Nedbank has put a number of relief measures in place to offer their clients much needed cashflow relief during the COVID-19 pandemic

APPLICABILITY PERIOD

 24 March 2020 to 30 June 2020

RELIEF MEASURES OFFERED

  • Payment holidays – you can delay your loan repayments through a three month payment holiday. Note, interest will however continue to accrue over this period
  • Payment arrangements – temporary arrangement allowing you to repay a reduced amount over a limited timeframe
  • Restructures – rearrangement of your current monthly repayment schedule, which may result in an increase of the original loan term
  • Monthly credit card repayments – your monthly minimum repayment has been reduced from 5% to 2.5% of your outstanding balance
  • Saswitch fees – from 28 March you can withdraw cash from any banks ATM without being charged the additional Saswitch fee. Normal withdrawal fees do however still apply
  • Penalty fees on early investment withdrawals – for clients wishing to access fixed-term or notice investments, the early release penalty fee will be waived up to the value of R200 000
  • Beyond banking support through SimplyBiz – join a community of business owners, professionals and sole proprietors for business guidance and support

TERMS AND CONDITIONS

  •  Each case will be reviewed individually, and the most appropriate solution recommended
  • There remains an obligation on clients to pay their loan agreements
  • The above solutions do not result in a reduction in the clients overall obligation to service their debt
  • For early release on investments funds, the client will need to confirm, in writing, that the early release request is due to income shortfall

HOW DO I REGISTER / APPLY?

Click below to apply online

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