SA Bank Payment Holidays and Debt Relief For Home Owners

Customers who are or will be struggling to repay their home loan repayments or any other related debt relief, can contact their banks on the following email addresses:We are happy to inform you that according to Mary Lindeman of Betterbond / MortgageMax (the biggest bond broking firm in South Africa) a much needed payment holiday and debt relief for customers will be announced during the coming days by all of South Africa's big banks. Some banks will be doing formal press releases in the coming days, but they have given Betterbond the go-ahead to share the information in the meantime.

Each of the following banks have set up dedicated contact centres to manage queries and applications for debt relief and payment holidays, however call volumes are high and it is putting a lot of strain on their service levels and turnaround times. They ask that customers please be patient - they know these are stressful times - they are trying their utmost to get to every customer as soon as they can.

Absa

• Absa will pre-screen customers and send an SMS offering this capability to their customers who will opt in or out.
• Customers can make contact with Absa using the following e-mail address: Bondrs@absa.co.za.
• This is effective 1 April 2020.
• The programme incorporates a three-month payment relief and applies to our credit products, including home loans, vehicle finance, personal loans and credit cards.
• Customers with up-to-date accounts can apply for the payment relief aimed at assisting with cash flow needs during this time. Credit agreements will be adjusted by revising the loan period and capitalising interest during the relief period.

Standard Bank

• All Standard Bank customers can send an e-mail to debtcarecentre@standardbank.co.za.
• Customers can expect a delayed response.

Nedbank

• Nedbank Home Loans clients can make contact via 0860 553 573, however call volumes are high, so if they struggle to get through they can e-mail HLCollections@Nedbank.co.za for assistance.
• Should clients want to enquire about a Moratorium/Payment Holiday they can e-mail Nedbank at MoratoriumRequest@Nedbank.co.za for assistance.

FNB

• FNB has just released the following relief measures to the public, effective from 1 April to 30 June 2020, for those customers who's financial stability has been impacted by the Covid-19 Lockdown:
• https://www.google.co.za/amp/s/businesstech.co.za/news/banking/385901/fnb-announces-coronavirus-relief-measures-for-customers/amp/
• Individuals and business customers can contact FNB via their usual digital and assisted banking channels to enquire about these services. During this week, customers will also be able to get more information on their current Covid-19 relief measures through a dedicated icon on the landing page of the FNB banking app.

We hope that this will assist some customers with their cash flow in the coming months to support their families, and will give them some piece of mind.