No interest on loans, cards and £500 free overdraft for anyone hit by coronavirus

mirror.co.uk:

There will be no interest charged on credit cards or loans if you are hit with coronavirus and banks will have to give you at least a £500 interest-free buffer on your overdraft under new measures proposed by the Financial Conduct Authority.

Banks have also been told that they are not allowed to increase anyone's overdraft costs during the pandemic. The measures are designed to provide a short-term stop-gap, for a period of up to three months, to give people who until now have been financially stable some much-needed financial support.

Banks have until 9am on Monday, April 6, to respond to the city regulator before it makes them official. The new rules are set to come into force on April 9th, a week from today.