STANDARD BANK EXTENDS INSTALMENT RELIEF MEASURES TO PERSONAL ACCOUNT CUSTOMERS
Standard Bank has announced a second wave of relief to help its customer base navigate financial commitments as Covid-19 continues to impact the livelihood of many individuals across the country. The payment reprieve is aimed at easing the financial burden of customers earning R7 500 or less, who will receive three-month instalment relief if they are not in arrears on any of their accounts (as at 31 March 2020). This relief applies to qualifying customers and their associated accounts, which include home loan, vehicle and asset finance, credit cards as well as short term loans. Customers who opt for the relief will see their interest and bank charges capitalised over the term of their loan agreements. This second round of relief comes after Standard Bank’s announcement last week that it would be instituting instalment relief for both SMEs and fulltime students who have taken out loans at the bank. The bank’s small enterprise clients with a turnover of less than...