Absa
Absa doesn't go the mile

After my offer on a house was accepted, I went to Absa (with whom i have accounts already) in order to get a homeloan. I am a first time home owner, so I didnt expect a fantastic interest rate, but didn't expect the 10.3% they offered me. In the meantime, Standard bank offered me 9.5%, without me needing to get an account with them or anything. I spoke to an Absa advisor, and told them about Standard's offer, and reminded them of the accounts I have at Absa, including my investment account which contains about R50k. I also asked about the account belonging to the business of which I own 30% (and turns R1mil a month), but they would not budge, not even matching Standard's 9.5%. I have since decided to go with Standard, and am moving my personal and business accounts to standard. Why should I stay with a bank that won't do anything for me?

Company: Absa
Country: South Africa
City: Homeloans

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