Bendigo Bank announces nationwide COVID support
Small business and home loan customers significantly affected by current or recent COVID-19 restrictions across the country are being offered dedicated assistance through a new support package announced today by Bendigo Bank. The package extends the Bank's existing hardship support measures already in place for customers financially affected by the pandemic.
The new national support package includes:
Business banking repayment deferrals
- Up to three-month repayment deferrals, with loan terms extended accordingly offered to all small business customers with business lending valued at less than $3 million and where the business has a turnover of less than $5 million.
- Customers applying for this support must be up to date in their repayments or have a repayment program arrangement in place.
- Customers with asset finance or overdraft products will be assessed on their personal circumstances.
Everyday banking support
- Refunds of merchant terminal fees for up to three months.
- Fees and notice periods on Cash Deposit accounts waived for up to three months.
- Specialised targeted support for larger business customers.
Home loan support
- A range of support measures available for both individual and business customers, including month by month home loan deferrals.
Customers that have been significantly impacted, regardless of their location or industry, are encouraged to contact the Bank as soon as possible to discuss the various support options available, based on their circumstances and needs.
"We are proud of our deep relationships with our customers, and we understand that no single person or small business has been impacted by the pandemic in the same way. We continue to stand by any customer adversely affected by the unpredictable nature of this pandemic with dedicated support, based on their individual circumstances, as we have done right through this challenging period in history," said Marnie Baker, Managing Director, Bendigo Bank.
"We take our role in supporting customers and communities incredibly seriously and we strongly encourage any customers experiencing hardship, or with concerns, to please contact us so we can assist them," concluded Ms Baker.
Impacted Bendigo Bank customers are advised to speak with their local Branch Manager, Business Banking Manager or contact our Mortgage Help Centre on 1300 652 146 regarding financial hardship and applying for assistance or visit: https://www.bendigobank.com.au/help/coronavirus-assistance-package/