Name of the fund
Nedbank - COVID-19 Debt Assistance
Fund administered by
Type of relief/support
Total size of the fund
Who does the fund target?
Minimum amount you can apply for
Maximum amount you can apply for
FUNDING CRITERIA FOR THE NEDBANK COVID-19 DEBT ASSISTANCE:
Each case will be reviewed individually, and the most appropriate solution recommended. It is important to note that there remains an obligation on you to pay your loan agreements. The above solutions do not result in a reduction in your overall obligation to service your debt.
These could include entering payment arrangement options that are tailored to suit you based on your household’s cashflow being impacted negatively at this time.
- Payment arrangements – temporary arrangement allowing you to repay a reduced amount over a limited timeframe.
- Payment holidays – a temporary suspension of your monthly repayment based on your household’s cashflow being impacted negatively in that you cannot make payment to service any of your debts at this time.
- Restructures – rearrangement of the current monthly repayment schedule, which may result in an increase of the original loan term.
ADDITIONAL INFORMATION FOR THE NEDBANK COVID-19 DEBT ASSISTANCE:
For Professional, Small Business Services and Business Banking clients, please contact your relationship banker or business manager to discuss the options available. Professional and Small Business Services clients can also contact the RRB helpdesk.
Small Business Services: For businesses with an annual turnover less than R10 million:+27 860 116 400 or SmallBusinessServices@Nedbank.co.za
Business Banking: For businesses with an annual turnover between R10 million to R750 million:+27 860 555 333 or email@example.com