
1.64m South Africans have taken payment holidays
According to a recent article by MyBroadband, a large number of South Africans have asked their banks for payment holidays and cash flow relief during the Covid-19 pandemic.
- Absa has seen almost 570 000 account holders benefit from relief
- This amounts to R7.8-billion cash flow relief
- Nedbank has assisted more than 225 000 clients, out of a total credit active client base of approximately 2.5-million
- Standard Bank granted instalment relief to nearly 150 000 clients in the wake of the national lockdown
- This amounts to over R1-billion in instalment relief per month
- FNB said it has offered almost R6 billion in relief to customers since 1 April 2020
- Nearly 700 000 account holders benefited from relief
- A total of 1.64-million South Africans have received payment holidays
Tags: Absa, banks, FNB, Nedbank, payment holidays, payments, Standard Bank