FNB Eswatini Offers Three-Month Payment Breaks to New Customers

FNB Eswatini has introduced a new campaign, Switch to FNB, which offers qualifying customers a range of incentives, including three-month home loan and vehicle finance repayment holidays. The campaign aims to make switching financial institutions more attractive, particularly during a time when living costs are straining household budgets. According to Dr. Mncedzi Ngomane, Executive Head of Retail at FNB Eswatini, the bank is providing immediate financial incentives to customers who switch their home loans or vehicle finance to FNB.

The repayment holidays are available to customers who switch their home loans or vehicle finance to FNB during the campaign period. Qualifying customers can receive a three-month break from instalments, with the bank also covering qualifying bond costs for home loans. Additionally, customers who purchase vehicles or explore finance switching options through WesBank vehicle finance can enjoy a three-month repayment holiday. Ngomane emphasized that the incentives are intended to provide temporary financial relief to households managing major commitments.

The Switch to FNB campaign also targets salary earners, offering cash back on banking fees and funeral cover to customers who open an FNB account and transfer their salaries to the bank. Customers who qualify for the cash back offer can receive refunds on their first three months' monthly account fees, payable after the third month. Those who switch their salaries and take up qualifying FNB Personal Loans can also receive a one-month repayment holiday.

Furthermore, qualifying customers who transfer their salaries to FNB will receive E5 000 member-only funeral cover, with premiums waived for the first three months. Customers can subsequently explore additional cover for family members. Ngomane noted that the campaign reflects the bank's efforts to help customers retain more money in their pockets, following initiatives such as doubled Fuel Cash Back Rewards and pricing concessions introduced in July.

Despite the attractive incentives, customers are encouraged to compare interest rates, fees, repayment periods, and the total cost of borrowing before switching to FNB. They should also establish the eligibility requirements attached to each offer. The campaign's success will ultimately depend on whether customers continue benefiting beyond the promotional period.

FNB's 2025/26 integrated annual report disclosed that the bank invested more than E5.4 million in society through corporate social investment and sponsorship initiatives. The latest campaign highlights the growing competition for individual customers and salary accounts, potentially putting pressure on other financial institutions to improve their pricing, services, and customer acquisition offers.

The Switch to FNB campaign is set to run for a limited time, with customers urged to take advantage of the incentives before they expire. As the competition for customers intensifies, FNB Eswatini is positioning itself as a leader in the market, offering a range of benefits and rewards to new customers. With its focus on providing financial relief and incentives, FNB Eswatini aims to attract new customers and grow its market share.

Key points

• FNB Eswatini offers three-month repayment holidays to qualifying customers who switch their home loans or vehicle finance to the bank.
• The bank also offers cash back on banking fees and funeral cover to salary earners who open an FNB account and transfer their salaries to the bank.
• Customers are encouraged to compare interest rates, fees, and repayment periods before switching to FNB.