessary documentation. I accepted the quotation with te proviso that I do not want to pay insurance but rather cede a policy to cover the loan. I had to provide a list of policies that were available for cession. Today I receive a new quotation with a interest rate 3% higher than on the initial quote. and told to sign. Why? Isnt the fact that I had accepted the initial quote a binding contract? I applied early for this loan as I can get 10% discount on the tuition fees if I pay before end of November, now everything is in the balance. FNB Do you know what you are doing? Or are contracts not binding to you?
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