Nedbank
Interest charged on insurance for personal loan??

Upon examining my statement for my personal loan with Nedbank I discovered that I am paying interest on the account admin fee and on the insurance I am required to pay.

I contacted my closest brach (Eastgate) who referred me to the call centre for account queries. I left my details with the call centre agent and a few days later I received an email from Priti David explaining that yes it was interest on the admin fee and insurance as well as on the principal amount borrowed.

I am not happy about being the interest being levied on these items, I do not think it is ethical and I did not agree to pay interest on these charges.

I raised my concerns with Priti David who has since ignored my emails and her office numbers just rings.

I sent a complaint to Nedbank via their website to which I have received no response.
I have called the customer complaints call centre and been hung up on.

The last communication I have received from Nedbank was on 04.02.2013. I am about to take this matter to the banking ombudsman to see if they will be able to get a response from Nedbank.

Company: Nedbank
Country: South Africa
City: Eastgate

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