| Which Banks |
How they Support/What they Offer |
Eligibility Criteria (subject to change, check with your bank to see if you qualify) |
| AMP |
- A pause in loan RPMTs for 3 months.
- Access to term deposits before maturity w/o interest penalties.
- Fee waivers where customers require same day fund transfers via SWIFT.
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Must be a home loan, practice finance or deposit customer. |
| ANZ |
- Short-term PMT relief on home loans, credit cards, personal loans, some business loans (may still charge interest).
- Waive fees for restructuring business loans.
- Waive fees for accessing term deposits early.
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| Bank Australia |
- Lower repayments and extended loan term.
- Pause repayments until the client can pay them again.
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Be a Bank Australia customer who is experiencing financial difficulty.
Apply through the hardship assistance form. |
| Bank of China |
- Deferred repayments on home loans up to 3 months.
- Loan restructuring for existing loans without bank fees.
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Have to apply through financial hardship application. |
| Bendigo and Adelaide Banks |
- Home Loan and Business Loan customers can apply for relief on loans for up to three months
- Discounted interest rates on new personal loans taken out by existing Bendigo Bank customers
- Waiver of interest rate reduction for early withdrawals on term deposits prior to maturity
- No ‘loan break’ costs for customers with a fixed rate who use an insurance payment to pay out their loan
- Merchant rental fees may be waived for impacted businesses.
- Bendigo Banks agribusiness specialist ‘Rural Bank’ provides disaster assistance measure to customers: they will work the impacted farming customers to apply the most appropriate support.
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Those affected by natural disasters in South-East Queensland/Northern NSW. |
| BOQ |
- 90 Day deferral of loan RPMTs (home, business, personal, asset finance) – may be capitalised to the loan over the remaining term.
- Waiver of fees associated with transactions related to financial difficulty assistance.
- Early release of funds held in term deposits (includes waiving fee).
- Temporary overdrafts for transaction accounts.
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Available to customers of BOQ, BOQ specialist, and BOQ Finance who are affected by extreme weather. |
| CBA |
Support for Individuals:
- Customised PMT arrangements such as option to defer loan RPMTs.
- Waived fees/charges.
- Temporary overdrafts, additional loans or credit limit increases.
- Early access to term deposits.
- Emergency accommodation assistance for CommInsure Residential Home Insurance customers whose homes have been damaged.
- Expedited CommInsure home/contents insurance claims.
Support for Businesses:
- Deferred business loan RPMTs if eligible.
- Refund merchant terminal fees up to 90 days/waiver of merchant terminal non-return fees for eligible customers.
- Specialised tailored support for larger business customers.
- Early access to term deposits, cash deposit, farm management term deposit and business investment accounts.
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Customers who have been impacted by the floods, or whose business has been.
Can apply online, in person, or over the phone to discuss individual circumstance.
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| ING |
Temporary Difficulties
- Capitalisation of arrears (money owed on your home loan is added to the balance and paid off over its life)
- Extending term of your loan to reduce RPMTs.
- Agreed to IR only PMTs for a short period.
- Changing home-loan type.
Permanent Difficulties
- Agree on an alternative arrangement/plan/contract.
- Change loan terms.
- Give you time to sell your property.
- Give you info about bankruptcy/insolvency arrangements.
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Customers who have experienced temporary or permanent difficulties because of the flooding. |
| Liberty |
Depending on individual circumstances, customers can:
- Reduce current RPMTs to the minimum monthly RPMT
- Defer repayments
- Access a payment moratorium.
- Switch to interest-only.
- Redraw funds.
- Access insurance to cover them in the event of involuntary unemployment.
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For customers who:
· Lost their job
· Experienced reduced income.
· Suffered illness/injury.
· Been affected by natural disasters or COVID-19. |
| Macquarie |
- Changes to RPMT terms for home loans, credit cards and car loans.
- Re-assessment of loan terms for busines banking clients.
- Living fees/restrictions that may apply to Macquarie’s products.
- Range of emergency assistance measures to support clients with urgent needs.
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Available for anyone across Queensland and NSW who have been affected by the recent flooding. |
| NAB |
- Credit card and personal loan relief
- Waiving the establishment fee for restructuring business facilities
- · Concessional loans to customers seeking support to restructure existing facilities to assist in repairs, restocking and re-opening for business
- Reducing and moratorium on home and personal loan repayments
- Providing $1,000 grants to customers/colleagues affected by the flooding – for those whose homes have experienced significant damage to their homes.
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All customers in South-East Queensland who have been impacted by the flooding. |
| Virgin Money |
- 90-day deferral of loan repayments which may be capitalised to the loan over the remaining term.
- Waiver of fees associated with transactions relating to the financial difficulty assistance.
- Temporary overdrafts for transactional accounts;
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Provide Emergency Fast Track Relief assistance to customers affected by the flooding across Queensland and Northern NSW. |
| Bank of Melb/St George |
For Customers:
- Customers with home loans can apply to defer repayments up to 3 months.
- Affected credit card customers can apply to defer RPMTs for up to 90 days.
- Those wishing to purchase replacement goods may apply for a personal loan at a discount IR with no establishment fee.
- Customers wishing to withdraw term deposits may be eligible for waived IR adjustments.
- Those experiencing hardship may also be offered a halt on all Interest accrual on unsecured credit products for up to 3 months.
For businesses:
- Customers with business loans may apply to defer RPMTs for < 3 months.
- Affected businesses w/ existing loans can request loan restructuring w/o incurring bank establishment fees.
- Affected businesses w/ merchant facilities are eligible to receive assistance, including monthly terminal access fee waivers for < 3 months.
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Available for eligible customers affected by the flooding in South-East Queensland/Northern NSW. |
| Westpac |
For Customers:
- Customers with home loans can apply to defer repayments up to 3 months.
- Affected credit card customers can apply to defer RPMTs for up to 90 days.
- Those wishing to purchase replacement goods may apply for a personal loan at a discount IR with no establishment fee.
- Customers wishing to withdraw term deposits may be eligible for waived IR adjustments.
- Those experiencing hardship may also be offered a halt on all Interest accrual on unsecured credit products for up to 3 months.
For businesses:
- Customers with business loans may apply to defer RPMTs for < 3 months.
- Affected businesses w/ existing loans can request loan restructuring w/o incurring bank establishment fees.
- Affected businesses w/ merchant facilities are eligible to receive assistance, including monthly terminal access fee waivers for < 3 months.
- Small business customers who are eligible can apply for $3,000 in cash grants per customer to help with urgent expenses/repairs.
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Available for eligible customers affected by the flooding in South-East Queensland/Northern NSW. |
