On the 24 of April I noticed that I will be short on cash, due to all the public holidays in April, so I took up an offer from FNB for a payday loan of R3000 of which I must repay R3390 on the 31st of May. On the 25th of April, my salary was deposited into my account and FNB deducted the full R3390 from my account. I was forced to renew the R3000 loan and had to repay R3390 again by the 3rd of June. I saved R2000 from the initial R3000 into my saving pocket account and had to transfer this into my account at a later stage. FNB then took R717 on the 2nd of May towards the loan repayment. Now I'm short on cash again. I took the loan with the understanding that it is for a month and now already had to pay an additional R390 for the second loan I had to make. This is stupid and one would expect that if it is a loan for 30 days, that one would pay back the full amount closer to 30 days and not the next day. If I knew this, I would have told FNB to stuff their offer. Please sort this out.
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