💯, South African banks do look at the color. I have been banking with FNB from since I started my Company. I make over 2.9m turnover gross per month, about R34m per year gross. I don't owe anyone, but I can't get a loan coz I have low credit score. My question is, how do I boost my credit score if I can't get credit in the first place. I blame our Government for not putting any value to black people in this country. Most of us we are poor not because we lazy, we are poor because no banks wants to fund blacks n our government is aware but they doing nothing about.
Sizwe, with home loans the banks are making profits from insurance premiums and service fee. They make these part of the principal loan on monthly, and charge interest on them - that banks have no business loaning you. But each month they add them onto the principal loan as new loans on monthly basis. They calculate monthly bond repayment inclusive of these, but they again add the same on top of bond monthly amount thereby double charging them. SA Homeloans and Standardbank. Please help us Sizwe and your guests. A relative of mine took a R900,000 Standardbank homeloan in 2005. Has paid back at least R1.8m but the balance is almost R1m after 18yrs. Standardbank extends the term from 20 to 30yrs without telling their clients or reason why - even for pensioners.
I posted this years ago that blacks pay a higher interest rate than their white counterparts. This goes down to salaries at work, white employees get paid more than blacks. Even when it came to performance bonuses blacks get lower than their white counterparts. In my previous work environment a white colleague who was less educated than us blacks was getting paid R6000 more than us in the same position. He mistakenly spoke about his salary and we realized that he gets paid more than us. The odds are stacked against black folks unfortunately. I got attacked by white people accusing me of being racist on X (formerly known as Twitter) for saying that.
only way to dismantle systematic racism is having our own institutions, state owned bank and community bank like the likes of Ithala in this case. It's regrettable that the gatekeepers are the tokenised black CEOs that head the regulatory bodies
Banks should be forced to give out declare how many clients they have, by race and average interest rate per race. Those numbers will tell us the truth on this matter.
This is known fight black people in South Africa pay more interest rates , its a fact not an allegation. The black people who for the bank see it all the time and are powerless. Lets keep fighting them.
ARE TAXES JUST I receive a salary ... I pay Tax. I buy KFC ... I pay Tax from money that has already been taxed ... same goes for every other item I purchase thereafter. All these TAXES are raked in by the GOVERNMENT. Why are we citizens paying Tax upon Tax upon Tax😅 I'm dizzy.
At least Those who pay less at our banks are very fortunate. They have a break somewhere! Where do black people have some break with all these taxes? This is disgusting to say the least! This country really needs serious PRAYERS. 🛐🇿🇦
@@ntetesemela9345 only the board of directors of the banks are fortunate. Pls realize for as long as they keep polarizing us into depts. via colors, genders, race etc we become weaker. Its like throwing a bone to ten hungry dogs ... what happens? Completely forgetting that the bone was once a meaty drumstick.😅 #UnitedWeStand
Black empowerment is unlikely to occur in this nation while we have a leader at the forefront who supports liberal policies. In order for our country to progress, we must implement certain socialist reforms forcefully to uplift the less privileged, along with the support of progressive white individuals. Otherwise, racial divisions will persist as white individuals have chosen not to share with black individuals, unless they control you and accept the crumps. This is precisely why organizations like the EFF play a crucial role in bridging this gap and fostering a more equitable society. Lastly, it is crucial for young people to register and vote for any progressive black organization that will bring about a transformation in the existing state of affairs.
They must investigate all insurance companies who are also committing the same crime of racial practice. We are paying double the price just because we are black.
I think it should compulsory for Judges to disclose where they are owning their shares. I smell conflict of interest here. Fight tata uNdarha. Ungapheli amandla.
this happens all the time. The financial system in S.A. is fraught with corruption . iI am one of the victims of this story from this gentleman and many more south africans i am sure have suffered similar or worse.
No wonder when we going to the bank they would say no you do not qualify for a loan and I have been with fnb so many years but the answer it's a big No
We are all getting screwed by banks. Sabc loves the click bait tho. If you have a home loan keep a close eye on your savings. Beware of being charged double interest.
Majority of black people don't read their contracts, they don't even negotiate and many buy things they cannot afford. The financial education is the problem here
What about ABSA's flexi account. They close your account but don't release the extra money you paid into the account. They claim it is floating in the account.
More then likely and doesn't goverment have a say over every aspect of rules and laws for companies small and big. Hasn't anc been in power for 30 yrs ? It's not fair to call racism after 30 yrs of government that alligns with majority not every single citizen. Maybe there is collusion. But go to the source and the ppl who control thw laws that allowed this.
This presents us with a challenge to once again revisit the issues around the banking sector for financial exclusion. Time is ripe for all anti-African apartheid. Racism must be uprooted! #SACP, #ANC, #EFF, #COSATU, and many other freedom loving people and real democrats. This issue ranks amongst the Israel -Palestine/RSA ICJ proportions.
The system allows all these until there is style audit of judges before is given to cet certain case to give judgement corruption judges are shareholders
I am as well asking myself the same question, the conclusion can not be taken from a small portion of a data, I believe there was no concrete data analysis that was conducted to draw into these conclusions.
Neither one , of these two people / persons appear, to be ignorant ; and are here more than willing to articulate and state the facts with nothing to hide ( forth - coming with facts , of Truth ( clearly ); as usual the culprit isn’t willing , to participate in this dialogue ; ( not surprising , at all ). Racist liars and thieves ; no secret …, how they really feel, about person s, of melon in decent ; read the history ; the “ hatred , exploitation , and disrespect ,; more than real .., but TRUE; still angry , about the defeat, by South Africa , etc ( “ PEOPLE ! …. STOP ! …. DEALING WITH THOSE DEVILS ! Do not forget what their history , has taught the “ WORLD “ “ SHAME FUL “..!!!! …., but .. again …, they TRULY exhibit absolutely “NONE “..!!!…, the Nature, OF THe BEAST …!!!!!!!
This is a great point. I would love to see an investigation on alot of other areas, medical aid, insurence,education,home loans,taxes ,id love to see how those areas are charged to individuals, and staying with this topic, (unfortunately) showing the category of who pays more or less in every single area. I think we all deserve to know. There is alot more then just the banks at play. Would be a great opportunity to show exactly what ppl r paying for , regarding the exact same charges.
Month to month loans you gey given r1000 end of month you payback r1360 this is common practice, this cannot be legal, some dealers get difference in charges as a kickback, very mischievious shennanigans , the process to get justice is not possible, very sad
FNB in particular and other banks and their subsidiaries are guilty as charged. We need to punish them by either buying cash or using Ithala or any other government bank
Let's apply some logic here - by far the most staff in banks are black. Most senior managers are black. Most board members are black. Those black staff, managers and board members charge fellow blacks higher interest. Are we now saying that this is black on black racism?
@noxolotshabangu8055 he has a right to comment same as you. This is a public platform. What gives you the right to comment but not others? Go take your communist bs elsewhere.
Wyte business has price gouged when it comes to black citizens for years. EFF and other progressive parties need to deal decisively with them. Show each one to the harbour.
Actually they should start with organized labor and labor brokers. The poor people working take home half a salary while the rest goes to fat cats for doing nothing. ( eff has admitted to being involved with organized labor). Oh and what about all the money that was stolen from VBS ? eff should hold them accountable and show them the harbor.😂
@noxolotshabangu8055 so if a white guy tries to help you in the right direction you would rather follow a black guy off a cliff because he's black? That's superior logic right there.
Status quo Bhuti! Status quo, that's a fact. We still have a Long Long ROAD TO FREEDOM PARK in this country l That's a fact. At same time we have a government an laws! What a joke of democracy and Best constitution in the world! Sadness indeed.🛐🇿🇦
Thats what consultants do ,they say just sign here and here and you trust them especially when you ask "does this include insurance"answear is yes ...there goes the trust to the bank and consultants!
Let your brain think, just a little if it can. White people are charged lower interest rates(~11%) and Black people(~19%). What does your brain tell you, is that not racist?
Risk and intensity of the interest go hand in hand. It is terrorism blockage and commodity distribution (they are not your or my friends) [they finance you by your decisions and portfolio] care that you don't make a subjective and or biased claim upon proportionality.
So is the government institution water and electricity Rates and taxes motor car licenses Registration TV licenses And so on and so on So don't complain
Judiciary in South Africa has been captured long time ago. I personally have lost hope both in the courts and judges and above all the Constitutional Court ie Apex Court of our Land. Their judgment on matters depends on who you are not what the law and the Constitution says. South African are really in a very difficult period. All the Constitutional arms of the state are Captured by certain individuals who regards themselves untouchables. Hope this will come to an end under the EFF government if given the opportunity by the people of this country to govern the present rotten judiciar system,courts and law agencies according to their positions and investigateive powers per their establishment. Wow.😊
As long as it still continues and your likes are practicing it, we will not stop to call it out, am glad this is exposed, I will never use Westbank ever for me and my generation, I think all black people for that matter should never use this bank, moreover it needs to be sued and penalized millions of rands, board members be criminally prosecuted
As if they will agree for black people to have their own banks. The table had been turned upside down, everything has been rigged. Be a black person just for one day and come back and tell us how did you find it to be?
@@petroguilherme5549 Why should we stop complaining so we can make you comfortable?? No one is keeping you in this country with a gun on your head. Remember that
