First Hawaiian Bank Consumer Loan Complaint

First Hawaiian Bank Consumer Loan department,

Vehicle loan Taking out the loan or lease Hawaii

We took out a loan with First Hawaiian Bank for 36 months. Because we paid monthly onetime periodically we were offered a deferred payment option as a gift for paying on time. Particularly this was given around -. This was promoted as a good opportunity for the customer but as it turned out this was a tactic for the bank to charge us another year of payments and thereby charge another $ - thereafter because they charged interest everyday on the balance when deferment was offered. This is a deceptive business practice whereby the bank gives the impression the payment will be collected at the end of the 36 months when in all actuality they are charging interest daily which means the customer ultimately pays - the cost of the original loan. This is a unethical business practice whereby the bank can extort extra charges, interest and fees against customers with a good payment history. This is very deceptive how the calculate the added interest opposed to added the deferred payment to the end which already includes the interest when the payment would have been paid. Shame on FHB.