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Talk to your bank. Don’t tough it out on your own.
Talk to your bank
Banks have helped customers impacted by COVID-19 with:
- Help with home loan repayments
- Small business recovery loans
- Help with credit card repayments
- Credit rating protection
- Increased customer support
How banks helped during COVID-19
Relief Package
Personal Assistance
Banks partnered with customers through this difficult time, and introduced a wide range of options to support.
Learn more
Relief Package
Business Assistance
98% of all businesses (including not-for-profits) with a loan from an Australian bank were eligible for loan deferrals.
Learn more
When customers ended their initial loan deferral period, Phase Two support began.
Phase Two
Stage 1
Stage 2
Stage 3
COVID-19 credit reporting improvements
Find your bank
Select your bank to find out more about their individual relief packages
Don’t tough it out on your own
It’s not just COVID-19. Customers can get help if they’re impacted by bushfires, floods, or anything.
Australian banks issued debit cards to people who didn’t have them during COVID-19.
COVID-19 updates
Show updates for:
One year on: banks ready to support customers as more resume repayments
17 March 2021
“Over the past year, banks have cushioned the blow for their customers. Through 2021, their priority is helping customers rebuild and get ahead”
TRANSCRIPT: ABA CEO Anna Bligh on ABC NewsRadio: banks still supporting customers
20 January 2021
“…banks can go back to their normal processes and that is working out what’s right for every single customer, on an individual tailored basis with a proper assessment. That is the best thing for the customer.”
TRANSCRIPT: ABA CEO Anna Bligh on ABC Radio’s AM 18 November “a chance to get back on their feet”
18 November 2020
Interviewed by AM’s Peter Ryan, ABA CEO Anna Bligh talked about the substantial drop in loan deferrals since their peak during the pandemic, falling from 900,000 to 300,000.
Majority of deferred loans back on track
17 November 2020
The number of deferred loans has fallen below 300,000 – a reduction of almost 70% since the peak earlier this year.
COVID-19 refinancing breaks records: Anna Bligh on ABC News Breakfast
2 November 2020
“we’ve seen a record high number of Australians switch their loans, either to another bank or gone to their own bank and got a better deal.”
ABC Sydney Radio – Interview with Anna Bligh
30 October 2020
Anna answered questions about the impact of COVID-19 on banks’ profits, how banks have responded to help customers during the pandemic and what’s happening next to customers who’ve deferred their mortgages.
Flow of credit to small business remains strong
20 October 2020
Since February 1, Australian banks have approved over $41b for SMEs and sole traders. That’s an average of $5 billion per month.
Today interview with ABA CEO Anna Bligh: “banks are very encouraged”
15 October 2020
Interview: Almost 45% of Australians who deferred their mortgages in June have begun repaying their loans.
Repayments have resumed on almost half of deferred loans
14 October 2020
Almost half of deferred loans are now being repaid again as Australians recover from the pandemic
Budget 2020 charts the road to recovery
6 October 2020
This year’s federal budget will help Australia recover from the economic impact of COVID‑19 and create jobs as the nation recovers. The Australian Banking Association has welcomed the strong focus on support for small and medium businesses and direct assistance to families. “Australian banks stand ready to continue their role helping millions of Australians through… Read more »
6-month loan assessments begin as Australians resume loan repayments
7 September 2020
Australia’s banks supported their customers as the country entered the COVID-19 pandemic and they continue to support them on the way out. As the initial wave of 6-month loan payment deferrals come to an end, banks have begun to contact customers for their 6-month assessment and to discuss the next stage of support and assistance. … Read more »
FAQs: what you need to know about COVID-19 bank relief
20 August 2020
Helping businesses to remain viable and keeping people in their homes is good for everyone.
Increased small business lending boosts Australia’s economic recovery
24 July 2020
“These figures show there are some green shoots emerging in our economy and that’s a positive sign.” – ABA CEO Anna Bligh
Banks enter phase two on COVID-19 deferred loans
8 July 2020
This new phase of support turns a cliff into manageable steps for Australians to get back on track.
Banks welcome creative economy restart
25 June 2020
Businesses in the creative industry who are looking to take advantage of the government-backed concessional loans should get in touch with their bank.
COVID-19 Australian Banking Statistics
19 June 2020
Banking activity during the coronavirus pandemic. Between 14 May and 19 June the ABA published data on total deferrals member banks made to customers. These figures represented the sum total of deferrals made at the time of each data publication, and does not account for deferrals which had been reversed at the customer request. ABA’s… Read more »
Banks defer repayment of 429,000 mortgages due to COVID-19
16 May 2020
Banks have deferred the repayments of one in fourteen mortgages totalling more than $150 billion to assist Australians through the COVID-19 pandemic.
Banks deferred 100,000 extra loans this week: total more than 643,000
8 May 2020
Australia’s banks deferred an extra 100,000 loans, this week, including approximately 50,000 home loans, to help customers through the COVID-19 Pandemic. Total number of loans deferred is now at least 643,000.
Australian banks step up to support customers and the economy
3 May 2020
Since the start of the COVID-19 pandemic, banks have provided an estimated $6.8 billion of deferrals and more than $45 billion in new loans.
Banks bolster efforts to help businesses bridge the gap to Jobkeeper
23 April 2020
Today the Treasurer met with the CEOs of ANZ, NAB, Westpac and the Commonwealth Bank who agreed to bolster their efforts to prioritise any business needing funding to bridge the gap until the first Jobkeeper payments are made in May. It was agreed special hotlines would be set up to help manage the applications from… Read more »
SME Loan Guarantee scheme a lifeline to struggling small businesses
9 April 2020
“Banks stand ready to throw a lifeline to businesses across the country who are doing it tough through this COVID-19 crisis.”
Banks to help commercial landlords who help tenants through COVID19
30 March 2020
Commercial landlords can get debt relief from their bank, if they don’t terminate leases or evict current tenants for rent arrears due to COVID19.
Second stimulus package will help support small business
22 March 2020
Today’s announcement by the Federal Government of a second stimulus package, which includes an SME Guarantee Scheme and direct cash grants, will help keep businesses open and save jobs, building on the measures already announced by banks on Friday. The SME Guarantee Scheme which allows for further funds to be injected into small business will… Read more »
Banks announce Small Business Relief Package
20 March 2020
Australian banks will defer loan repayments for small businesses affected by COVID-19 for six months.
Banks are ready to face coronavirus challenge
11 March 2020
Any business financially impacted by the effects of COVID-19 should contact their bank
COVID-19 Banking Timeline: a financial history of the pandemic.
Helpful resources
ABA also has a range of other useful resources that may assist you in getting through these tough times:
- Visit our COVID-19 Resource Hub
- Download the Financial Hardship fact sheet
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