20°C / 22°C
  • Sat
  • 29°C
  • 12°C
  • Sun
  • 29°C
  • 14°C
  • Mon
  • 27°C
  • 12°C
  • Tue
  • 25°C
  • 9°C
  • Wed
  • 22°C
  • 8°C
  • Thu
  • 24°C
  • 3°C
  • Sat
  • 18°C
  • 12°C
  • Sun
  • 17°C
  • 12°C
  • Mon
  • 19°C
  • 12°C
  • Tue
  • 22°C
  • 12°C
  • Wed
  • 26°C
  • 13°C
  • Thu
  • 32°C
  • 17°C
  • Sat
  • 31°C
  • 14°C
  • Sun
  • 31°C
  • 15°C
  • Mon
  • 28°C
  • 13°C
  • Tue
  • 27°C
  • 11°C
  • Wed
  • 25°C
  • 10°C
  • Thu
  • 26°C
  • 7°C
  • Sat
  • 31°C
  • 14°C
  • Sun
  • 31°C
  • 15°C
  • Mon
  • 30°C
  • 14°C
  • Tue
  • 29°C
  • 12°C
  • Wed
  • 22°C
  • 9°C
  • Thu
  • 24°C
  • 4°C
  • Sat
  • 24°C
  • 18°C
  • Sun
  • 22°C
  • 16°C
  • Mon
  • 20°C
  • 15°C
  • Tue
  • 19°C
  • 14°C
  • Wed
  • 20°C
  • 12°C
  • Thu
  • 21°C
  • 12°C
  • Sat
  • 19°C
  • 13°C
  • Sun
  • 15°C
  • 12°C
  • Mon
  • 17°C
  • 10°C
  • Tue
  • 18°C
  • 10°C
  • Wed
  • 19°C
  • 12°C
  • Thu
  • 25°C
  • 12°C
  • Sat
  • 15°C
  • 9°C
  • Sun
  • 16°C
  • 7°C
  • Mon
  • 23°C
  • 7°C
  • Tue
  • 24°C
  • 9°C
  • Wed
  • 30°C
  • 10°C
  • Thu
  • 35°C
  • 16°C
  • Sat
  • 15°C
  • 12°C
  • Sun
  • 15°C
  • 10°C
  • Mon
  • 20°C
  • 10°C
  • Tue
  • 21°C
  • 12°C
  • Wed
  • 26°C
  • 13°C
  • Thu
  • 29°C
  • 20°C
  • Sat
  • 32°C
  • 16°C
  • Sun
  • 32°C
  • 15°C
  • Mon
  • 31°C
  • 16°C
  • Tue
  • 28°C
  • 13°C
  • Wed
  • 25°C
  • 13°C
  • Thu
  • 25°C
  • 9°C
  • Sat
  • 30°C
  • 16°C
  • Sun
  • 27°C
  • 11°C
  • Mon
  • 28°C
  • 8°C
  • Tue
  • 28°C
  • 12°C
  • Wed
  • 25°C
  • 8°C
  • Thu
  • 25°C
  • 8°C
  • Sat
  • 33°C
  • 12°C
  • Sun
  • 33°C
  • 13°C
  • Mon
  • 19°C
  • 13°C
  • Tue
  • 21°C
  • 12°C
  • Wed
  • 21°C
  • 7°C
  • Thu
  • 22°C
  • 4°C
  • Sat
  • 19°C
  • 12°C
  • Sun
  • 13°C
  • 8°C
  • Mon
  • 17°C
  • 8°C
  • Tue
  • 18°C
  • 9°C
  • Wed
  • 21°C
  • 9°C
  • Thu
  • 30°C
  • 14°C

Sarb confirms Treasury guarantee of up to R100k for VBS retail depositors

The SA Reserve Banks says it will announce the details on the repayment of retail deposits on Monday. In March, the central bank announced it would guarantee R50,000 per depositor.

Picture: VBS Mutual Bank Facebook page

JOHANNESBURG - The South African Reserve Bank (Sarb) has confirmed it has secured a guarantee from National Treasury for retail deposits of up to R100,000 per depositor, for VBS Mutual Bank retail depositors.

The Sarb says it will announce the details on the repayment of retail deposits on Monday.

Retail depositors refer to individuals, funeral schemes, burial societies, savings clubs and stokvels. In March, the central bank announced it would guarantee R50,000 per depositor.

Now in a statement, it has doubled that amount with the concurrence of the finance minister.

“The curator will continue to collect on loans due to VBS Mutual Bank. Individuals and entities with loans at VBS Mutual Bank are expected to continue to make payments on these loans. We ask retail depositors to remain patient and know that the SARB continues to prioritise their best interests.”

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus