Complaint / Review
Bank of America
Interest Rate Raised To 15.5 Percent On Employee Benefit Loan

I used to work for Bank of America and as an employee they offered a benefit where if you used them to finance your home they would give you a $5000 loan and all you were required to do was pay the interest on it for the duration of the loan. I knew that would change when I decided to leave the company, and was prepared to pay back the remainder of the loan along with a reasonable interest rate... What I was not prepared for was to have my interest rate raised to 15.5%. Both my wife and I are on the loan and both of us have credit ratings over 750. I am not sure how two co-borrowers with such excellent credit ratings could get stuck with a 15.5% interest rate, and I would like to file a complaint