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Standard Bank Offer Payment Holiday To More Clients

Standard Bank has been leading the way with regard to Covid-19 measures for clients. They recently announced a 3 month payment holiday reprieve for small businesses who bank with them (See That Here) and are now extending relief to even more clients.

If you are a Standard Bank client and have accounts in good standing and earn less than R7500 a month then you will now qualify for Standard Bank’s latest offering of a 3 month payment holiday.

‘The 3 month payment relief will start from 1st April 2020 until the end of June 2020’

The payment holiday will apply to home loans, vehicle finance as well as personal loans, credit cards and any other credit facility you have with the bank. The 3 month payment relief will start from 1st April 2020 until the end of June 2020. Consumers are reminded that they should not take advantage of the offer if they do not need it this month and should only skip payments if their accounts are in good standing (you have made all your debt repayments recently and the account is in good standing).

It is important to note that interest and bank fees will still be running in the background and that you will eventually end up paying for these over time. Standard Bank has said you do not need to contact them to tell them you will be making use of the payment holiday they will automatically pick it up on their system.