Nedbank
Why can't my interest rate be reviewed as promised

I have home loan accounts with Nedbank and the last one I took with the bank has a high interest rate. When I initially took that loan I was promised that the interest rate will be reviewed, and I believed that because the other loan's interest rate was indeed reviewed. The other financial institute had offered me an interest rate of 8.5% and Nedbank offered me a much higher one. I opted for Nedbank because I have a transactional account with them and I really believed that our interest rate was going to be reviewed. I at some point felt that Nedbank does compensate you for being a good client and I have made an effort to be a better one. All of a sudden, I request that my interest rate be reviewed (AS PROMISED) and I am told that IT COULD NOT BE REVIEWED, (THE POLICY HAS CHANGED - SO I WAS TOLD). Where is the loyalty of Nedbank? Can we really trust what they tell us or should we just think that it's a lure for us to do business with them OVER OTHER HONEST FINANCIAL INSTITUTES? Why can't it be reviewed?

Company: Nedbank
Country: South Africa
City: Home loan department

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