Standard Bank
Standard Bank's loyalty rewards in 7 easy steps

1) Be an SB client for more than 10 years
2) Earn more than R1.2M annually
3) Have 2 bad months in Dec/Jan - serious illness of your son and more than R100k of unplanned medical expenses lead to debit orders and 1 homeloan payment bouncing (because you forgot about weekend delays where the bank takes your money in 1 account, but doesn't show in the other until 1 working day later)
4) Settle the debit orders the next day, inform the bank of the crisis and and make arrangements with them to repay the 1 late payment over 3 months
5) Apply for a R250k homeloan extension (total after the increase is less than 50% of the bank value of your property). Inform them the extension will be used to fund renovations that you've been paying for in cash which will free up cash and solve the problem
6) Fully disclose the circumstance around the default, and submit a plan for recovery as part of the application
7) Wait for the call where the bank tells you that your application was unsuccessful because of the Dec/Jan default and they confirm they did not read or consider your reasons for the default or the proof of income you submitted
Then stop expecting loyalty to be rewarded and move!

Company: Standard Bank
Country: South Africa
City: Home Loans

  <     >