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| [Date] | ||||
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[Title, Name/s & Surname] [Postal Address Line 1] [Postal Address Line 2] [Postal Address Line 3] [Postal Code] [Email address] |
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| Dear [Title Surname] | ||||
| Re: Notice in terms of the National Credit Act 34 of 2005 (NCA) | ||||
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| In terms of Section 118(3) of the NCA, we notify you that your credit facility limit will be reduced on delivery of this notice. The reduction to your credit limit will have the following effect on your credit agreement: | ||||
| Existing credit limit | R[insert amount] | |
| New credit limit | R[insert amount] | |
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Please take note that your credit facility limit under the aforementioned credit agreement will be re-instated to the new credit limit stated above. This means that your revolving loan has been re-instated but to a lower amount. Your revised monthly repayment amount will be communicated to you shortly. Kindly call 087 577 4000 on weekdays between 8:00 and 16:00 to provide us with a debit order mandate within 3 calendar days from receiving this notification. A hold will be placed on the credit facility until you provide us with a debit order mandate. Should you fail to provide the debit order mandate, the credit agreement will be cancelled within 10 (ten) business days' notice. All other terms and conditions of your existing credit agreement with us will remain unchanged. |
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Yours faithfully FNB |
| Terms, conditions and product rules apply. |
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First National Bank A division of FirstRand Bank Limited. An Authorised Financial Services and Credit Provider (NCRCP20).
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