Covid-19: More relief measures for banking clients

FNB has also stepped up to provide much-needed financial relief for banking clients in South Africa.

Standard Bank announced a second wave of relief for its customers yesterday.

In a statement released earlier today, FNB stated the aim of the reprieve for the bank’s clients is to ensure that all customers can continue to keep their financial affairs in order through the 21-day national lockdown.

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The relief will come into effect from April 1 and will run until June 30 and will be aimed at individual and business customers whose financial stability has been impacted by Covid-19.

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The interventions will assist customers who demonstrate sound banking behaviour, such as having honoured their repayments to the bank on a consistent basis prior to Covid-19.

For customers who qualify, the Covid-19 interventions will be for all products held with the bank for a period of three months and cover the following:

• Instalment cash flow relief, during which part or no instalments or repayments will be due for a specific period.
• A preferential interest rate will apply to the Covid-19 relief interventions given.
• No fees will be charged for any relief granted.
• Assistance with processing credit insurance claims, where possible.
• Individualised bridge facilities for those who need it. Interest and fees will continue to accumulate on outstanding balances.

Individuals and business customers can contact the bank through digital and assisted banking channels to enquire about these services.

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