I been banking at Fnb for years, been a happy customer for a long time until now. 3 Years ago I was able to take out a loan from Fnb, was charged 32% interest because it was my first loan. I kept my loan up to date paying extra every month for the past 3 years.
I applied for another personal loan and qualified for a loan of R94 000 at a much better 17% interest. Only needed R35 000 which I wanted to use to settle the outstanding amount of my previous loan and pay less interest.
Although I have been working at the same company in the same position for 5 years and that was sufficient for my first loan application, now all of a sudden I am a Temp at the company according to Fnb and they wont give me the loan at a better rate.
Nothing has changed at work and I have a good credit record never missing payments.
Why could I get a loan then but not now if nothing changed and I have a good credit score?
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