COVID-19: Deferring Loan Repayments

We appreciate that this is a challenging time for all of our customers, and would like to assist you wherever possible. Please find below a list of lender contacts, for assistance with arranging loan repayment deferrals if your income or business cashflow has been affected by COVID-19. Many of these lenders are allowing repayment breaks for a period of up to 6 months.

Loan repayment deferrals will not require any repayments for the period agreed with your lender. During this time your loan will continue to accrue interest, which will be added to the loan balance. At the end of the repayment break period your loan balance will be re-calculated (to include the interest incurred during the break period) and your loan term will be either be extended by 6+ months so that your repayments stay the same as they were prior to the repayment break period, or increased slightly to account for the additional interest within the remaining loan term. More details about how your lender will calculate this can be obtained from them directly.

An alternative to a complete repayment deferral for home loans is to convert your loan to an interest only loan, where youll only be paying the interest component of your repayment each month.

We will be updating this list daily, as more lenders inform us of their policy, and launch new methods and teams for dealing with customer requests. Please note that lenders are establishing & amending policies at a rapid rate to ensure that they support the needs of their customers. This means that while every effort has been taken to make certain that the information provided on this page is accurate at the time of writing, you should rely on the information being provided to you by your lender.

If you have any questions or concerns about contacting your lender, please let us know and we can work through it with you.

Adelaide Bank

Home loan and business loan customers can apply for repayment relief on loans for up to 6 months.

More information can be found here.

To speak to Adelaide Bank about a home loan deferral, please call 1300 650 259, or 1300 652 220 for business loans.

ANZ

If you’re experiencing financial difficulty due to COVID-19, ANZ may be able to support you by putting your loan repayments on hold for six months, with interest capitalised. If you pause your repayments, ANZ will check in with you after three months.

Homeloans: more information

Business loans: more information

Request a call back from ANZ to discuss putting your repayments on hold here.

AMP

AMP are allowing a pause in home loan repayments for three months, with the option to extend for a further three months, for clients who are experiencing ongoing financial challenges as a result of COVID-19.

More information is available here.

Applications for home loan deferral can be made here.

Auswide Bank

Auswide Bank’s home, personal and business loan customers who have lost their employment, experienced a loss in income or whose business has been financially impacted will have options such as deferring loan repayments, converting to interest only payments or reducing monthly loan repayments for up to 6 months.

More information & applications for repayment deferral can be found here.

Axsess Today (Angle Finance)

Axsess Today have not yet issued a statement of policy on how they will be assisting customers with repayment deferrals, but they are committed to helping on a case by case basis.

Please email enquiries@anglefinance.com.au with your details (name, date of birth, business name & a description of the asset financed) and request for repayment deferral. You can also call 1300 586 936.

Bank First

Bank First have not yet issued a statement of policy on how they will be assisting customers with repayment deferrals, but they are committed to helping on a case by case basis.

More information can be found here.

Applications for repayment deferral can be found here, or via phone on 03 9834 8530.

Bank of Melbourne

Bank of Melbourne small business customers who need help to manage their cash flow can defer principal and interest repayments of business term loans for six months.

More information is avialble here.

Applications for repayment deferral can be lodged here.

Bank of Queensland (BOQ)

BOQ announced Fast Track Hardship Assistance for customers who have been affected by the coronavirus. The Fast Track process offers impacted customers urgent access to a range of financial relief measures, which may include:

• the ability to defer mortgage and/or loan repayments;

• the option to make Interest Only repayments;

• special arrangements in relation to arrears;

• early access to Term Deposit funds with wavier of redemption fee; or

• waiver of other fees and charges related to non-payment.

The specific relief measures available to each customer will be assessed on a case-by-case basis.

For home, consumer vehicle and business loans, lease call 1800 079 866 to discuss your options.

BankSA

BankSA customers who have lost their job or suffered loss of income as a result of COVID-19 should contact the bank for three months deferral on their home loan mortgage repayments with extension for a further three months available after review.

More information is available here.

Applications for home loan or consumer car loan repayment deferral can be lodged here.

Applications for business loan deferrals can be lodged here.

BankWest

Bankwest is providing additional support to home loan customers who may need assistance at this time with an option to defer home loan repayments for six months.

Customers will be able to apply for a deferral of home loan repayments through an online registration process, which is currently under development and will be made available as soon as possible.

In the meantime, customers wanting to request a deferral of their home loan repayment can do so via secure messaging through Online Banking, or the Bankwest Mobile App, or by calling 1300 134 107.

More information is available here.

Beyond Bank

For both home loan & small business customers: If you are facing hardship due to a loss of income or change in circumstances as a result of COVID-19 and would like to discuss the options available for eligible home loan customers, please submit this form.

More information is available here.

Bibby Financial Services

More information is available here.

Bluestone

Bluestone understand the current situation makes it difficult for some customers to meet their home loan repayments. Bluestone has a long history of supporting customers experiencing financial hardship, and they have a range of options to support customers impacted by COVID-19.

More information is available here.

Capital Finance

Eligible Capital Finance customers who need help to manage their cash flow can defer repayments on vehicle and equipment finance facilities.

Applications for repayment deferral can be lodged here.

Citibank

Citibank understands that as a result of COVID-19, some customers may be experiencing financial hardship. They are available to support those customers during this time & have a range of ways to help you based on your individual circumstances, which may include things like varying the amount and frequency of repayments.

More information is avialble here.

CBA

CBA will be automatically deferring BetterBusiness Loan and Asset Finance principal and interest repayments for eligible small business customers with total lending limits with CBA up to $3 million in April, May and June 2020. CBA will contact customers from May onwards to confirm whether they need a further three-month deferral in line with the ABA loan deferral arrangements. 

More information is available here.

Homeloan repayments can be deferred for up to 6 months. More information is available here.

Credit Union SA

If you have any questions or if you are concerned about being impacted financially, please get in touch so they can discuss your individual situation and figure out how to best support you. Phone 08 8202 777.

More information is available here.

EMoney

Are committed to supporting customers who have been affected by the COVID-19 crisis directly or through loss of income and are experiencing difficulty. Please reach out via the following numbers to discuss how they can help.

Adelaide Bank: 1300 650 259

Advantedge: 1800 701 599

Firstmac: 1300 784 434

ING: 13 7283

Origin: 1300 767 023

Pepper Money: 1800 229 722

Resimac: 1300 764 447

Firstmac:

Firstmac have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis. 

Please email customercare@firstmac.com.au or call 13 12 20.

Get Capital

Get Capital have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis. 

Please email customercare@getcapital.com.au with your details (name, date of birth, & business name) & deferral request. 

Heritage Bank

Heritage Bank is offering a helping hand to people facing financial impacts as a result of the COVID-19 pandemic & have put together a package of relief measures that are available to customers on a case-by-case basis.

More information is available here.

An application for hardship is available here.

IMB

IMB have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis.

More information is available here.

Information about hardship assistance can be found here.

ING

To support customers who have suffered a loss of income or employment due to COVID-19, you can contact ING for a three month payment pause on your ING home or personal loan repayments. An extension for a further three months (total 6 months) may also be available on request and is subject to financial assessment. More information is available here.

Eligible ING small business customers who need financial hardship relief can request to defer repayments on their ING commercial loans for up to six months, with interest capitalised. More information is available here.

To apply for a repayment deferral, please call 133 464 (8am- 8pm, 7 days/ week).

Keystart

If you are experiencing difficulty meeting your loan repayments due to the impacts of coronavirus (COVID-19), please get in touch as soon as you can via email on hardship@keystart.com.au or call 1300 578 278 to discuss your options.

More information is available here.

Latitude

Latitude have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis.

More information is available here.

Log your request for a call back here.

LaTrobe

LaTrobe have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis.

Please call 1800 620 639 to discuss your options.

Liberty

Liberty have not yet issued a statement of policy on how they will be assisting customers with deferrals, but they are committed to helping on a case by case basis.

Please call 13 11 33 or email help@liberty.com.au

More information is available here.

Macquarie

All Macquarie business and personal banking clients who are experiencing financial difficulty can immediately defer their loan repayments for six months. This applies to all business loan, overdraft, home loan, car loan and credit card clients.

More information is available here.

Applications for repayment deferral can be lodged here.

Me Bank

For home loan customers impacted by COVID-19 and the current economic uncertainty, ME has introduced a home loan repayment pause for up to six months.

More information is available here.

Me Bank are working to support customers who need a repayment pause as quickly as possible, it is best to call 13 15 63 (8am – 8pm Monday to Friday, 9am- 5pm Saturday AEST) to discuss a repayment pause.

FAQs

Medfin

Medfin is allowing 6 months of repayment deferral on its range of business and asset loans.

More information is available here.

Applications for repayment deferral can be lodged here.

Metro Finance

Metro has introduced a streamlined process to assist affected customers, including up to 3 months’ payment deferral which can be further reviewed and extended if required.

This process is conducted over the phone so please call Metro Finance Customer Service on 1300 362 627 (select option 2 and then 4). Customers have a call-back option to avoid waiting on hold.

My State

If you’re experiencing financial difficulty due to COVID-19 and you need some help to get back on your feet, you may have the option of deferring your home, personal or business loan repayment for up to six months – we will check in with you after three months.

More information is available here.

Requests for business loan deferrals can be lodged here.

Requests for home or personal loan deferrals can be lodged here.

NAB

Business customers will be able to defer principal and interest for up to six months on a range of business loans, including floating and variable rates, and equipment finance loans, if experiencing financial difficulty.

Home Loans: more information can be found here.

Business Loans: more information can be found here.

Applications for repayment deferral can be lodged here.

Pepper

Pepper have not yet issued a statement of policy on how they will be assisting customers with deferrals on home loans, personal loans and business loans, but they are committed to helping on a case by case basis. 

More information is available here.

To speak to Pepper about a deferral, please call 1800 356 383, between 8:00am and 5:30pm, Monday to Friday (AEDT). Alternatively, you can request a call back here.

Applications for repayment deferral can be lodged here.

Resimac

Are committed to supporting customers who have been affected by the COVID-19 crisis directly or through loss of income and are experiencing difficulty. Please reach out via the following numbers to discuss how they can help.

Adelaide Bank: 1300 650 259 hardship@bendigoadelaide.co,.au

Advantedge: 1300 133 053 advantedge.assist@advantedge.com.au

Macquarie: 1300 651 393 bondstreetarrears@macquarie.com.au

Origin: 1300 767 023 credit@originmms.com.au

Pepper Money: 1300 668 959 peppercollections@pepper.com.au

RedZed: 1300 722 462 info@redzed.com

Scottish Pacific

Pepper have not yet issued a statement of policy on how they will be assisting customers with hardship, but they are committed to helping on a case by case basis. 

More information is available here.

Log your request for a call back here.

St George

Eligible St.George small business customers who need help to manage their cash flow can defer principal and interest payments of business term loans (excluding credit cards, overdrafts, cashflow/invoice/trade finance, commercial bills), Business Auto, equipment finance facilities and equipment loans for six months.

More information is available here.

Applications for repayment deferral can be lodged here.

Suncorp

Suncorp Bank’s financial assistance package is available to eligible personal and business customers in affected communities and sectors who may need additional financial support.

More information is available here.

Applications for home or personal loan deferral can be lodged here.

Applications for business loan deferral can be found here.

Thinktank Commercial

Thinktank have not yet issued a statement of policy on how they will be assisting customers with hardship, but they are committed to helping on a case by case basis.

Please call 1300 781 043 or email info@thinktank.net.au to discuss your options.

Virgin Money

Virgin Money announced Fast Track Hardship Assistance for customers who have been affected by the coronavirus. The Fast Track process offers impacted customers urgent access to a range of financial relief measures, which may include:

• the ability to defer mortgage and/or loan repayments;

• the option to make Interest Only repayments;

• special arrangements in relation to arrears;

• early access to Term Deposit funds with wavier of redemption fee; or

• waiver of other fees and charges related to non-payment.

The specific relief measures available to each customer will be assessed on a case-by-case basis. Please call 1800 701 997 to discuss your options.

Westpac

Westpac customers who have lost their job or suffered loss of income as a result of COVID-19 should contact us for three months deferral on their home loan mortgage repayments with extension for a further three months available after review.

Applications for home and consumer vehicle loan repayment deferral can be lodged here.

Eligible Westpac customers who need help to manage their cash flow can defer principal and interest payments of business term loans (excluding credit cards, overdrafts, cashflow/invoice/trade finance, commercial bills), equipment finance facilities and equipment loans for six months.

Applications for business loan repayment deferral can be lodged here.

More information is available here.