Biggest regret of my life
It was my first time buying a car through a dealership. I purchased the loan through them after a very quick decision. I am now paying $44200 for a $28000 car. Biggest regret of my life and a mistake I won’t make again. NAB loans are much better because you can pay them off quicker without any extra fees.
Worst margin loan in Australia - they margin calls process is made up and dodgy
With St George margin loans the bank says it will trigger a margin call whenever the account falls into the margin call bracket. The truth is a margin call is rarely triggered when the account falls into the margin call bracket.
At best the bank will trigger a margin call when it falls into this brackets after close of trade and perhaps when interest is capitalised. The bank provides no confirmation of when a margin call will be triggered when you seek clarification.
The most and just about the only role you need a margin lender to do is pr...ovide clarity on when a margin call will be triggered. This bank operates like a Nigerian con artist and any explanation on when a margin call will be triggered is vague and ambiguous at best and filled with errors. Worst of all with this bank. If you have all blue chip stocks, when a margin call is triggered you will more than likely be forced to sell nearly 50 percent of your portfolio at a very low price. That is right, you will be forced to sell nearly 50 percent of your portfolio within one or two days at a very low price. The customer service was good 10 years ago but they are so so bad now. Stay away from this company otherwise you risk losing large parts of your life savings. They are dodgier than a Nigerian con artist.
Monthly Admin Fees (or $112.05) on a $0 owing loan
I've finally managed to payout my loan and creditcard with St George Bank. Go into the bank to finalise and close both only to be told that to finalise my loan it'll cost me $112.05 or I'll have to continue paying the admin fees until my term finishes in 5months (which with admin fees its only $60 total) and don't get me started on the hardship I faced paying both these off with St George Bank literally leaving me homeless and starving for 12months. And now turning around and saying I gotta pay them more of my money!? I understand early termina...tion fees, but how can they justify a termination payout that's more than what you pay to simply leave the loan open? Or better still how can you justify admin fees on an account with nothing owing? Just what administration would you even need to do on an account with no activity? Honestly with the way St George Bank has treated me these last 2 years is beyond atrocious and I WILL DEFINITELY NOT RECOMMEND SIGNING YOUR SOUL TO THEM! They'll bleed you dry and don't believe for a second if you find yourself without an income that they'll help you, they'll leave you starving and homeless and hit you with fee after fee when you don't give them what little you have left! "Discover how we will help you..." they'll bankrupt you
Terrible customer service
St george personal loan department are useless and every time I ring them they put me in hold for at least half hour usually because they have no idea what there doing. They are always rude and unhelpful. They have the highest interest rates in the business and lots of hidden fees. If you want a bank that looks after you I'd definitely shop around before choosing this bank.
Happy customer =D
I recently changed banks from Commonwealth to St George and I'm happy with my decision. CommBank stuffed up way too many times from telling me I wasn't a citizen of Australia [I was a member with them since I was 6!] to making errors with my name change [got married]. So I changed to St George and was really happy with the customer service and the smooth transition of changing bank accounts and my personal loan over. 2 thumbs up from me!
Customer service, happy to help with any questions however silly.
Interest rate too high
I was looking for a loan to fund the installation of solar panels. I needed $10,000. I put in an application in online. The system had a method of saving my application and coming back to it later. I used this facility because it was invovled. Then later went back to it and the system couldn't locate it. Fortunately, when I rang in the next day the operator found it and we completed it by telephone. They asked for payslips and othe documents to be emailed. I waited ages that I thought they had forgotton about me. The interest rate was ...10.99% which was high. I actually went with another company: People's Choice Credit Union because of their better interest rate - see my review under Australian Central Savings and Loans. High interest rate, sloppy online application system.
In the end, the best loan is usually the one with the lowest fees and rates. It's just as easy, really, to go to a credit union or elsewhere for much more competitive rates and less fees.
Easy to get, simple enough process with online applications, lots of branches for signing paperwork. St George staff are usually very friendly and helpful.
High interest rates, like most banks. Lots of fees for setting up, missing payment etc.
Questions & Answers
i have 11.9 percent interest for personal loan for 30 000
i have made over the 4 months over 2000 of repayments
my interest payments for this period is 1130$
please explain how this amount of interest over four months is 11.9%
over 2000$ of repayments and have been charged 1130$ in interest this amount of interest is like 50% not 11.9%
i feel i have been scamed and want to get another borrower to pay it out
The interest is calculated over 12months. Initially the interest (first few months) will be calculated higher per month (around $289-$300) but after first year the monthly interest is calculated at $250ish... and get lower as you pay off the loan. if you check the calculator it'll give you a better overview of what to expect. The interest rate does look reasonably correct but if you're unsure and want it explained you can always ask someone at St George to explain the interest etc or maybe if you know an accountant they could help you understand the maths behind interest rates. You can find the calculator on St George website or use a third party calculator by searching Google
|Interest Rate||from 12.99% p.a.|
|Comparison Rate||from 14.06% p.a.|
|Repayment Frequency||Fortnightly, Monthly and Weekly|
|Loan Amount||A$2,000.00 to A$80,000.00|
|Security||Unsecured and Vehicle|
|Loan Term||1 to 7 years|
|Rate Type||Fixed and Variable|
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