MBABANE – FNB Eswatini has introduced a campaign offering qualifying customers repayment holidays, cash-back incentives and additional family protection benefits.
This comes as the bank seeks to attract more emaSwati to switch their banking and salary accounts to the bank.
The new Switch to FNB campaign brings together several financial incentives targeting customers with different financial commitments, including home loans, vehicle finance, personal loans and monthly banking fees.
The initiative comes at a time when households continue to navigate rising living costs and mounting financial obligations, with the bank positioning the campaign as an opportunity for customers to obtain immediate financial relief while strengthening their longer-term financial plans.
According to FNB Eswatini, customers who transfer their banking relationships and salaries to the institution may qualify for benefits that include a three-month home loan repayment holiday, a three-month vehicle finance instalment break, cash back on monthly account fees and additional funeral cover.
FNB Executive Head of Retail Dr Mncedzi Ngomane said the campaign was informed by the need to develop banking solutions that respond to the financial pressures experienced by customers.
“For us, help has to respond to what customers are actually experiencing. We know that the cost of living is placing increasing pressure on household budgets, which is why we have continued to look for ways to help customers keep more money in their pockets,” he said.
Ngomane said the bank had previously introduced measures such as doubling its Fuel Cash Back Rewards and implementing pricing concessions in July, adding that the latest campaign extended this approach to customers’ broader financial commitments.
He said the campaign sought to challenge conventional expectations around changing banks by bringing together benefits that customers could experience in their everyday financial lives.
“We believe this first-of-its-kind campaign challenges what customers should expect when switching banks by bringing practical, immediately felt benefits together in one proposition. Whether it is a break from a repayment, cash back on banking fees or additional protection for their families, we want the benefit of changing to FNB to be something customers can genuinely feel,” he said.
Relief on major financial commitments
MBABANE – One of the campaign’s key offerings targets homeowners, with qualifying customers who switch their home loans to FNB during the campaign period eligible for a three-month repayment holiday.
The bank will also cover qualifying bond costs associated with the transfer, potentially reducing some of the upfront expenses involved in moving a home loan from one financial institution to another.
The offer is particularly targeted at households managing mortgage repayments, which often represent one of their largest monthly financial commitments.
Customers looking to purchase vehicles or explore vehicle finance switching options can also access a three-month instalment holiday through WesBank, FNB’s vehicle finance division.
The bank has further introduced joint spousal vehicle finance, allowing qualifying married couples to apply together when financing a vehicle.
For customers who open an FNB account and transfer their salaries to the bank, the campaign provides cash back on the first three months’ monthly account fees. The cash back will be paid after the third month.
Another incentive targets customers taking up qualifying FNB Personal Loans. Those who switch their salaries to the bank and obtain the qualifying loans will receive a one-month repayment holiday.
The bank said this benefit was intended to provide customers with additional flexibility when managing existing financial responsibilities or pursuing personal projects such as home improvements and education.
Beyond lending and banking fee incentives, the campaign also incorporates a funeral cover benefit aimed at strengthening financial protection for customers and their families.
Customers who switch their salaries to FNB qualify for E5 000 member-only funeral cover, with premiums waived for the first three months.
They will also have the option of taking up additional funeral cover, including arrangements that extend protection to family members once the initial free-premium period has ended.
Ngomane said the different incentives were structured around the understanding that customers had varying financial circumstances and did not necessarily require the same banking products or solutions.
“We understand that emaSwati have different needs. Some may be ready to switch immediately, while others may still be comparing options and considering which products are relevant to them. Our goal is to meet emaSwati at the point of their need and offer relatable and long-lasting solutions,” he said.
The bank said the campaign was designed to allow prospective customers to make the switch when they were ready, while providing access to information, guidance and financial solutions to help them assess the benefits of changing their banking relationship.
