BANKS play God over your life and approve or decline your application as they see fit. What people dont know is that banks actually dont have the money to give you the home loan. They get money from the Reserve bank equivalent to the deposits they receive on a yearly basis. Example if they get 10 Billion bucks in per year, the Reserve bank will loan them R100 billion meaning a 10% of their deposits. This means the bank is making money from your own salary that is put in your account.The unjust thing they do is that they still charge u a deposit fee for bringing money to them, and when u withdraw cash, another fee is charged.
Posted on: Sat, 22 Mar 2014 13:10:21 +0000
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