This is how we’re supporting eligible business customers:
- 0.50% p.a. reduction in the secured Overdraft interest rate for new and existing customers effective from 1 April 2020
- 2.00% p.a. reduction in our unsecured Overdraft rate for new and existing customers effective from 1 April 2020
- 1.00% p.a. reduction in current business investment loan variable reference rate for new and existing customers to 3.94% p.a.* effective from 1 April 2020
- Special fixed rates for 1 – 3 years for new and existing business customers. 1 year 3.94% p.a*., 2 year 3.94% p.a.*, 3 year 3.94% p.a.*
- Restructuring options to support business customers to help manage cashflow including:
- Deferring loan repayments for 6 months. Interest will be capitalised to the loan amount. Loan term to be extended by 6 months
- Waiving fees for the restructuring or consolidation of loans
- Waiving interest rate reductions/penalties for early withdrawal of terms deposits prior to maturity
- Supporting the working capital needs of our customers.
Please note that the support outlined above is only applicable for existing members.
*A margin may be added to the rates indicated above to determine the actual interest rate charges.