Bank Better, Live Better
we can help with debt relief
Struggling with debt repayments? If your income is affected by COVID-19, we have debt relief options available to help improve your cash flow and you could still qualify for our 100% interest refund.
We’re doing everything we can to help you during the COVID-19 crisis. If you're struggling or unable to meet your debt obligations, it’s important to take action immediately – before the situation gets worse. Speak to us first before considering further steps like debt review or debt consolidation. Together, we'll look at personalised options to improve your situation and get you back on track.
If you opt in for credit payment relief in the form of a payment break or variable rescheduling on your loan, you could benefit from a 100% interest refund on the interest charged during the first 3 months of your payment relief. The interest refund will be available to all qualifying clients who took a payment break or variable rescheduling relief plan between 26 March – 19 July 2020. To qualify for the interest refund, remember to make your credit repayments on time:
- Once you make 6 successful loan repayments, you will receive an interest refund equal to 50% of the interest charged during the first 3 months. This refund will be paid directly into your loan account as a capital reduction
- After a further 6 successful repayments, you will receive another 50% of the interest charged during the first 3 months
IMPORTANT: Beware of misleading debt relief advertising. The NCR recently warned consumers about debt counselling SMS and email adverts promising a payment holiday or a savings plan. According to the NCR, this type of advertisement is misleading and prohibited, debt counselling does not give clients a break from paying their debts – the client remains responsible to continue paying their debts. Read more about this on the NCR website:
NCR Debt counselling Press Release: August 2019
It’s important to look at your monthly expenses realistically and only take credit you can afford. Paying off your debt as quickly as possible reduces your total cost of credit and helps you maintain a good credit record. Read more about managing your credit and what to do if you're struggling with debt here.
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are you in need of credit relief or assistance?
We’re doing everything we can to help you during the COVID-19 crisis. If your income has been affected, speak to us about our credit payment relief and assistance options. Together, we can choose the best, personalised option that will give you time to improve your cash flow without increasing your total cost of credit.