Financial Difficulties

Financial Difficulty and Hardship

What is financial difficulty?

Financial difficulty is more common than you think, we understand life can take an unexpected turn and we are here to help. Financial difficulty can arise from events such as unemployment, illness or a relation breakdown and our dedicated Customer Care team can discuss options that may be available to help you find your feet and get back on track.

How we can help

If you are finding it difficult to make your repayments, depending on your circumstances, the following types of assistance may be available:

• Reduce your repayments for a period of time
• Defer your repayments for a period of time
• Make your normal repayments and get help with missed repayments
• Restructure your loan over a longer term to reduce your repayment amount

Everyone’s situation is different, and we will tailor the assistance to your circumstances and needs.

Are you experiencing hardship due to COVID-19?

We understand this is a difficult and stressful time for many Australians. We have additional options with your loan that may assist during this time, including:

• Accessing money you may have available in redraw
• Changing repayments to interest only payments
• Reducing your repayments to the minimum monthly repayment amount
• Utilising money in an offset account if available 

Click here for information on the COVID-19 early release of superannuation.

What does deferring your repayments involve?

Home loan, personal loan and credit card customers requesting financial assistance may be able to defer their repayments for up to 3 months (up to 6 months for COVID-19 impacted home loan customers), with interest capitalised to the loan.

For the deferral period no repayments are required. However, during this time, interest will add to the loan balance and your loan balance will progressively increase. Your loan term will be extended so your repayments do not increase as a result of the deferral period but may increase for other reasons such as a change in interest rate or accessing redraw.

How to apply for financial hardship assistance

Please complete the online form below, or call the Customer Care Team on 03 9834 8530.

We are currently receiving a large number of calls so if you phone us, you may experience a delay.  If possible, please complete the online form instead of calling. 

Once you have submitted the form we will action your request and contact you within 5 business days. Please do not submit more than one form (unless we request otherwise, by direct communication with you), as it may delay processing your request.