FNB vs ABSA vs Nedbank

munchies

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Mar 18, 2015
Messages
113
Hi Guys,

I'm with ABSA and wanted to increase my home loan amount to expand my wifes business. When I approached ABSA it took them forever to come back with a response and they wanted to increase my interest rate drastically! I've been banking with them for 20 years and never had any bounced debit order or ever gone into arrears. So i decided this would be a good opportunity to move to another bank.

I first went to FNB and had an alright experience. Sent all my docs and had a positive response but the interest rate wasn't amazing and it took them 2 weeks to give me an answer. So I tried Nedbank. All I can say is wow! Submitted the application online in the morning, had a response by the afternoon, someone called me in the evening to arrange to see the property and bam the next day I had the quotation with a great interest rate! Now I told this to the lady at FNB and she said she should be able to get the same rate. But my question is, why should I? Nedbank have given me by far the best service.

Anyone got some advise around their experience with FNB and Nedbank? Also their "Platinum" banking service (although if its anything like ABSA's its just a farce).

Thanks.
 

heartbroken

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Apr 2, 2010
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2,307
I had the opposite, Nedbank never even bothered trying to help me, where with ABSA it went from application to signed and sealed in 3 days.
 

munchies

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Mar 18, 2015
Messages
113
It doesn't make sense!. You probably find the banks are so focused on new customers they forget about their existing loyal customers!
 

evilskaap

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May 13, 2008
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1,140
My homeloan is with Nedbank, had the best bond application service from them, and the best rate. I bank with StandardBank and the bond application was painful!

Go with Nedbank, they want you as a customer, FNB clearly doesnt!
 

Chevron

Serial breaker of phones
Joined
Oct 2, 2007
Messages
25,904
Hi Guys,

I'm with ABSA and wanted to increase my home loan amount to expand my wifes business. When I approached ABSA it took them forever to come back with a response and they wanted to increase my interest rate drastically! I've been banking with them for 20 years and never had any bounced debit order or ever gone into arrears. So i decided this would be a good opportunity to move to another bank.

I first went to FNB and had an alright experience. Sent all my docs and had a positive response but the interest rate wasn't amazing and it took them 2 weeks to give me an answer. So I tried Nedbank. All I can say is wow! Submitted the application online in the morning, had a response by the afternoon, someone called me in the evening to arrange to see the property and bam the next day I had the quotation with a great interest rate! Now I told this to the lady at FNB and she said she should be able to get the same rate. But my question is, why should I? Nedbank have given me by far the best service.

Anyone got some advise around their experience with FNB and Nedbank? Also their "Platinum" banking service (although if its anything like ABSA's its just a farce).

Thanks.
Just looking at the thread title I was already thinking Nedbank.
 

patrick

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Dec 14, 2005
Messages
3,111
With a homeloan just shop around for the best deal. Don't bother trying to pick the best bank as you likely won't get the best rate there.
 

DominionZA

Executive Member
Joined
May 5, 2005
Messages
8,268
With a homeloan just shop around for the best deal. Don't bother trying to pick the best bank as you likely won't get the best rate there.
This. Best rate is all that matters.
In my case, Std Bank @ 6.5%. Only because my wife works there. Personally, I can't stand this bank - but we get the best rate there. So...
 

midnightcaller

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Jul 24, 2010
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2,086
It doesn't make sense!. You probably find the banks are so focused on new customers they forget about their existing loyal customers!
This is true.
I have been with Nedbank for 20years and they treat me like s h i t when I want something.
I have
Personal Current account
Credit cards
Bond account
Home insurance
Life assurance
Business account
Investment account

Where possible, moving over to Capitec and virgin money now
 

Goliath

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Joined
Jun 11, 2008
Messages
1,364
I had the opposite, Nedbank never even bothered trying to help me, where with ABSA it went from application to signed and sealed in 3 days.
Same here, Absa was great and I didn't even bank with them.. I'm with FNB and their service is horrible regarding home loans etc!
 
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