I received a call from a reputable bank telling me that they are willing to lend me money for six months without interest. When I heard it, I thought it was too good to be true. I was going to take it up when they told me that there is “only” an administrative fee of 1.5%. They keep on telling me that the administrative fee is not an interest. I scolded the staff for misrepresentation but he insisted that it wasn’t an interest. I cannot imagine how many people they have cheated.
I know the person is a staff from the bank and not an outsourced overzealous untrained telemarketer. I know it because the original purpose of the call to me was regarding certain unrelated personal banking matters. This means they called me because I am their client. Is this how the bank treats their clients by trying to ......