In a press release from FNB they announced that they will implement measures to provide relief to individual and business customers whose financial stability has been impacted by COVID-19 from 1 April – 30 June 2020.
For those customers that qualify, the COVID-19 interventions will be for all products with FNB, will be available for a period of three months and cover the following:
- Instalment cashflow relief, during which part or no instalments/repayments will be due for a specific period;
- A preferential interest rate will apply to the COVID19 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.
At the same time together with the Banking Association of South Africa (BASA) and the banking industry they are assessing potential financial solutions for those customers who do not qualify under the current criteria.
- Speedpoint device rentals are waivered and no charge of a minimum fee for some merchants who are
in good standing but operate in distressed industries.
- In April, individual and business customers on FNB Connect will also 1GB of free data to help them stay connected during the lockdown.
- They are also working with industry partners to ensure that customers can use any bank’s ATMs without
paying additional fees over and above the fees charged by their bank.
How to apply:
Individuals and business customers can contact FNB via their usual digital and assisted banking channels to enquire about these services.