Your cashflow is gone – FNB customers can apply for relief
FNB Namibia announced tangible measures on Friday to bring relief to customers whose cashflows have imploded as a result of the Covid-19 lockdown.
The bank’s Chief Executive, Erwin Tjipuka said that they have worked non-stop to devise solutions for customers who have been financially impacted by the virus. He encouraged all qualifying customers to apply via the FNB App or to check via their cellphone banking whether they qualify.
Tjipuka said each application will be evaluated on an individual basis. “In essence, customers who are in good standing, and who experience challenges with income directly related to COVID-19 are the most likely to qualify.”
The financing products eligible for cashflow relief are home loans, vehicle and asset finance, and personal loans.
“During the three-month payment holiday, a customer will not be expected to make any installments (capital or interest) and interest will be calculated as normal during the Cashflow Relief period. The existing loan term will then be extended accordingly when payments commence, to ensure the value of the installment does not increase.”
FNB advised that customers must download the FNB Banking App to apply for cashflow relief. They must then log in and press the COVID 19 button to reach the application form.
Customers will also be required to provide evidence on how their income has been impacted, and supporting documentation should be emailed to [email protected].
“We are also there for those who might not qualify. These customers are requested to contact the FNB Collection teams in order to make payment arrangements on their loans,” said Tjipuka.