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Personal customers impacted by coronavirus 

We're here to help

We understand how hard it is for some people to ask for help. It’s a difficult, uncertain time but we’re here for you.

If you are worried about your finances it’s important that you contact us as soon as possible. The earlier you contact us the more assistance we will be able to provide.  

This page is updated regularly so keep visiting.

Financial assistance package

If you need financial help during a difficult time, we offer an assistance package which can include:

  • Discounted interest rates on new personal loans for Bendigo Bank customers
  • No interest rate reduction for early withdrawals on term deposits

You may be able to apply for relief* on your:

  • Home loan, residential investment loan, or line of credit
  • Personal loan
  • Personal credit card
  • Equipment finance loan
  • Personal overdraft

Already deferred repayments for six months?

You may be eligible for an additional four months relief. We’ll contact you to discuss your circumstances near the end of your six-month repayment relief period.

At the end of the initial deferral period we expect customers to resume full repayments. If you indicate that you may not be in a position to recommence repayments and seek additional assistance, we’ll need to understand your circumstances in more detail. To do that, an assessment of your financial position will need to be done. This might conclude that you have the capacity to recommence repayments, or it might result in a restructure of your banking facilities.

The bank will work with you to identify appropriate solutions, ensuring they’re sustainable and realistic.

Customers who have the capacity to recommence repayments will be offered:

  • A resumption of repayments at a higher amount to maintain your existing loan term.
  • A resumption of repayments including an extension of loan term in line with your deferral term.

If a restructuring of your facility is a more appropriate outcome based on your current circumstances the following may be considered:  

  • Extending your loan term by longer than the COVID-19 impacted deferral term.
  • Consolidation of your debts.
  • Extending interest only arrangements for up to 12 months.
  • Conversion of your principal and interest payments to interest only payments for up to 12 months before resuming principal and interest repayments over the remaining term.

If you’re unable to resume repayments in any form, the Bank may consider a deferral extension of up to 4 months. For this extension to happen, we’d need to establish on reasonable grounds that you’ll be able to resume repayments within the further deferral period. In this scenario, interest will continue to be charged.

We encourage you to view our online calculator so that you fully understand the impacts of ongoing non-payment on your banking facility.

If you have any questions about your banking facilities or deferral period, please contact us on 1300 236 344 so that we can assist you further.

Explore your options

COVID-19 has impacted people all around our country, and indeed the world.

We’re committed to supporting our customers through these challenging times as much as we possibly can. 

This video explains your options and the impact of possible changes to your repayments as part of a COVID-19 assistance package.

Let our online calculator help you

You may like to use our online calculator to show the effect to repayments and total interest payable as a result of deferring and/or extending the loan term. You can request financial assistance support from our calculator page.

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Do you have questions around your insurance?

Our COVID-19 FAQ's are here to help.

Federal Government COVID-19 economic package

The Federal Governments continues to offer support through its COVID-19 economic package. We’ll make sure income support and other payments made by the Government are processed as quickly as possible.

The Government is also giving you access to up to $10,000 of your superannuation in 2019-20, and a further $10,000 in 2020-21.

More support information from the Australian Government 

Visit the Australian Government website for more information on the Government's response to Coronavirus.

For Australian Government’s Economic Response visit the Treasury website.

* Important information - Based on your circumstances, you may defer repayments on your home loan, residential investment loan, lines of credit, personal loans, personal credit cards, equipment finance and personal overdrafts.

If you choose to do this, interest and fees will still be added to your loan balance during that time.  Once the deferred period finishes, we’ll work with you on a plan to repay the amount you’ve deferred. This might involve increasing your minimum repayments for the deferred period, or extending the term of your loan.

As always, we’re here to help discuss your options and how they’ll affect you.

Bendigo and Adelaide Bank Limited, ABN 11 068 049 178 AFSL / Australian Credit Licence 237879. Any advice provided on this website is of a general nature only and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Please read the applicable Disclosure Documents before acquiring any product described on this website. Please also review our Financial Services Guide (FSG) before accessing information on this website. Information on this page can change without notice to you.

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