BSB 806 015

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BSB 806 015

COVID-19 frequently asked questions

  • What are my options if I can't make my home loan repayments?

    If due to COVID-19 you are unable to meet your home loan repayments there are several options available to you.

    For eligible customers this includes:

    • accessing your redraw facility;  
    • deferring your home loan repayments if you are in advance in your repayments; 
    • reducing your repayments to the minimum monthly amount if you’re currently paying extra; or 
    • applying for our lending relief package.

    Eligible members who have not previously been on COVID-19 repayment relief can apply for a repayment pause on their home loan for up to 6 months (subject to a final end date of 31 March 2021). Applications for relief will be subject to a credit assessment. Over the six months that the repayments are paused interest will be capitalised. After the payment pause, scheduled payments will be recalculated which means minimum monthly repayments will need to be increased to repay the loan within the original repayment term.

    You can apply online for our lending relief package or contact us on 13 25 77 for further information.

  • I am experiencing financial difficulties with my home loan - how can P&N Bank help?

    We know many of our members are experiencing financial difficulties because of COVID-19. If you're struggling to make repayments, we may be able to help you. If you're unable to meet your home loan repayments, there are several options available to you. These include:

    • accessing your offset or redraw facility, without incurring any fees;
    • reducing your repayments to the minimum monthly amount if you’re currently paying extra; or 
    • applying for our home lending relief package.
  • What is the COVID-19 repayment relief package?

    Eligible members affected by the current COVID-19 situation and who have not previously been on the COVID-19 repayment relief package can apply for the relief package to get some breathing space during this difficult time. This means you can apply for a repayment pause on your home loan for up to six months (subject to a final end date of 31 March 2021). Applications for relief will be subject to a credit assessment.

    Please note that interest will be capitalised during the payment pause. What this means is that after the payment pause, scheduled payments will be recalculated so your minimum monthly repayments will need to be increased to repay the loan within the original repayment term.

    You can apply online for our home lending relief package or contact us on 13 25 77 for further information.

  • How do I apply for financial assistance on my home loan if I have been impacted by COVID-19?

    Members requiring financial assistance on their home loans can apply for our COVID-19 repayment relief package. Please ensure you provide as much information as possible about your current circumstances so that we can assess your application accurately. This will include the submission of details pertaining to your income, expenses, assets and liabilities. We may also require you to supply supporting documents. Applications for relief will be subject to a credit assessment.

  • How long does it take for financial assistance to be approved?

    We are working through the applications as quickly as possible. We do understand this is a very stressful and uncertain time for everyone, and despite the high demand, we will endeavour to provide a response as soon as we can. To support our members we have additional team members from other areas to help with this process - so rest assured we are here for you. 

  • Am I able to make additional repayments during the payment pause period?

    Yes, additional payments can be made. Please note this will not impact your payment pause agreement.

  • If my circumstances improve, can I revert to regular repayments before the end of the approved financial relief period?

    Yes. If your circumstances change for the better prior to the end of your relief period and you can recommence making repayments, you can contact us to update as required.

  • Will applying for the home lending relief package affect my credit rating?

    No, the home lending relief package (payment pause) will not impact your credit rating.

  • I can't get through to the Contact Centre; who can I talk to about my queries relating to COVID-19?

    Please be patient with us as we are currently experiencing high call volumes in our Contact Centre. Our team are working as efficiently as possible to help with your queries. To support increased volumes we have put on staff from some of our branches to help.

  • What other financial assistance is available to me?

    The federal government has announced a number of assistance packages to help individuals and small businesses manage through this difficult time.

    The government’s COVID-19 website is the central source for updates, news and information which we recommend as a great resource to find out what assistance you may be eligible for.

    We’ve also put together a list of links to Australian government and relevant agency information relating to COVID-19, which we will keep updated on our website.

  • Is my local branch still open?

    P&N Bank continues to provide the essential service that our customers need at all of our existing branch locations, our Contact Centre on 13 25 77 and via our digital banking channels.

    For more information and any updates, please visit our branch and service updates page.

  • I don't have an Internet connection or a mobile phone, can I bank remotely?

    Yes. Members can still access services at our branches, and we encourage any member with queries to call our Contact Centre on 13 25 77 so that we can assist.

  • I need to visit a branch - what safety precautions do you have in place?

    Our staff are protected at the counter behind ‘sneeze shields’ – similar to what's going up at pharmacies and supermarkets. In addition, we have strict limitations on the number of visitors we're allowing in the branch at any time and we're adhering to the Federal Government’s social distancing requirements and have markers on the floor for visitors to our branch. 

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