Bank of America Corp. - complaint  

Misleading Loan ads

Posted by: James Jayaraj on 18/10/2007

Location: USA, Plainsboro, NJ

I am having Bank of Americal checkin account .I recently received as pamphlet from BOA that they are offering loans at interest rates 8.5% .After calling the Bank I came to know that the Interest rates are 22%APR which is quiet high compared to other Banks .Finally I took a Loan from Northwest Credit Union at Interest rate of 11.5% which is 50% lesser . I am dissappointed by the misleading info from Bank of America and decided not totake loans through the bank

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Comments (1):

katy [13/03/2008]

Hi James. I have to agree with you there. Have you tried Dollar Bank? I am a big fan of them and posted some information about them in the Feedback section of this site. Maybe next time you are looking for something check them out.