FNB on Monday announced relief for its customers whose incomes have been affected by the Covid-19 pandemic – no installment payments on personal loans, home loans and car loans for April, May and June, with those amounts to be paid off over time with a “preferential” interest rate and no added fees.
“That’s about 45% of our customers, and the intervention will apply to the 80% of those whose accounts were in good standing before the outbreak,” FNB CEO Jacques Celliers told TimesLIVE.
“We’re giving them some meaningful support, a bit of breathing space for the next three months,” he said.
“It will allow them to take that debt repayment, plus the credit life insurance premium, and refinance them at prime interest rate and no fees.”