FNB has launched its cashflow relief measures to assist individual personal banking customer who are negatively impacted by Covid-19.
The Bank’s solution covers customer’s repayments across all products they hold with FNB including credit, insurance and FNB Connect products.
APPLICABILITY PERIOD
For a period of 3 months
QUALIFICATION CRITERIA
- FNB customer
- In good standing with the Bank before negatively impacted by Covid-19
How does the Cashflow Relief Plan Work?
Instead of extending the customer’s term, FNB will allow the customer to repay the cashflow relief amount separately post the payment break, with the following benefits applicable:
- Zero fees
- Flexible repayment period
- Ability to settle this amount earlier with no penalties
- The interest rate payable is prime, which could be a lower interest rate than what the customer is currently paying on their unsecured credit products such as a personal loan, credit cards or overdraft or other unsecured credit facilities
- Repayment will only start once the 3-month relief period is over.
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