Broker information regarding COVID-19
Relief assistance package
- 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.
- 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
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.
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.