April 3, 2020

FNB Statement Confirming COVID-19 Relief

We are pleased to announce that from 1 April – 30 June 2020 we will implement COVID-19 cashflow relief measures to provide relief to individual clients whose financial stability has been impacted by COVID-19. Our interventions will assist clients that demonstrate sound banking behaviour, such as having honoured their repayments to the bank on a consistent basis prior to COVID-19.

For qualifying individual clients, the COVID-19 cashflow relief measures will be for all FNB lending products. The measures will be available for a period of three months and cover the following:

  • Instalment cashflow relief, during which no instalments/repayments will be due for the three-month period;
  • A preferential interest rate will apply to the COVID19 relief interventions given;
  • No initiation fees will be charged for any relief granted;
  • Assistance with processing credit insurance claims, where possible.

We ask you to take note that interest and fees will continue to accumulate on outstanding balances. We also encourage all clients that can honour their financial obligations to continue servicing their repayments.

For those clients that do not qualify under the current criteria, together with the Banking Association of South Africa (BASA) and the banking industry, we are also assessing potential financial solutions.

Should you need to get more information on the COVID-19 cashflow relief measures, or if you find yourself in a situation where you are financially negatively impacted due to COVID-19, and meet the criteria above, go to the FNB App > COVID-19 for further information and instructions.

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