I like to know exactly how and why I am being charged, and the calculations with that.
It gives me a sense of control. It just gives me more control through proper planning.
Here is the question:
How does FNB calculate their interest on a Smart Loan?
According to what I have worked out in my self-built spreadsheet, they’re charging me to much interest.
I tried contacting the call centre but the person on the other side was useless. He sent me a statement, that I have on online banking.
So I still don’t know if the calculations are wrong on my side, or on their side.
Does somebody have the formulas or a spreadsheet?
Other loan product formulas would be great too.
P.S. The service in every organisation was so disappointing this week, that I would much rather become a hermit that lives off the land. This coming from a city slicker.
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