EFF calls on banks and service providers to be lenient during Covid-19 crisis

timeslive.co.za

- timeslive.co.za | 5 days ago

The EFF has proposed economic measures to combat the impact of Covid-19, calling on banks to suspend customers' loan repayments and service providers to suspend debit orders and service fees for four months.

In a statement, the red berets said South African banks should initiate a “payment holiday” for clients on home and car loans, credit cards and other debt, such as personal and student loans. The party said banks should not be allowed to retrench workers during this time, adding that those who earned less than R15,000 a month should receive a grant of R3,500 for essentials.

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