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Standard Bank offers payment holiday to customers earning R7,500 or less

Standard Bank customers earning R7,500 or less will receive three months’ instalment relief on their personal accounts — provided they are not in arrears — within days.

The announcement was made by the bank on Sunday as part of its efforts to help customers navigate their financial commitments as Covid-19 makes an impact on the livelihood of people across the country.

“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,” said the bank’s CEO of personal and business banking, Funeka Montjane.

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