I took out a loan at African Bank and later when I went through the contract I realised that my repayment would be alot less if I used my own Credit Life insurance, I contact Asset Life where my Credit Life policy is held to request then to include my African Bank Loan in the cover and they told me that African Bank is not responding, I called African Bank myself and the response I got is that its a very lengthy process and not advisable but I believe its only an excuse so that they can continue to charge us high fees for Credit Life insurance that benefits them in the long run. According to the NCR a consumer can provide their own credit life policy and the credit provider is welcome to check it and ensure it meets their standard so why does African Bank not allow us that?
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