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Applications for repayment deferrals closed on 30 September 2020.

If you are currently on a COVID-19 Business support package, your deferral period may be ending soon. To assist you, we have outlined important information. We will be in touch prior to your repayment deferral period expiring.

Deferral extension

A further business loan repayment deferral period may be possible for some small business customers, following a review of your current circumstances.  Extension of the deferral period is subject to eligibility criteria and further credit assessment.

Recommencing your repayments

Before your repayment deferral ends, you will need to ensure the following:

  • Check there are sufficient funds available for repayment of the loans and that arrangements are made to make payments on the business credit card.
  • Ensure that repayments for loans initiated by direct credit from another institution or an employer are reinstated at the end of the repayment deferral period.
  • For loans, where we initiated direct debit payments to the account prior to the repayment deferral period, those payment arrangements will be reinstated at the end of the repayment deferral period.
  • For business credit cards, Refer to your last statement prior to your payment deferral period for the interest rates that your business credit card will revert to.
  • Contact us if you wish to request any changes to your direct debit arrangements.

Request more support

Let us know if you think you might need additional support or will be unable to resume repayments. We’re here to help and can discuss options that may be available to you.

Call 1800 067 497 or speak to your Relationship manager.

Repayment deferrals - your questions answered

If you have already contacted us to make changes or cancel your business loan repayment deferral, you don’t need to take further action. We’re currently working through your request and will be in touch as soon as we can. 

If your application is approved, and you make a repayment between the date you submitted your application and the date when the repayment deferral is processed, we’ll return those funds to you. If this isn’t possible, we’ll apply them to the loan balance on your accounts.

For business loan/s, interest deferred will be capitalised.

If you have questions speak to your Relationship Manager or a registered tax or BAS agent.

For business credit card/s, interest will be capitalised to the account monthly unless the closing monthly statement balance is paid in full, however at the reduced rate of 9.46% per annum on new and outstanding purchases and cash balances during the deferred repayment period.

For business loan/s, once approved, your deferred payment period will start from the date you submitted your application1 for six months.

For business credit card/s, the repayment deferral will apply from the date of processing, for six months.

Please wait until the application is approved before considering cancelling direct debits. If your application is approved and processed, to cancel an upcoming direct debit, call us on 132 142 Monday to Friday 8am to 8pm. Please note that our phone lines may be busier than usual due to the high volume of calls, but we do have people available to help. Alternately, please contact your Relationship Manager.

Once your application for repayment deferral is approved please disregard any new notices you may receive from us regarding payments in arrears during the period between applying for a deferral and your deferral being approved.


Once your application is approved, we will reverse any new fees or charges incurred as a result of your account appearing to be in arrears from the date your application has been submitted.

If your application is approved your credit score, credit rating and repayment history won’t be impacted as a result of deferring your repayments from the date your application has been submitted provided your account was otherwise in order.

No. There are no fees or charges for applying for a business loan or business credit card repayment deferral.

You will receive an acknowledgement of your submission within 24 hours of us receiving it. You will receive notification of this via email so please ensure you provide accurate contact details in your application. If for some reason you do not receive this message, please re-apply.

Eligible small business customers that need additional support at the expiry of their business loan repayment deferral period can apply to extend their repayment deferral period by up to four months. Extension of the deferral period is subject to eligibility criteria and further credit assessment. For those currently with business loan repayment deferrals in place, we will be in touch with you prior to the deferred payment period ending to let you know the options available if you require additional support.

For business loan/s: After the deferred payment period is over, you’ll recommence making repayments on the new balance of your loan using the payment process you had originally nominated such as direct debit. The loan term will also be extended by at least six months to account for the higher loan balance.

For business credit card/s: After the deferred repayment period is over, your monthly statements will again request the usual Minimum Monthly Repayment amounts and your purchase and cash interest rates will revert to the previous rates that were in place for your credit card account before your repayment deferral period began.    

We understand that the COVID-19 pandemic is an uncertain time for many businesses, which is why we’ve put in place a number of support measure to help our impacted business customers. Find out more about our how we’re helping businesses during COVID-19.

Did you know?

If you need help with repayments on your home or investment property loan in the name of a business, trust or SMSF, please call Customer Assist on 1300 136 138 (Select ‘Option 2’) so we can help you work through the options available.

Things you should know

Terms, conditions and eligibility criteria apply.


1. Interest deferred will be capitalised. Terms and Conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral repayment period and will include finance charges.


2. Please note that customers with an overdraft facility should utilise their available balance in the first instance and speak to their Relationship Manager if further assistance is required. Customers with cashflow/invoice/trade finance and commercial bill facilities requiring assistance should also refer to their Relationship Manager.


3. For business credit cards interest on outstanding purchase and cash balances, including those made during the deferred repayment period, will be calculated and accrued daily at a reduced rate of 9.46% per annum. Interest will be capitalised to the account monthly unless the closing monthly statement balance is paid in full. Standard fees otherwise continue to apply and will be charged to the credit card account. You will not be required to make any repayments during the deferred repayment period, however, the removal of the minimum monthly repayment does not prevent you from paying down your balance at any point in time, and we encourage you to do so to minimise interest costs where possible.


4. Depending on the type of loan, the deferment may be effective immediately after your last interest payment date. This could be earlier than the date you submitted your application.