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Financial assistance: Navigating the support you need to recover

Westpac has been helping Australians for over 200 years, in both good and challenging times. The COVID-19 pandemic has changed our lives and many of us are seeking financial assistance. Federal, State and Territory Governments and businesses are having to react quickly to this health and economic crisis, and this impacts us all. If you’ve been affected by these changes, we can help you navigate a path to recovery.

Home loan assistance

For more on home loan repayment deferrals eligibility and to apply, visit our Home loans support page.


For information about other options including Redraw, Insurance, Adjusting your direct debit or reducing repayments, or switching to interest only, visit our Home loans support page for more.


Our low fixed rate home loans may be something you want to explore. A fixed rate can give you the certainty of knowing exactly what your repayments will be, making it easier to budget and know what your outgoings will be. To find out more, go to the Home loans interest rate page.

Rental assistance

Financial assistance or hardship assistance for renters may also be available from the Government, see Services Australia for more on hardship assistance for renters.

Credit card, Personal and Flexi Loans

If you have lost your job or suffered a loss of income as a result of COVID-19 you may be eligible to pause your repayments and interest charges for three months on Credit cards, Personal Loans or Flexi Loans. To find out more or to apply, visit the Credit card, Personal Loan, Flexi Loan support pages. (For business customers, where your needs may be slightly different, please refer to our Help for business customers page.)

Financial hardship assistance programs

If you don’t qualify for COVID-19 support and need assistance, or you still need support after the COVID-19 support periods are over, financial hardship support is available.


Our Financial hardship assistance programs FAQs can help you determine whether you should apply for financial hardship.


We understand customers can sometimes need help in different ways and at different moments in life. Our Customers in need of extra care page has been set up to support you or those close to you if you need financial hardship support.

Business help

Visit our Help for business customers page to see how we can support you. Some financial assistance options to consider include loan and credit card repayment deferrals, temporary overdrafts, merchant terminal fee relief and more.

Term Deposit accounts

You can choose to have your interest paid monthly on all our term deposits, providing you with a regular income. The total interest you’ll earn won't change, no matter what payment frequency you choose. Visit our Term Deposit page for more information on how term deposits work, interest rates and more.

Secure your ongoing financial future with a plan

One of the important measures you can take to help manage your finances is to get a clear picture of your financial position. What does your income and spending look like?


Our Cost-cutting checklist (PDF 216KB) can help you cut unnecessary expenses for the short term. Having applied any immediate financial relief measures, such as cost cutting or any repayment deferral elements from our Customer Support Package, take a look at your budget. Our Budget planner can help you understand and manage your cash flow, and prepare for the future.

Job loss and income reduction

Looking for a new job and finding ways to increase your income can feel daunting, especially during an economic downturn. However, being prepared can help. If you’ve been financially impacted, our Have you been financially impacted page details a number of measures that may help you prepare and plan for the future. You can also work through the uncertainty of unemployment with the articles and tools in our Navigating job loss hub.


If you’re maintaining an income in retirement and the ongoing economic situation is leaving you unsure about your future, you may want to speak with a financial advisor about your options. No matter what you decide to do always get advice from a qualified professional. You can also see if you’re eligible for additional payments from the government; visit Services Australia Older Australians, for more.

Financial upskilling

There are many ways you can increase your understanding of your finances and how you can plan for a more secure future. Why not have a look at our article, Sleep easy knowing you’ve got emergencies covered?

Your wellbeing

Looking after your overall financial wellbeing is important and our support measures are here to help you do that. When we are all unsure about what the future holds, it’s also critical to look after our mental wellbeing and physical health. If you’re feeling anxious, emotional, or have other mental health conditions, consult your regular doctor about an appropriate course of care. You may be eligible for Medicare rebates on psychological services. Many companies have employee assistance programs which include counselling services, and which may be open to family members. Check with your employer on what is available. You can also contact LifeLine on 13 11 14, Beyond Blue 1300 22 4636 and Headspace for support.


If you’re older, the risk of serious illness in the case of COVID-19 increases with age. If you do need to come into a branch, please remain aware of health and social distancing guidelines. Some of our branches may be temporarily closed. Please see up-to-date information on closures and health guidelines at our Visiting our branches and temporary branch closures page.

Support for our remote customers

No matter how remote your location in Australia, we can help you with your banking and financial needs. Find out more about our Remote banking services, or call our Indigenous Call Centre Team (Indigenous Connection) on 1800 230 144. This service is available Monday to Friday 8:00am – 5:30pm, CST and offers translation services.

Additional Government financial assistance

You can seek further financial assistance from the Government, including through JobKeeper and JobSeeker. You may also be eligible for utility relief and free childcare. For more, see our COVID-19 Government assistance page.

Related articles: 

Budgeting to help recover from a financial setback

Getting your finances back on track following a financial setback can help you feel more in control and confident about the future.

Sleep easy knowing you’ve got emergencies covered

There are many things that can disturb your sleep when it comes to money. Having an emergency fund saved can help to ease those concerns.

Things you should know

This information is general in nature and has been prepared without taking your objectives, needs and overall financial situation into account. For this reason, you should consider the appropriateness for the information to your own circumstances and, if necessary, seek appropriate professional advice.

© Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.