COVID-19 Bank Assistance
Specific COVID-19 concessions have been announced by the following banks. Check out the links for youw own bank and be sure to make contact
with them directly to find out what they can do for you. Remember, they will NOT provide assistance unless you reach out.
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COMMONWEALTH BANK
- Deferring repayments on a variety of business loan and overdraft products, for 6-months.
- Reducing commercial interest rates by 0.25
- Waiving merchant terminal fees for impacted customers with CBA payment terminals, for 90 days.
- Waiving early redraw fees on business term deposit accounts (including Farm Management Deposit accounts).
- Waiving establishment fees and excess interest on Temporary Excess products.
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Deferring repayments on vehicle and equipment finance loans, and providing tailored restructuring options that meet individual customer
needs.
MORE INFO: https://bit.ly/2QwCkV9
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ANZ
- Suspending interest repayments
- Deferral of business loan repayments for up to 6 months, assessed on a case-by-case basis
- Providing early access to term deposits without incurring break fees
- Providing access to additional credit subject to approval
MORE INFO: https://bit.ly/3bii2GI
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NAB
- Deferral of business loan repayments for up to 6 months, assessed on a case-by-case basis
- Extension of a business loan term by a period of up to three months, where individual circumstances warrant
- Support to restructure existing business loans, including equipment finance
- Business credit card deferred repayments.
MORE INFO: https://nab.co/33DkiFX
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WESTPAC
- Continuing its hardship assistance program
- Deferral of business loan repayments for up to 6 months, assessed on a case-by-case basis
READ MORE: https://bit.ly/2vJDmpC
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BENDIGO BANK
- Home Loan and Business Loan customers can apply for relief on loans for up to three months
- Waiver of fees for the restructuring or consolidation of loans
- Credit card customers can apply for an emergency credit card limit increase
- Discounted interest rates on new personal loans taken out by existing Bendigo Bank customers
- Waiver of interest rate reduction for early withdrawals on maturity
- Deferral of payments and extensions for Equipment Finance on a case by case basis
READ MORE: https://bit.ly/399pYbV
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