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FNBB announces cash-flow relief package for SMEs

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FNBB has announced a three months cash-flow relief intervention for both retail and commercial customers impacted by COVID-19. The bank’s Chief Executive Officer, Steven Bogatsu said customers with a good track record will be eligible for the relief intervention.

“SME businesses with an annual turnover up to P10 million and an initial loan amount not exceeding P5 million will benefit from our installment relief programme,” said Bogatsu. Bogatsu said installment relief for retail customers have been put in place for those on home loan, personal loan and WesBank loans products while SME customers’ relief will be on commercial property finance, vehicle and asset finance and term loans.

In addition, FNBB has highlighted that between the months of May and June, FNB App payments, mobile payments and Cash@Till fees will be offered at a 25 percent discount on the current fee.  “The bank hopes that these measures will help ease customers’ financial constraints until things stabilise,” said Bogatsu. The bank has also removed rate payments on some of its digital banking channels.

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