Adelaide Bank - COVID 19 Support
The following financial assistance package is available for affected Adelaide Bank customers nationwide:
- Customers can apply for relief for up to six months on home loans, business loans, line of credit and credit cards.
- Waiver of interest rate reduction for early withdrawals on term deposits prior to maturity.
Trail will continue to be paid for loans where customers have taken up the option of a deferral of repayments for up to six months.
27 August 2020
COVID-19: Payment Arrangements Customer Contacts
Payment deferrals requested by customers affected by the economic challenges associated with COVID-19 will soon be expiring. To assist with this transition, we have contacted these customers via email with some options on how they wish to adjust their loan to ensure interest capitalised during the deferral payment is repaid.
Customers will contacted and be provided with the following options:
Resume Payments (same loan term)
Resume Payments (extended loan term)
Explore other options.
We will confirm all new loan details for customers in a letter once an option has been selected. If no response is received from the customer within 3 business days of the communication being received, we will attempt to contact the customer by phone and unless instructed otherwise, they will be placed on the 'resume payments (same loan term)' option. If ‘Explore other options’ is selected customers will be contacted by us to discuss available support.
To assist customers in considering their options, we have developed a calculator and other helpful tools, which can be located here.
If you have customers experiencing financial difficulties and wishing to apply for assistance, please advise them to contact our Mortgage Help Centre on 1300 650 259.