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Financial relief and help.

Please visit our COVID-19 Customer Support Package. These measures reflect our ongoing commitment to support all customers through these challenging times.

Conducting my banking.

With Internet and Mobile Banking, you can securely access your banking from your own home, via your computer or mobile phone.  

Internet Banking allows you to do everyday things like pay someone, see your account balance, transfer money between accounts and pay bills. When banking online, Bank of Melbourne guarantees your Internet and Phone Banking security with BankSA Secure13.  

Find out more information on how to bank with us Online and on Mobile here

Travel, trip cancellation and travel insurance.

To find out whether your travel insurance14 covers COVID-19 claims, we encourage you to do so online at FAQs for Travel Insurance COVID-19.

To make a claim under the Complimentary Overseas Travel Insurance available with some eligible BankSA credit cards please visit:

To make a claim under purchased Travel Insurance policies:

Bank Accounts.

If you need to break your Term Deposit early, please call us on 13 13 76 between 8am-8pm, Monday to Saturday. Please note, unless you are experiencing financial hardship, a 31 days’ notice period, usually applies to break a Term Deposit early.

If you are experiencing hardship as a result of COVID-19, please fill out our Financial Hardship form, and we will contact you as soon as possible.

Mortgages.

Help is available for our existing home loan customers.

Repayment relief for home loan customers:

BankSA customers who have lost their job or suffered loss of income as a result of COVID-19 can apply to defer their home loan repayments.

Landlord insurance.

Yes, if you have Optional Landlord Extras cover on your policy and have negotiated a reduced rent amount with your tenant, as they have been financially impacted by COVID-19, you may be eligible to claim on the difference between the original and new rent amounts.

For example, if your original rent agreement was $500 per week and you have negotiated a new rent agreement for $350 per week, you may be able to claim for the $150 per week difference.

All claims will be subject to existing policy limits – up to $1,000 a week for a maximum of 10 weeks.

You will need to provide evidence, such as:

  • Copy of the new rental agreement
  • Documentation the tenant provided to show the impact of COVID-19 on their financial position

Superannuation.

Global share markets have experienced significant volatility since late February 2020 as investors try to assess the impact of the COVID-19 pandemic.

BT, part of Westpac Group has provided answers to common questions about market volatility and COVID-19:

  • What does it mean for my super?
  • What does it mean for investments in my superfund?
  • What should I do?

For responses to these questions, please see BT's superannuation update.

Life Insurance & Income Protection.

BT, part of Westpac Group has provided answers to common questions that customers may have about life insurance and insurance policies:

  • Does BT’s life insurance policy cover me for COVID-19?
  • Does BT’s income protection policy cover me if I need to self-isolate?
  • Does BT’s income protection policy cover me if my business shuts down due to COVID-19?
  • Does BT’s income protection policy cover me if I’m told I cannot go to work due to a shutdown as a result of COVID-19?
  • Can I increase my level of insurance cover or apply for a new policy?
  • I have tested positive for COVID-19 and I need to make a claim
  • Will there be any changes to the way in which you manage claims considering the pandemic?
  • How is BT responding to COVID19 impacts?
  • What happens if BT’s offices are shut down?
  • What if I’m facing hardship and struggling to pay my premium?

For responses to these questions, please read BT's Life Insurance and COVID FAQs.

Other matters.

We're here to support you on your financial journey. That's why we offer you access to our financial resource centre, the Davidson Institute16. Here individuals, businesses, and community organisations, can access financial education on a range of money management topics to better understand their options and improve their financial decision-making skills.

There are resources in a range of learning formats, so you can learn about the topics that interest you, whether it is budgeting, planning for your future or business cash flow management.

The Davidson Institute is available to anyone who wants to improve their financial literacy and financial confidence.

Visit the Davidson Institute.

The Detail

1. Interest deferred will be capitalised and fees will continue to be debited to the account

2. The comparison rate is based on a 2-year fixed rate loan of $150,000 over a term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

3. This rate is available for loans submitted from 27 March 2020 and may be varied or withdrawn at any time. The interest rate is inclusive of the current 0.15% p.a. Advantage Package discount for the fixed rate period under the Advantage Package. The Bank will apply the fixed rate that is available at the loan settlement date or the date the fixed rate period commences. At the end of the fixed rate period the interest rate will convert to the applicable variable rate. Advantage Package Terms and Conditions apply.

4. Advantage Package: Conditions of Use and $395 annual package fee applies and is payable from an eligible BankSA transaction account. Read the Terms and Conditions, Advantage Package - Terms and Conditions (PDF 822KB) (PDF 338KB), and consider whether the product is right for you. Tax consequences may arise from this promotion for investors and customers should seek independent advice on any taxation matters.

5. Redraw fees may apply, for more details please visit www.banksa.com.au/personal/home-loans/manage/redraw

6. Interest deferred will be capitalised. Terms and Conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral payment period and will include finance charges.

7. Please note that customers with an overdraft facility should utilise their available balance in the first instance and speak to their Relationship Manager if further assistance is required. Customers with cashflow/invoice/trade finance and commercial bills facilities requiring assistance with these facilities should also refer to their Relationship Manager.

8. For business credit cards interest on outstanding purchase and cash balances, including those made during the deferred repayment period, will be calculated and accrued daily at a reduced rate of 9.46% per annum. Interest will be capitalised to the account monthly unless the closing monthly statement balance is paid in full. Standard fees otherwise continue to apply and will be charged to the credit card account. You will not be required to make any repayments during the deferred repayment period, however, the removal of the minimum monthly repayment does not prevent you from paying down your balance at any point in time, and we encourage you to do so to minimise interest costs where possible.

9. Interest deferred will be capitalised. Terms and Conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral payment period and will include finance charges.

10. Interest deferred will be capitalised. Terms and Conditions and eligibility criteria apply. For Equipment Finance facilities and loans only, instalments will be deferred and finance charges will still apply over the deferred period. Instalments will be recalculated at the end of the deferral payment period and will include finance charges.

11. Terms and Conditions and Eligibility Criteria apply.

12. Interest deferred will be capitalised and fees will continue to be debited to the account

13. If your Bank of Melbourne account is compromised as a result of internet fraud, we guarantee to repay any missing funds, provided you comply with our Internet and Mobile Banking Terms and Conditions (PDF 265KB) effective as at 20 September 2019. Please refer to the Internet Banking Terms and Conditions before registering for Internet Banking.

14. Travel Insurance is issued by AGA Assistance Australia Pty Ltd ABN 52 097 227 177 (trading as Allianz Global Assistance), as agent for the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 (Allianz). This includes Bank of Melbourne Complimentary Travel Insurance (PDF 1MB) that is included with your eligible Bank of Melbourne credit card.

15. Subject to eligibility criteria. Deferred interest may be capitalised. This means that your repayments may increase for the remainder of your loan term.

16. The Davidson Institute offers a range of money management topics for individuals, businesses and community organisations to help them build their financial confidence. For more information visit www.davidsoninstitute.edu.au. This information does not take your personal objectives, circumstances or needs into account. Consider its appropriateness to these factors before acting on it.

For BankSA Travel Insurance: Travel insurance is arranged by BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL This insurance is issued by AGA Assistance Australia Pty Ltd ABN 52 097 227 177 (trading as Allianz Global Assistance), as agent for the insurer, Allianz Australia Insurance Limited ABN 15 000 122 850 (Allianz). Terms, conditions, limits, and exclusions apply.  This information is general only and does not take your personal objectives, circumstances or needs into account. Before making a decision please consider the Product Disclosure Statement ('PDS') for Travel Insurance (PDF 800KB) (PDF 800KB)

For Home loans: Credit criteria, fees and charges apply. Based on Bank of Melbourne credit criteria, residential lending is not available for Non-Australian resident borrowers.

For Deposit Products: Deposit products like term deposits and Complete Freedom accounts are issued by BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714. You should read the terms and conditions, available on our website, before deciding whether to acquire, continue to hold or dispose of interests in them.

BankSA - A Division of Westpac Banking Corporation ABN 33 007 457 141 AFSL and Australian credit licence 233714.