Shocking treatment by Standard Bank Sandton.

Disgusting offer by Standard Bank over the covid 19 loss of income offer.

I have been banking with Standard Bank Sandton for at least 18 years, all my accounts, home loan, cheque account, credit cards etc are with Standard Bank. In 2015 I app**** for a home loan and was granted the facility. I purchased a small piece of land firstly then 2 years later app**** for a building loan which was also granted. I commenced with the building and when payment was due I app**** for my first draw/payment from Standard bank, however due to the just about impossible payment procedure/complications offered by Standard bank, I had no choice but to invest all my savings into the the building to allow the project to continue to avoid the building contractor walking off the site. Due to my own savings being invested into my home loan I was granted a access bond reducing my total exposure to the bank by R750 000-00 and reducing the monthly bond payment considerably. I would also like to remind Standard bank that due to my personal investment the bank have now more equity and less risk should I default on my monthly payment.

Due to the covid 19 epidemic and lost of income I contacted standard bank on the 8th May 2020 to ascertain if any holiday/relief period was on offer to me. The Bank mentioned yes as they were offering clients relief so please email us with your current financial situation and that they would facilitate some relief, the bank also mentioned it would take plus/minus I week for a respond. On the 1st June 2020, 3 and half weeks later I received a phone call (No email or official letter) with the following offers.

1. Yes we will offer you a 3 month holiday period relief on your bond/home loan, to the Value of Plus/minus R75000-00. 2. The offer is subject to relinquishing you access bond of R750 000-00. 3 This is Standard Banks offer and please answer your response with a Yes or No over the phone. In other words Standard Bank wants to access my personal savings which is in the form of my Access account to give me a 3 month holiday relief.... I do admit I am probably one of the few South Africans to be in this fortunate financial position, however this is how standard bank are prepared to assist a 18 year supposing loyal client. I find this treatment absolutely shocking during these difficult times, especially as Standard Bank are advertising that they are here to assist their clients.

And just to add insult to injury my neighbour was the person who mentioned to me that he received a 6 month holiday relief without any conditions from Standard Bank.