Absa
Rather go to another bank for a personal loan

I applied for a loan in April 2013 for an amount of R100 000. I have been making my payments in the amount of R1990 every month since. Today I asked for a settlement letter. I was informed that my oustanding balance is R97 477.80. How is it possible that after 6/7 months of paying almost R2000 is my balance only down with R2522.20? Even with the interest of 11% the amount should be in the vicinity of R92000? The call centre cannot give me answers and instructed me to go see my branch. Why then have a call centre if they cannot assist?

Company: Absa
Country: South Africa
City: National

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