Bendigo and Adelaide Bank expands COVID-19 support package

by Gerv Tacadena12 Jul 2021

Bendigo and Adelaide Bank has unveiled additional support package for its small business and mortgage customers who are affected by the recent COVID-19 restrictions across the country.

The new support package includes the three-month payment deferral and an extension of loan terms for small businesses. Customers who are applying for this must be up to date in their repayments or have a repayment program arrangement in place. Those with asset finance or overdraft products will be assessed on their personal circumstances.

Also part of the package are refunds of merchant terminal fees for up to three months, waiver of fees and notice periods on cash deposit for up to three months, and specialised targeted support for larger business customers.

A range of support measures are also available for home loan customers, including a month-by-month repayment deferral.

The package is an extension of the bank's existing hardship support measures that are already available for customers affected by the pandemic.

"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 for Bendigo and Adelaide Bank.

Baker encourages affected customers to reach out to the bank to discuss the various support options available.

“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,” she said.

Customers are advised to speak with their local branch manager or contact the bank's Mortgage Help Centre on 1300 652 146 (Bendigo Bank) or 1300 650 259 (Adelaide Bank).