COVID-19: Business loan repayment deferral check-in
To assist with managing your next steps during this challenging time, we’ve outlined three options for you to consider. To submit your selection, you’ll need to enter your surname and the 8 character unique reference number we sent you via email or SMS.
- Your selection will apply to repayment deferrals on business loans only (this includes business term loans, business auto and equipment finance facilities and equipment loans).
- Your selection will not apply to business credit cards (altitude and business choice), Fixed Rate Business Bank Bill Loans, Novated Leases, Commercial Hire Purchase facilities, Insurance Premium Finance facilities as well as any personal accounts with COVID-19 support packages applied – including home loans and consumer auto loans with three-month payment pauses. These repayment deferrals or payment pauses will remain unchanged.
Frequently asked questions
We are working to process a high volume of requests. Your request will be processed by one of our team. We will endeavour to do this as soon as possible, noting that the volume of requests we are receiving may cause delays.
Your deferral period will be cancelled, and your repayments will commence, once your request is processed by us. We will contact the borrower to provide updated repayment details before the next repayment is due.
Although you’re not required to make any repayments during the repayment deferral period, the removal of the minimum monthly repayment doesn’t prevent you from making payments to your credit card balance at any point in time.
Interest on outstanding purchase and cash balances, including those made during the repayment deferral period, will be calculated and accrued daily at a reduced rate of 9.46% per annum on new and outstanding purchases and cash balances.
We’re here to help. If your circumstances change, please contact your relationship manager or call us on 1300 650 110 to discuss your options
If you would like to speak to us about your business loan repayment deferral, please let us know by completing the online form and we will contact you to discuss your circumstances.
Please refer to the communications you received from us after your business loan deferral application was approved.
We’ll remind you when your business repayment deferral period is about to end. When it does, you’ll need to start making repayments again.
- If you’ve already contacted us to make changes to 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 you don’t respond, we’ll continue with your current business loan repayment deferral, with your repayments resuming at the end of the six-month deferral period as planned.
- If you have any other packages which are excluded from this check-in, we will contact you closer to the deferred repayment or payment pause end date.
Things you should know
1. Extension of the deferral period is subject to eligibility criteria and further credit assessment.
* For Equipment and Auto Finance loans and facilities, fees which accrued during the deferral period will be waived. For all other facilities, Loan Service Fees, Loan Administration Fee’s and Service charges which accrued during the deferral period will be waived. Line Fees which accrued during the deferral period will be payable and will either be added to your loan balance or debited from a nominated account at the end of the deferral period. If your Line Fees have been added to your loan balance and are usually debited from a nominated account (not added to your loan balance), you can choose to pay the Line Fees at the end of the deferral period. If you would like to do this, please contact us to arrange this after the line fee has been added to your loan balance.