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FNBB announces loan repayment holiday for customers

FNBB BOSS: Steven Bogacu

In response to damage caused by the Covid-19 virus, First National Bank Botswana (FNBB) has announced a cashflow relief for its eligible customers with a good track record of honouring heir repayments.

The relief, the bank said, is available to both retail and commercial customers for a period of three months, from April to June.

In retail, the relief applies to home loans, personal loans and WesBank loans while for the SME customers the relief applies to commercial property finance, vehicle and asset finance and term loans.

SME businesses with an annual turnover up to P10 million and an initial loan amount not exceeding P5 million will benefit from this relief program.

In addition to loan repayment holidays, the bank has in some instances introduced zero rate on some payments on digital banking channels and some of the payments that will be done for free until end of April are payments made on Mobile banking app; payments made on mobile banking; and cash withdrawal made through Cash@Till.

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For the months of may and June, the bank says FNBB App payments, mobile payments and cash@Till will be offered at a 25 percent discount on the current fee and the bank hopes these measures will help ease customers’ financial constraints until things stabilise.

2 Comments

2 Comments

  1. Matshoba Malepa

    April 11, 2020 at 11:04 am

    ALL WHAT IS SAID BY FNB CEO IS NOSENSE

  2. Tshupetso Chippa Molemi

    April 12, 2020 at 7:34 pm

    🤣 🤣 🤣.. This folks always play too smart with words so that tommoro they can ask you “where was it written”… Basically this is why some foreign nationals prefer to keep their money in houses and also revoke from this loan insurance etc…

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