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Broker information regarding COVID-19

Relief assistance package

Suncorp has introduced a relief assistance package in recognition of the impact the COVID-19 (coronavirus) is having on individuals, communities and businesses. We are dedicated to supporting our customers through these uncertain times. Suncorp Bank’s financial assistance packages are available to eligible personal and business customers in affected communities and sectors who may need additional financial support.
 
Personal customers
 
Suncorp Bank has committed to supporting personal customers experiencing financial difficulties as a result of COVID-19.
 
To assist our customers during this time, our COVID-19 information page now includes additional information about how to manage their loans or request assistance. This includes a new COVID-19 Assistance Online Request Form to provide customers with a quick digital alternative for seeking assistance.
 
The following support will be available to home and personal loan customers impacted by COVID-19:
  • NEW Repayment Pause - A deferral of repayments for all home or personal loans, for a period of up to six months.
  • Move to Interest Only - Conversion from Principal and Interest repayment structure to Interest Only for a period of time.
  • Cashback - Customers who have made additional repayments on their variable home loans are able to access cashback to assist them with expenses
  • Modify Repayments - Customers that have made additional repayments on their home or personal loan and are ‘in advance’ and are able to reduce or suspend their repayments.
Small Business customers
 
Suncorp has committed to an industry wide relief package to support small business customers experiencing financial difficulties as a result of COVID-19. The package is designed to help SMEs remain viable, continue to contribute to the Australian economy and be well placed on the other side of this event.
 
Suncorp are offering the following support for eligible small business customers:
  • Up to six-month deferral of principal and interest or interest only repayments (interest will be capitalised, and the term of your loan will be extended)
  • Change from principal and interest repayments to interest only repayments for up to 12 months (the term of your loan will be extended)
  • Six-month deferral of instalments on equipment finance facilities (your term of your chattel mortgage or lease will be extended and on chattel mortgages your interest will be capitalised)
  • Waiving merchant rental and minimum monthly fee up to 6 months
For more information, personal and business customers should refer to the Suncorp COVID-19 website or call 13 11 55.

Suncorp reduces rates and removes fees to support small businesses and households

Suncorp Bank has strengthened its support for small business and personal customers as communities and industries across the country respond to the challenges of COVID-19. 

Click here for details of the support we're offering small business and households.

The new lending rates will come into effect from 3 April 2020.

Suncorp stands with small business customers

Suncorp Bank, along with other Australian banks, has committed to an industry-wide relief package to support small business customers experiencing financial difficulties as a result of COVID-19. Read more here.

 

For more COVID-19 customer information, please refer to the Suncorp site here.