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Standard Bank takes steps to provide financial relief and encourages use of digital channels.
Community Coordinator

As South Africans continue to face challenges in dealing with the Coronavirus (COVID-19) pandemic, we are taking steps to provide some financial relief to some of our business and personal customers in the form of debt relief. We also encourage customers to consider digital banking as a preferred option to visiting a physical branch.

 

Debt relief for Small Enterprises and students

 

For our Small Enterprise customers (those with a turnover of less than R20 million) whose payments are up to date as at 31 March 2020, have been approved a 3 months payment holiday from 1 April to 30 June 2020 on their Business Loans. Repayment will be structured to capitalise on interest & fees. This is a an automatic adjustment later but there is an opt-out option. Click here for more information.

 

For our students we have also approved a payment holiday from 1 April to 30 June for our student loan customers who are studying full time. This will be at 0% interest and with zero fees. This is an automatic offer and no applications are required. Click here for more information.

 

Keeping everyone safe

 

The safety of our employees and customers is something that we care deeply about and we strongly encourage customers to use our suite of digital banking tools for their financial needs, whether this be from a personal or business perspective. Digital platforms provide an efficient, fast, safe and nearly instantaneous solution to many, if not all of your daily banking requirements, away from public spaces.

 

We encourage customers to manage account limits, make payments to local or international beneficiaries, settle traffic fines, download and send statements or apply for a personal loan from almost anywhere and at any time.

 

Some of the other digital features available to our clients include the options to:

 

  • Buy, send, store or spend foreign currency via the award-winning Shyft Forex App. The app’s features have been enhanced so that it is easier to track currency performance and movements.
  • Send money quickly and safely via Instant Money to 6 000 locations around the country and to anyone with a cellphone number.
  • Stay connected by accessing prepaid airtime, data and electricity via Standard Bank Internet Banking.
  • Increase contributions to an emergency fund, linked to an individual’s profile on the Standard Bank Mobile App

Our digital products offer ease and convenience, no matter where the person is located, and replace the need to visit a physical branch. During times like these, digital, contact free banking will help clients to carry on with their personal and business lives without disruption. Meanwhile, business owners do not have to leave their operations to tend to the financial aspect of their business such as purchasing electricity, paying staff, taking out a loan or managing limits on credit cards.

 

Some of the digital features available to our business clients allow for business owners to:

 

  • Keep their business moving by accessing liquidity or working capital solutions. Small and Medium Enterprise clients can apply for and receive a business overdraft of up to R6 million within three minutes by applying online here.
  • Ensure the lights stay on and the water keeps running at their operations by accessing prepaid services from municipalities such as electricity (of up to R3 000) online here.
  • Set up an online arm of their enterprise, where clients can purchase stock through our SimplyBlu e-commerce set-up solution. Access business-focused savings accounts that help to grow cash and work towards securing the future stability of the business.

Our representatives at the call centre will always be available to assist customers should they require advice or have specific questions related to their financial needs. This will likely see a higher volume of calls at call centres, and we are preparing internal systems for this eventuality. We continue toclosely monitor developments on Covid-19 both locally and abroad to ensure precautionary health measures are in place for our employees, clients and all our stakeholders while ensuring business continuity remains uninterrupted.

91 Comments
AlicetineG
Not applicable

What is being done for clients with other loan accounts such as homeloans, credit cards etc. ?

New Contributor

Really?!

 

First you hit me because my debit didn't go through while I am waiting for my invoices to be paid. Then you hit me wit fees for exceeding my limit. As if that is not enough, you also hit me on my sTandard bAnk credit card account.

No you present the front as if you're the Salvation Army!

Do you you want to score points? Tell the people how you hit customers at every possible corner, so they can know about the wolf in sheep's clothes.

M I rasool
Not applicable

Hi....just querying in regards to unemployed people who still are paying bond repayments and credit cards ACC's.....cos I think that most of their resources generated however may now be used for food and necessities....I would like to kno if  standard bank has considered people under those financial constraints .... It seems only the wealthy are being considered here

Hopeful customer
Not applicable

Please also give the revolving loan, and personal loans and credit card repayments an interest free holiday. We are also your customers.

Steven Johnson
Not applicable

Greetings. I have been a loyal Standard Bank client for the past 54 years! I received your SMS regarding a debt holiday for theee months with great joy. However when I read the message it is only for students and small businesses? Is my home loan and car loan not included? As a pensioner I am frantic to get some clarity as to the possibility of getting a repayment holiday for thee months- PLEASE?

Civilous Thichakwa Phophi
Not applicable

Why not give debt relief to all you clients/customers cause we are all affected. 

Wendy Pillay
Not applicable

I think Standard Bank should assist all their clients, not only businesses and students.  Some of us have personal loans and also require a payment holiday to assist us during this difficult time.

WillyG
Not applicable

Standard Bank has ditched us the loyal clients once again. We, who have home loans, credit cards, RCL , vehicle finance and other loans with Standard Bank form the majority of your clients yet you ignored us and pulled a cheap publicity stunt with the businesses and student loans. If Standard Bank cares about its clients you should be offering automatic loans of R 5000 to all your clients at the current interest rate with a payment holiday of 6 months. THIS WILL BE PUTTING YOUR CLIENTS FIRST as you claim.

Gerhard Leimecke
Not applicable

I have a homeloan with you , is there a payment holiday for me?

Rg786
Not applicable

So if you can offer small business and students a holiday period what happens to the rest of your clients who still pay their monthly fees who have personal loans business loans over draft facilities credit cards. How can you help a selected few when and entire country world is going thru crisis. Really unfair. 

Natalie Turck
Not applicable

Morning

 

Is there any relief for bond repayments? We have a residential bond in our trust name VAN ZYL FERGUSON FAMILY TRUST but income to make the payments comes accommodation rentals which has dried up.

 

Please advise what relief is avaialable?

 

Regards

 

natalie Turck

For Van Zyl Ferguson Family Trust.

Rasool mi
Not applicable

Hi ...not everyone has the ability of getting in touch with their relative banks in regards to making arrangements either electronically or physically ....now that banks are closed .....my opinion is that all banks should just give all their customers complete relief until things stabilizes....reason being that most people are afraid to leave their homes due to the ever increasing number of infections ...we are really at a disadvantage here .... Kindly take note

Malenyora
Not applicable

Standard bank what about individual customers.

Lionel Maharajah
Not applicable

My father is uncertian if his small business falls under those being relieved for the next few months.

How can he find out?

NAME: New Orleans Construction

Loyal customer
Not applicable

Hi , does this relief apply to personal loans as well?

Tawanda Nyamutumbu
Not applicable

Good day,

Thank you for alerting us on the COVID 19 pandemic however I am one of your customers who bank with the non residence centra and it has taken a week now to process my payment. Confirmations were done and no funds have reflected yet into the beneficiary acount.

Please help since one of my family member requires the same for medical support.

 

Regards,

Tawanda Nyamutumbu

Pieter Enslin
Not applicable

Any assistance with Self-employed poeple that supplies Recruitment Services? If companies dont recruit, we dont make money? How can we stay on top of everything? Cant you assist them with a Repayment holiday for 3 months for there Home Loan, vehicle and loans? 

 

Melsetters
Not applicable

Thank you for the good news about student loans and business accouns.

I run a B&B business. 99% of bookings have been cancelled and guests require their deposits back.  No income until things have normalised.

PLEASE HELP.  I have a current account, personal loan and home loan.  PLEASE HELP with 3 months' payment holiday.

Thulo
Not applicable

Hi stand bank I am in the hospitality industry. We currently on forced leave no work no pay. I have a homeloan, credit card just to name a few. What are you doing to help us in these trying times, please get back to me. 

Gareth15
Not applicable

Will Standard bank help the employees as a loss of income will result in bonds not being paid. It's great helping the employers with a grace period on loans but there are many who are not going to earn much during this period. 

Mkhosiwakuhle
Not applicable

How about homeloan and vehicle

Maxime Ellard
Not applicable

This is great news, however, not great news for people with credit cards. How are you going to help the average joe who has a standard bank credit card during this pandemic with credit card repayments??? That is where you can actually assist, but selectively only students and small business owners get a payment holiday. It should be universal.

albert Edward holt
Not applicable

so the individual person bank account 

overdrafts 

credit card how you going to help us please advise 

Traceyg
Not applicable

I would suggest that you would consider extending the payment holiday for home loan accounts aswell this will assist most South Africans as this is one of the biggest expenses most people have.

Luthando Mdlalo
Not applicable

How about offering a payment holiday on home loans and vehicle finance? My mother is under 60 and over 56 so unemployed, brother who is at tertiary is my responsibility, my partner who was assisting me works on commission and uncle is a construction worker and I am the only person with permanent employment right now. What is the bank going to do to aleviate the burden for loyal customers? Releif is needed pretty much everywhere. 

Tebogo Mabuza
Not applicable

I also agree that more should be done to assist home owners who are still paying off their houses with a payment holiday. I'm an hourly paid worker, so this 21 days lock down will affect me very hard. So, please Standard Bank assist us.

nic theunissen
Not applicable

Please come take my house. I won't be able to pay my bond under lockdown. I WILL NEVER HAVE A  BOND AGAIN AFTER 30 YEARS. I WILL RENT FROM NOW ON. 

STANDARD BANK YOU ARE THIEVES AND THE BIGGEST RIPP OFF AFTER THE GOVERNMENT OF SOUTH AFRICA .

 

Vishen Naidoo
Not applicable

What is the situation regarding homeloan, credit card and other payments? ? All banks have to institute a payment holiday. If not..I will draw all my money available to me out of my accounts..and the banking system will collapse..I don't even care if my debits bounce..take me to court..and the country will institute a nation wide civil suit against the govt for the lockdown..so plead use some for **bleep** sense and help the people of this country properly

Nicole Daniels
Not applicable

What about those with personal loans who will no longer be earning an income during the lockdown? This offer is very misleading and not very inclusive 

pasapasa
Not applicable

how are you helping bond paying customers,because this corona has too much impact on us 

Filo
Not applicable

I am a sales rep and haven't earned since beginning of month I work on com basis I don't have the luxury of a fixed salary what about ppl like us can we not get a personal loan


@ilanampiti wrote:

As South Africans continue to face challenges in dealing with the Coronavirus (COVID-19) pandemic, we are taking steps to provide some financial relief to some of our business and personal customers in the form of debt relief. We also encourage customers to consider digital banking as a preferred option to visiting a physical branch.

 

Debt relief for Small Enterprises and students

 

For our Small Enterprise customers (those with a turnover of less than R20 million) whose payments are up to date as at 31 March 2020, have been approved a 3 months payment holiday from 1 April to 30 June 2020 on their Business Loans. Repayment will be structured to capitalise on interest & fees. This is a an automatic adjustment later but there is an opt-out option. Click here for more information.

 

For our students we have also approved a payment holiday from 1 April to 30 June for our student loan customers who are studying full time. This will be at 0% interest and with zero fees. This is an automatic offer and no applications are required. Click here for more information.

 

Keeping everyone safe

 

The safety of our employees and customers is something that we care deeply about and we strongly encourage customers to use our suite of digital banking tools for their financial needs, whether this be from a personal or business perspective. Digital platforms provide an efficient, fast, safe and nearly instantaneous solution to many, if not all of your daily banking requirements, away from public spaces.

 

We encourage customers to manage account limits, make payments to local or international beneficiaries, settle traffic fines, download and send statements or apply for a personal loan from almost anywhere and at any time.

 

Some of the other digital features available to our clients include the options to:

 

  • Buy, send, store or spend foreign currency via the award-winning Shyft Forex App. The app’s features have been enhanced so that it is easier to track currency performance and movements.
  • Send money quickly and safely via Instant Money to 6 000 locations around the country and to anyone with a cellphone number.
  • Stay connected by accessing prepaid airtime, data and electricity via Standard Bank Internet Banking.
  • Increase contributions to an emergency fund, linked to an individual’s profile on the Standard Bank Mobile App

Our digital products offer ease and convenience, no matter where the person is located, and replace the need to visit a physical branch. During times like these, digital, contact free banking will help clients to carry on with their personal and business lives without disruption. Meanwhile, business owners do not have to leave their operations to tend to the financial aspect of their business such as purchasing electricity, paying staff, taking out a loan or managing limits on credit cards.

 

Some of the digital features available to our business clients allow for business owners to:

 

  • Keep their business moving by accessing liquidity or working capital solutions. Small and Medium Enterprise clients can apply for and receive a business overdraft of up to R6 million within three minutes by applying online here.
  • Ensure the lights stay on and the water keeps running at their operations by accessing prepaid services from municipalities such as electricity (of up to R3 000) online here.
  • Set up an online arm of their enterprise, where clients can purchase stock through our SimplyBlu e-commerce set-up solution. Access business-focused savings accounts that help to grow cash and work towards securing the future stability of the business.

Our representatives at the call centre will always be available to assist customers should they require advice or have specific questions related to their financial needs. This will likely see a higher volume of calls at call centres, and we are preparing internal systems for this eventuality. We continue toclosely monitor developments on Covid-19 both locally and abroad to ensure precautionary health measures are in place for our employees, clients and all our stakeholders while ensuring business continuity remains uninterrupted.


 

 

 

 

DivanJv
Not applicable

So last night the President stated that there would be assistace from the banks during this time. I have been trying to contact my bank on 0860111400 to find out if I can get a payment break for the next 2 months but no luck. 

Loyal Standard Bank client
Not applicable

I implore Standard Bank to be bold and be the first to institute a four month payment holiday on bond, car and loan repayments as per the plea by two prominent political parties and the growing calls among all banking clients, it is essential to ensure that households have some form of relief as we are required to support our families during this extraordinary measure implemented by our President to ensure that we flatten the curve of this tragic virus.

 

Come on Standard Bank what's your Next?

Community Coordinator

Hello there, 

 

Please note the attached communication regarding the payment holiday on Bond/Home Loans and Vehicle Finance.

 

Link: https://twitter.com/StandardBankZA/status/1241767788433326080

 

Let us know should you have further questions on this.

 

Regards, 

Boitumelo

elgin mathebbula
Not applicable

can i request payment holiday for my vehicle please? what are the requirements?

HelenaWC
Not applicable

I agree, give us - who is NOT small business owners OR students, also a 2month payment holiday.  We are also loyal clients of Standard Bank, so why are we being ignored????

Marius77
Not applicable

I have been overseas for 3years but still repaying my rcp. Our hours have been cut and I can no longer afford to make regular payments. Banks here have suspended all debt repayments and mortgages for 3 months. Is Standard Bank doing the same? How do I make arrangements? Lenders overseas have also been prohibited from listing people in financial crisis due to the pandemic. Is the situation the same in RSA? 

Rose262427
Not applicable

I have tried calling, no answer

Emailed 3 times, no reply

How do I get in contact with Standard Bank?

NicoleS
Not applicable

Hi, any payment relief for home loans?  I already have issues as our tenant seems to be of the opinion they do not have to pay rent during this crisis, half of the our bond is derived from the re tal. Any suggestions, or payment plans to help at this time? 

Confused-1
Not applicable

Good day

 

 

How is Standard Bank assisting individuals with a payment Holiday plan for Home Loans?

Community Coordinator

Hello There,

 

Please be advised that we will be reaching out to our Home Loans & VAF customers who may have challenges meeting their repayments, to provide them with options to contact either the Debt Care Centre or their Relationship Manager for a solution that is suitable to their circumstances. This applies to customers who were not in arrears as at 1 February 2020.

 

Kind Regards,

Mandy