fbpx
Skip to main content
New Financial Assistance Hub

Banks supporting customers as lockdowns extended

17 July 2021

Australian banks are ready to assist their customers affected by tightened lockdowns in New South Wales and the reintroduction of restrictions in Victoria.


A range of support measures are available for businesses, sole traders and households, including loan repayment deferrals.

“As the lockdowns get worse, customers can rest assured that their bank will have their back”, said Australian Banking Association CEO Anna Bligh.

“Today’s announcement in NSW means more businesses, construction workers and tradies will be unable to work in the coming weeks. If they are struggling financially, the best thing they can do is call their bank.”

“Throughout the pandemic, Australian banks have worked with Government to support those most affected. They’re determined to see customers through the worst”, Ms Bligh said.

On July 8, the ABA announced a national support package for all small businesses and home loan customers significantly impacted by current lockdowns or recovery from recent lockdowns, irrespective of geography or industry.  


On application, the support includes:

Business banking repayment deferrals:

  • Up to 3 month repayment deferrals, with loan terms extended accordingly
  • Offered to all small business customers (business lending less than $3m and a turnover of less than $5m), which includes up to 98% of small businesses
  • Only for loans in good standing (i.e. repayments up to date or engaged in a payment program with their bank)

Everyday banking support

  • Refunds of merchant terminal fees for up to 3 months
  • Waiving of fees and notice periods on Cash Deposit and Farm Management Deposit accounts for up to 3 months

Home loan support

  • Range of support measures, including deferrals on a month by month basis  
  • Available to both individual and business customers

Don’t tough it out on your own: contact your bank if you’re in financial difficulty


Latest news

1 / 3
Don’t fall for a fake cupid this Valentine’s Day  
13 February 2024

Love is in the air, but so are scammers looking to exploit the season of hearts and flowers.   As Valentine’s Day approaches, the Australian Banking Association (ABA) urges everyone to be extra cautious and scam-proof their heart from romance scams and other fraudulent schemes.  “Scammers play the part and prey on people’s emotions,” ABA CEO… Read more »

Read more
Banks hardship teams on standby to help cyclone-impacted communities in Queensland 
31 January 2024

Banks have dedicated hardship teams on standby to help those impacted by Tropical Cyclone Kirrily and the Australian Banking Association has urged those in need of financial assistance to reach out.  “With the second major cyclone in as many months followed by torrential rain, people in Queensland have been dealt yet another serious blow. I… Read more »

Read more
Media Releases
Banks stand ready to support cyclone-impacted communities in Far North Queensland 
18 December 2023

Today the Australian Banking Association has told Queenslanders impacted by major flooding as a result of cyclone Jasper that banks have teams on standby to help those in need.  “The ABA urges anyone in need of financial assistance to reach out to their bank, and to do so as early as possible. Dedicated hardship teams… Read more »

Read more