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Support for clients impacted by
COVID-19

Our absolute priority is ensuring we take every step to look after our clients during these uncertain times - we are ready and available to assist you.  

With the impacts of COVID-19 restrictions continuing to cause strain on individuals and small businesses, further support measures have been put in place to assist our clients and their businesses.
 

On application, the support includes:

  • Eligible small business clients will be able to defer repayments for up to 3 months, with loan terms extended accordingly 1
  • Eligible clients will be able to receive refunds of merchant terminal rental fees for up to 3 months 
  • Eligible clients will have early access to Term Deposit funds and a waiver of redemption fee for up to 3 months 
  • Specialised targeted support for larger business clients
  • Both individual and business home loan clients will have access to a range of support measures, including deferrals for up to 3 months  
     

The new support measures are in addition to the current range of COVID-19 financial support available, which include:

  • The ability to defer mortgage and/or loan repayments for a short period;
  • The option to make Interest Only repayments for a short period;
  • Special arrangements in relation to arrears;
  • Early access to Term Deposit or Notice Account deposit funds with waiver of redemption fee; and
  •  Waiver of other fees and charges related to non-payment.


To support small and medium businesses impacted by a lockdown, eligible existing business clients will have access to a low interest rate business loan of up to $5 million through the Federal Government’s SME recovery loan scheme.

For new and existing business clients who wish to take advantage of heavily discounted rates, BOQ Group is offering fixed rates from 2.39% for two years, to continue supporting the growth of the economy2.

If you are experiencing financial hardship as a result of the Novel Coronavirus, please contact your dedicated financial specialist directly or call 1800 950 399 (option 2). We are ready to respond to general hardship enquiries, as well as more complicated restructures.
   


 

We are here to help, now more than ever

Here are a few ways we will continue to help you manage both your personal and practice finances.

Fee waivers

We are providing additional flexibility for businesses by automatically waiving the monthly account keeping fee on our One Account for Business for six months. Merchant terminal fees can also be waived for three months upon request. 

READ MORE

Unsecured business loan

The Federal Government has announced Phase Two of the SME Guarantee Scheme to provide SMEs with access to a range of funding to help them to adapt to their new operating environment, support their current or upcoming cash flow needs, or invest in their business for the future.

READ MORE

COVID19 health updates

  • Important Information

      Any information is of a general nature only. We have not taken into account your objectives, financial situation, or needs when preparing it. Before acting on this information you should consider if it is appropriate for your situation. BOQ Specialist is not offering financial, tax or legal advice. You should obtain independent financial, tax and legal advice as appropriate.

      The issuer and credit provider of these products and services is BOQ Specialist. Terms and conditions, fees and charges and lending and eligibility criteria apply. You should obtain and consider the product terms and conditions before making any decision about whether to acquire the products. We reserve the right to cease offering these products at any time without notice.

      1 Business lending less than $3m and a turnover of less than $5m, and only for loans in good standing with payments up to date or engaged in a payment program.

      Available for a limited time for new residential secured lending with a minimum loan amount of $200,000 and a maximum of $3 million, and a Loan-to-Value ratio up to 80%. The fixed rate discount will apply until the end of your fixed term or until you request us to vary the loan. Fixed rate discount is not available to self-managed super funds, or on refinance of, or an increase to, existing BOQ facilities.