Banks Respond to COVID-19: Support being offered
During these hard times we understand that there is a real possibility that your ability to meet your financing requirements may be impacted by the current economic conditions.
Fortunately, in conjunction with the government stimulus package, many of the banks are stepping up during this time and offering concession to help those affected, such as:
- Deferral of principle and interest repayments (deferral periods vary).
- Allow for variation of monthly repayments (below minimums or interest only repayment).
- Increasing overdraft facilities.
- Assistance with refinancing or consolidating loans and cutting down of red tape.
- Reducing the interest rates on loans and overdrafts (reductions may vary); and
- Waiving of some ongoing and establishment fees.
This is on both business and home loans – concession vary from bank to bank.
We do recommend getting in touch with your bank or banking representative to during this time, whether you are suffering financial hardship, or not.
Below is a direct list of all major banks, contact numbers and links to their confirmed support (where applicable):
Commonwealth Bank Customers
https://www.commbank.com.au/latest/coronavirus.html?ei=hp-ban-cvp-default-coronavirus
Personal banking 132 221 | Business banking 132 607
National Australia Bank Customers
https://www.nab.com.au/personal/customer-support/covid19-help
Customer support number 13 22 65
ANZ Bank Customers
https://www.anz.com.au/promo/covid-19/
Home owners 132 599 | Business owners 1800 413 950
Westpac Bank Customers
Personal banking 132 032 | Business banking 132 142
Suncorp Customers
https://www.suncorpgroup.com.au/news/news/suncorp-reduces-rates-supports-small-businesses-households
General enquiries 131 155
Bank of Queensland
https://www.boq.com.au/help-and-support/assistance
General enquires 1300 55 72 72
Heritage Bank
https://www.heritage.com.au/about/news/2020/heritage-responds-to-covid19-situation
General enquiries 131 422
Newcastle Permanent
Enquiries 131 987
ING Direct
https://www.ing.com.au/help-and-support/coronavirus-covid-19.html
Enquiries 133 464
Summerland Credit Union
https://summerland.com.au/covid-19
General enquiries 1300 802 222
Rabobank
https://www.rabobank.com.au/covid-19/
Enquires 1800 025 484
St George
https://www.stgeorge.com.au/about/sustainability-and-community/disaster-relief/covid-19
General enquiries 13 33 30
Members equity (ME) Bank
https://www.mebank.com.au/support/coronavirus-information/
General enquiries 13 15 63
Bendigo bank
https://www.bendigobank.com.au/help/coronavirus-assistance-package/
General enquiries 1300 236 344
We apologise if your bank is not listed above and note this is not an exhaustive list. If your bank is not listed above, we recommend going to their website to check their response.
If you have any queries or if we can be of any assistance in these regards, including assisting with cash flow planning, forecasting, provision of information or anything in between, please contact us and we will help in any way possible.