Standard Bank extends payment break to personal accounts for low-income earners
Standard Bank clients earning R7,500 or less will qualify for a three-month break from debt related to personal accounts.
That's provided they're not in arrears as of 31 March.
Standard Bank has already announced instalment relief for small business owners and full-time students with loans.
Interest and bank charges will still apply during the three-month period.
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.Funeka Montjane, Chief executive: personal and business banking - Standard Bank
The payment holiday will last from 1 April to the end of June.
This article first appeared on CapeTalk : Standard Bank extends payment break to personal accounts for low-income earners
Your financial future – even if you have to start over – could be brighter than it would’ve been without the pandemic.Read More
The Covid-19 pandemic's moving us towards a cashless society. Arabile Gumede interviews Ukheshe co-founder, Clayton Hayward.Read More
'Smaller businesses have largely been ignored'. Arabile Gumede interviews Retail Capital CEO Karl Westvig.Read More
Outa's Stefanie Fick urges the speedy investigation of allegations against the suspended COO of the National Lotteries Commission.Read More
There’ll be many opportunities for frontier investors in the coming years, says Absa's Somaya Joshua.Read More
The originator of the scheme is the man behind the 'Drive a new car for R699 a month' fiasco years back, warns Wendy Knowler.Read More
Level 1 rules helping but also hindering the wedding industry. Get cost-saving tips from Precious Thamaga (Precious the Planner).Read More
The sector is at a tipping point. Arabile Gumede interviews Philippa Rodseth from industry body, the Manufacturing Circle.Read More
Khabazela shares some of the videos that went viral on Twitter and Facebook.Read More
BMW releases an 'ode' to an iconic earlier model. The ad reflects local culture, says Sizakele Marutlulle (Marutlulle and Co).Read More