VoiceOver users please use the tab key when navigating expanded menus

Elliott: we’ll help you through this

ANZ CEO Shayne Elliott has sent a letter to ANZ customers to provide an update on how the bank is responding to the COVID-19 pandemic and supporting customers.


Below is an unedited copy of that letter.

I’m writing to ensure you have the latest information on ANZ’s response to COVID-19 and understand what this means for you and your banking.


I want to reassure you that we’re here to help. We’ve announced a range of new support measures to help our small business and home loan customers in Australia who have been affected by the financial impacts of COVID-19, and we're working hard to stay open for business while prioritising the health of our people.


For the most up to date information, including full details about these new support measures and how you can apply, please visit anz.com/covid-19.

If you’re a small business customer:

  • You can request a six-month payment deferral on loan repayments for term loans and asset finance, with interest capitalised1;
  • You can request temporary increases in overdraft facilities for 12 months;
  • We’ve decreased variable interest small business loan rates in Australia by 0.25% p.a., effective 27 March 2020. This represents an overall decrease of 0.5% p.a. since 13 March 2020.


If you’re a home loan customer:

  • If you’re ahead on your repayments, you can access your redraw balance. Other options that might be available to you include making repayments using funds in your linked offset account or other deposits you have available to make loan repayments;
  • If you don’t have a redraw balance available, you can request to defer home loan repayments for up to six months, with interest capitalised1;
  • We’ve decreased the standard Variable Home Loan rate by 0.15% p.a. effective 27 March 2020.


We have also introduced our lowest fixed-rate home loan on record (two-year fixed rate of 2.19% p.a. for owner occupiers paying principal and interest on the ANZ Breakfree package, effective 23 March 2020). If you currently have a standard variable home loan, you may want to consider switching to this historically low rate2.


We understand you may have questions and we are working hard to help our customers as fast as we can, particularly those who are most vulnerable. As our contact centre is experiencing a high number of calls, the fastest way to apply for COVID-19 assistance is through anz.com/covid-19 and one of our team members will get back to you as soon as they can.


We know that many customers are limiting their time away from home and may be unable to visit our branches. Remember you can use the ANZ App and Internet Banking to check your balance, make payments, pay bills and much more. To find out more, visit anz.com.au/ways-to-bank/.


My primary focus is now COVID-19 and ensuring we are doing everything possible to support our customers through this. On behalf of the team at ANZ, thank you for your patience and please, take care of yourselves and your loved ones.


Kind regards,


Shayne Elliott - Chief Executive Officer, ANZ


1. Interest capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loan balance increases when payments are postponed during periods of deferment or forbearance and unpaid interest is capitalised.


2. If you currently have a fixed rate loan (instead of a variable rate loan) and you switch to another fixed rate loan before the end of your current fixed term, you may have to pay an early repayment cost (which can be large and vary in size from day to day). 

Related articles

ANZ pledges $1.5m to community partners supporting Australia’s most vulnerable

ANZ today announced it will donate $1.5m for three of its charity partners to provide additional support to some of the country’s most disadvantaged.

Elliott: ANZ prepared for crisis, essential banking a priority

ANZ CEO says bank is in good shape to support customers and staff through the pandemic with long term shareholder interests in mind.