Financial Hardship

If you're facing financial difficulty, we may be able to help.

Financial Hardship Assistance

We are here to help. 

We understand that members may experience financial hardship arising from many causes including COVID-19.  If you are concerned about your financial position we can assist you.  

There are a number of things we can do;

  • Pause your home loan or personal loan repayments for up to 6 months, you can re-start payments if circumstances change during that time.
  • Reduce loan repayments to an amount more manageable, for example, interest only repayments 
  • Increase your loan to provide you with funds to tide you over
  • Re-draw on any accelerated payments you have made 
  • If you are currently paying above the minimum required repayment amount, we can reduce your repayment amount

The Australian Government is also allowing individuals in financial stress due to COVID-19 to access up to $10,000 of their superannuation in 2019-2020 and a further $10,000 in 2020-2021.  You can learn more about this option here.

We encourage members who may be facing difficulties to contact us sooner rather than later.  Making suitable adjustments now may reduce the impact of hardship later.

Yes, please help - what should I do? 

Call us on  1800 855 810. 

We are available Monday - Friday: 8:00am – 6:00pm Saturday: 9.00am - 12.00pm (All times AEST) or email us at service@australianmilitarybank.com.au 
 

 

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