skip to log on skip to main content
VoiceOver users please use the tab key when navigating expanded menus
Find ANZ Contact

Working with you

Here’s how we may be able to help if you’re experiencing financial hardship.

If you’re experiencing unforeseen hardship, we’ll work with you to understand your individual circumstances and the best way for us to help.

COVID-19 (coronavirus) latest updates

With New Zealand at Alert Level 1, we have most ANZ branches resuming operation under normal or reduced hours. If you’re experiencing financial hardship please call us. We’re here to help and are working on other financial support options to help our customers get through COVID-19:

   

Short term loan repayment relief

Depending on your circumstances and the outcome of our assessment, this assistance may be available to you.

Short term loan repayment relief is simply a temporary break from making your loan repayments.

For example, this may apply if you are unable to make your repayments for a temporary period and need temporary assistance with your repayments. Normally, you’ll need to have some certainty that your income will return.

Mary

Mary is planning to take maternity leave and doesn’t have enough savings to cover all her loan repayments while she’s on leave.

We may be able to help Mary with short term loan repayment relief.

 

What happens to my payments at the end of the short term loan repayment relief?

The amount you owe on your loan will increase at the end of your relief period. You’ll need to either increase your scheduled loan repayments or extend your loan term. If you increase your scheduled loan repayments, you’ll keep your loan term the same. We’ll work with you to help understand the best option for you.

Does interest still get charged during any short term loan repayment relief?

Yes. We still charge interest on your loan during the relief period, so the loan amount will increase. We add this interest to the loan amount, and we’ll charge interest on that amount as normal.

How long can I stop payments for?

Depending on your circumstances, short term loan repayment relief may be approved up to a maximum of 90 days. If you are still experiencing financial hardship at the end of the approved period, we’ll work with you to understand how else we may be able to help.

Restructuring your loan

Depending on your circumstances and the outcome of our assessment, this assistance may be available to you.

A loan restructure is when we agree to make a change to your current loan repayments – for example:

  • by increasing your loan term to reduce your regular payments, or
  • by changing to interest only payments for a period.

Restructuring your loan may change how much you need to pay us over the term of the loan. We will work with you to help you understand the best option for you.

John

John’s income reduces as he is unable to work full time for medical reasons.

He can’t meet his current loan payments.

We may be able to help by increasing his loan term to reduce his fortnightly payments.

 

Can I restructure a loan with a fixed interest rate?

Yes, but Early Repayment Recovery may apply - talk to us about your specific situation.

Consolidating your debts

Depending on your circumstances and the outcome of our assessment, this assistance may be available to you.

If you are experiencing financial hardship and have multiple loans and/or credit card debts with ANZ, we may be able to consolidate your debts.

Consolidating debt may change how much you need to pay us over the term of the loan/s. We will work with you to help you understand the best option for you.

Lucy & Mark

Lucy and Mark are struggling to repay their ANZ Home Loan and credit card due to an unexpected reduction in income.

We may be able to consolidate their credit card debt into their home loan, therefore reducing their repayments.

 

Can I consolidate all of my lending, including other lending outside ANZ?

We generally don’t agree to consolidate external lending in a hardship situation, however it depends on your specific circumstances so talk to us – we’ll work with you to find the best solution.

Can I consolidate my debt if my loan is in arrears?

You may be able to – it depends on your specific circumstances. If your loan is in arrears and you would like to make a payment, please contact 0800 731 200 to discuss your situation with us.

Using your insurance

If you are in financial hardship due to redundancy, bankruptcy or severe illness and have an insurance policy that provides cover for this, you may be able to make a claim. You may have taken out this insurance policy when you applied for a personal loan or credit card.

If your insurance is with ANZ or you are unsure whether you took out insurance with your personal loan or credit card, talk to one of our team today on:

  • 0800 658 585 for ANZ Life & Living or Personal Loan Insurance
  • 0800 883 012 for ANZ Credit Card Repayment Insurance

Or view the full contact details for all types of insurance.

If you have an insurance policy with Cigna or another provider, contact them to find out more.

Glen

Glen has been made redundant and thinks he’ll struggle to make his credit card repayments until he finds a new job.

Glen may be able to make a claim under his credit card repayment insurance policy.

KiwiSaver

If you’re suffering financial hardship and have a KiwiSaver account, you can apply to Inland Revenue to stop making KiwiSaver contributions for a period (known as a savings suspension).

Alternatively, if you are suffering significant financial hardship and have exhausted all other reasonable alternative sources of funds, you can apply for an early withdrawal.

Savings suspension

You can apply to Inland Revenue to take a break from making contributions:

  • if 12 months or more have passed since; your first KiwiSaver contribution was paid to a KiwiSaver manager or Inland Revenue or you joined a complying superannuation fund,
  • any time after your first contribution if you are in, or are likely to be in, financial hardship.

A savings suspension can be for between three months and 12 months, unless Inland Revenue agrees to a longer period. You can take an unlimited number of saving suspensions, but this will affect how quickly the savings in your KiwiSaver account grow.

Visit the Government’s KiwiSaver site to find out more about KiwiSaver saving suspensions.

Early withdrawal

You can apply for an early withdrawal if you’re suffering significant financial hardship – for example if you’re unable to meet essential living and/or medical costs.

You’ll need to show that you’ve exhausted all reasonable alternative sources of funds, and if your application is granted the amount you withdraw can be limited to a specific amount to meet your hardship requirements.

If you have a KiwiSaver account managed by ANZ Investments, check our guide for more information on eligibility criteria and next steps. If you think you’re eligible to apply for a withdrawal, you can complete our KiwiSaver Significant Financial Hardship Application Form.

For help, simply contact our KiwiSaver team

Do I need to apply for hardship assistance before applying for an early withdrawal from KiwiSaver?

Yes. Your KiwiSaver manager will check to see that you have taken all reasonable steps to alleviate your current financial hardship, including refinancing or consolidating your existing debt, making payment arrangements, having a financial review with your bank, and seeking budget advice from a budget adviser.

We're here to help

How to apply

Contact our team

Call us

0800 240 438

Weekdays, 8.30am - 8pm
Weekends, 9am - 5pm

   

Find your nearest ANZ branch

Visit a branch

 

For more information

Help and support 

See all help and support articles