Republic Bank and the Deal on Wheels Promotion

Jul 27, 2018 Letters

Dear Editor,
Please permit me this letter in your column to share a frustrating experience at Republic Bank Water Street Branch.
On 9th May, 2018. I took time off from my job (2 hrs), sacrificed my extra morning rest since school’s out, to have a space in the loan section knowing how that particular department is always crowded.
I went to the Loan Officer produced all my relevant documents; Job Letter, Pay slips, Contract of employment, Confirmation of employment etc, only to hear I am not qualified for the Loan due to my one-year employment contract and having eight months left on the current one 2018.
The Officer further mentioned once the loan approves I will have to pay $35,000 a month on $255,000 to purchase a new Motorcycle since my old one is of age and breaks down a lot.
I said to her that my salary is small and I cannot afford that amount. I got up and walked away because from my observation they didn’t make an effort to assist in any small way. Now tell me this Mr. Editor, how am I to know the Bank’s bylaws states only Permanent employees and contractual employees, maximum three to five years, are qualified for a loan?
Republic Bank needs to educate the public about its bylaws regarding their promotional loans. After realizing I would not get through I further withdrew my entire $100,000 I had secured to process the loan, went to Jialing and made a down payment on my new motorcycle.
Republic Bank does nothing to help the small man only the big kahunas which most times produce fake documents, the loan is approved and they disappear without a trace. I joined Republic Bank since age 16 when my father opened the Early Savers Junior Account at Water Street, the only Branch when the name was National Bank Industry & Commerce (NBIC).
I never forgot that name, being a customer for 16 years and this is the Treatment. I will soon depart. Republic Bank is not considering that back in 2014, I lost my job when I had outstanding payments for a loan I had applied for and was approved.
I received a call enquiring about payments. I mentioned to the officer at that time that I am not working to pay off the balance owed. She then said they would have to take me to court. At that moment I was waiting on a call to be interviewed.
I got through and worked with the highly scented chemicals with my pregnancy just to pay off my outstanding loan and wow! Surprise! Republic Bank does not care and have no feelings and compassion about their loyal customers.
Republic Bank should change that logo “We’re the one for you”. This is not the first or second time Mr. Editor. First it was at the Camp Street location. I further requested to have my file transferred to the Water Street branch thinking that that would help the situation since the staff at Camp Street branch Loans Department treats me the same way.
But I ran from the coffin and meet up with the jumbie. I am a small woman; I do not work for a large salary. That is why I am deeply frustrated and upset that my very bank into which all my money from my job is paid –salary, gratuity, vacation allowance–could not have granted a loan of $255, 000 to assist me to purchase a new motorcycle. For just that small amount then I will soon no longer be that loyal customer anymore.
Republic Bank should quash their Deal on Wheels promotion since it is a waste of time. My advice to the General Public, “Do not waste your time and effort to go and secure a loan for any transaction whether deal and wheels or not.
Once you’re not a permanent worker or on a three to five-year contract you’re not eligible and qualified.
Even the Christmas loans are the same run around. I do not have gifts and toys to secure my loan or have it approved.
I leave this quote for Republic Bank. The purpose of human life is to serve, and to show compassion and the will to help others. (Albert Schweitzer).
Frustrated Customer

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