I had a personal loan from Direct Axis and received a statement dated 12 Feb 2013. The outstanding capital amount on the statement was indicated as R61 950.39. As they are charging a whopping 27% interest rate I decided to pay off the loan, but it was too late to stop the debit order, so I deducted the installment for the end of February (R2043.45) and paid R59906.94 in by 21 Feb 2013. as per my calculations the total is then R61 950.39, which is the outstanding amount.
Low and behold another payment was deducted this month of R 2043.45 and when I contacted them they told me that another R1400 was outstanding on their books.
I pertinently asked when I took out the loan if there will be any penalties involved and was assured that there are none and now I must pay R3500-00 interest on money that I do not owe
Please - if you can - stay away from this service provider - you can do without their "service"
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