Home Loans News: FNB, Saambou
FNB have agreed to refund 50 000 former Saambou clients about R154 million for interest charged on their home loans.
According to reports the FNB announced that it will refund those clients who were charged too much interest on the home loans prior to FNB’s acquisition of Saambou’s home loan book in 2002.
Saambou collapsed in 2002 after investors lost faith in the bank and witdrew their deposits, sparking a run on the bank.
New deadline set for Saambou claims