SA homeloans admin fees

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Saba'a

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I get a notification of a 42% increase in the monthly ADMIN FEE from SA Homeloans.

How do they justify such an increase? Is their business dependent on Eskom and thus admin cost increasing so much?

Better look out for other bond admin fees as well.

Anyone else experienced such ridiculous increases?
 
Really, your R50 to R57 change works out to 42%?

Well, that's what mine is increasing, R7, so that is like 14%?
 
Last edited:
adielk said:
So you accepting a 14% increase?
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Yes, until you tell us you have been paying the old R36, or whatever it was, fee for many years while mine increased a while ago, then I'll be angry at them at why you got charged so little.

R57 is the maximum, all your motor finance has probably been charging you that from the get go and other homeloan providers probably charge the max as well, never mind the R1140 loan initiation fee.
 
SA Home Loans still charges me the lowest interest on my bond. Not gonna quibble about a few bucks more on admin costs. Small fry at the end of the day...
 
Well was paying less.
Its like gardening service increase by 10%. Accepted as they were cheap in the first place but asked them how they justify above inflation increase w.o increase in service/productivity.
We complain about Eskom but private businesses also increasing costs without increasing value to customer.
Better check ADT as they also lile to increase costs above inflation.
 
If your employer gives you a 6% increase (if you're lucky), you will think its too little because your personal inflation rate is above 10%.

So maybe the businesses increasing it at that rate are realistic, and its stats SA with their fake 6% inflation that should be addressed.
 
Many of my increases below inflation. So 10% increases are businesses who fail to become more efficient or milk you - ADT being a prime example.
 
ABSA according to Noseweek August 2015 also increasing fees by 600% over a 10 year period.
Lovely way to increase profits. An extra R10 x number of bonds.
 
Lmfao,

Geesus, it's 60 ****ing rand. WTF does the percentage matter. 60 ****ING RAND?
Some people are really really anal :o
 
adielk said:
Many of my increases below inflation. So 10% increases are businesses who fail to become more efficient or milk you - ADT being a prime example.
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Not sustainable for any business to increase their prices below inflation, cause inflation itself is fake to most consumers. And what I mean by that is the personal impact to most consumers is far higher than inflation.
 
Last edited:
Pitbull said:
Lmfao,

Geesus, it's 60 ****ing rand. WTF does the percentage matter. 60 ****ING RAND?
Some people are really really anal :o
Click to expand...

It's not just that though...you pay interest on all this for TWENTY YEARS.

Which begs the question why you are paying ANYTHING at all every month when you are being charged interest?

I did the math recently on this, can't find the spreadsheet now, but it was astronomical how much this costs you over 20 years with the base cost and interest combined.
 
SauRoNZA said:
It's not just that though...you pay interest on all this for TWENTY YEARS.

Which begs the question why you are paying ANYTHING at all every month when you are being charged interest?

I did the math recently on this, can't find the spreadsheet now, but it was astronomical how much this costs you over 20 years with the base cost and interest combined.
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Seriously? R 21 increase on an admin fee.

Come on guys... R 21?

How do you pay interest on an admin fee? You pay interest on the loan, they use that admin fee to cover overheads for them administrating your account on a monthly bases. Similar to a broker fee when you have insurance. R 21? :D
 
They add it to the loan every month I believe as an outstanding balance.

Even if they don't it's 240 x R60.

My insurance broker doesn't charge me interest so he's fee is justified.
 
Pitbull said:
Lmfao,

Geesus, it's 60 ****ing rand. WTF does the percentage matter. 60 ****ING RAND?
Some people are really really anal :o
Click to expand...
Its the principle of screwing the customer. Increase above inflation as we please.
Add up all the "little" increases plus eskom plus water plus rates plus only 1% tax rate increase plus possible VAT etc. and it becomes hundreds/thousands.
 
F1 Fan said:
Not sustainable for any business to increase their prices below inflation, cause inflation itself is fake to most consumers. And what I mean by that is the personal impact to most consumers is far higher than inflation.
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Agreed but these above inflation increases result in personal impact of inflation being higher than official inflation.
DSTV had a low increase if I recall correctly. Telkom dropping prices ito what you getting.
Some businesses have no choice eg importers but others eg dstv can afford to reduce costs to consumer.
But I take your point as valid.
 
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