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While you won’t have to make any principal or interest payments for the 6 months, interest will continue to be accrued, it can then be paid off over the life of the loan once repayments begin again, or the length of the loan extended. This will be a conversation between you and your bank to determine your preference.  

There are many ways to contact your bank to access assistance. 

Firstly, online is best either through your bank’s website or smart phone app. 

Call centres are open and working overtime to help customers, however due to large volumes of calls we ask people to please be patient. 

Branches continue to remain open however due to the Government’s social distancing measures, it’s best to use digital banking if at all possible. 

Many banks are contacting their customers directly to see what help they may need. However, if you are worried it’s very important that customers contact their bank as soon as possible. The earlier you contact your bank the more assistance they will be able to provide.

Bank branches remain open to serve customers.  

In light of the government’s social distancing advice, some branches may limit the number of customers in the branch at one time. Customers should also ensure where possible they have up to date online banking arrangements or an app to conduct their banking business. 

Consistent with the government’s advice you should not come to a branch: 

• if you are experiencing flu like symptoms (cough, fever, shortness of breath); or
• if you have come into close contact or live with someone who has a confirmed case of COVID-19; or
• if you arrived in Australia from overseas after midnight Sunday 15 March; or
• if you have travelled from or through mainland China, South Korea, Iran or Italy in the last 14 days; or
• if you live with someone who has travelled through mainland China, South Korea, Iran or Italy in the last 14 days

As a result of the Government’s social distancing advice, banks are encouraging customers who are able to do their banking online or through their smart phone, should do so.  

Branches and ATMs will remain open throughout the pandemic. There may be a limited number of instances where a branch needs to temporarily close, however customers affected will be directed to a branch nearby. 

The Banking Code of Practice prohibits banks from requiring people to access superannuation to pay amounts owed (unless the borrowing is for a self-managed superannuation fund).