FUND DETAILS
Name of the fund
Standard Bank - Personal Loan Relief for SME Owners
Fund administered by
Standard Bank
Type of relief/support
The instalment relief will defer payments on credit cards, home loans, personal loans and vehicle loan payments from 1 April 2020 to 30 June 2020 for qualifying customers; interest and fees will accrue over this time; these funds can be used to pay salaries
Total size of the fund
Not stipulated
Who does the fund target?
Owners of SMEs
Sector target
All sectors
Minimum amount you can apply for
Not stipulated
Maximum amount you can apply for
Not stipulated
NB. THIS INSTALMENT RELIEF WAS OFFERED FROM 1 APRIL 2020 TO 30 JUNE 2020, REPAYMENTS WILL RECOMMENCE FROM JULY. PLEASE SPEAK TO YOUR BUSINESS BANKER FOR FURTHER INFORMATION.
FUNDING CRITERIA FOR STANDARD BANK - PERSONAL LOAN RELIEF FOR SME OWNERS:
- You have a Standard Bank Business Current account.
- You are the owner of a small business with a turnover under R20 million a year.
- You have a Standard Bank credit card, home loan, personal loan and/or vehicle loan.
- Your accounts are not in arrears as at 31 March 2020.
Exclusions:
- Customers whose payments are in arrears as at 31 March 2020 are not eligible for this offer
- This offer excludes home loans held in a trust
- This offer excludes overdrafts
The Standard Bank Instalment Relief will be automatically applied, however should you wish to opt-out of the instalment relief pay your loan instalment or email businessassist@standardbank.co.za.
ADDITIONAL INFORMATION FOR STANDARD BANK - PERSONAL LOAN RELIEF FOR SME OWNERS:
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