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Nedbank announces new coronavirus financial relief measures – including help with home loans and overdrafts

Nedbank has expanded its relief measures and assistance for financially stressed clients to assist with overdrafts, home loans and certain waivers to merchants during the Covid-19 pandemic.

The bank said that from April – June 2020, it will be offering clients that have an overdraft facility a temporary rebate. This rebate will be equivalent to a 100 bps or 1% interest rate reduction on the utilisation of their overdraft facility.

“Clients won’t need to call us to do this,” said Anton De Wet, chief client officer: Retail and Business Banking.

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