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Personal banking support and updates

Information to help you stay on top of your banking. Plus relevant updates about products and services impacted by coronavirus (COVID-19).

Financial support options

We recommend you check what financial support is available from the Government. They may be able to help with essential living costs, and urgent or unexpected costs, if you’ve lost your job, your hours have been reduced or you can’t work at the moment.

The Government also has a wage subsidy scheme available for all employers that are significantly impacted by COVID-19 and are struggling to retain employees as a result. Talk to your employer if you think this might be relevant for your situation.

Find out more on the Government’s website, Unite Against COVID-19, or call the free helpline on 0800 779 997 (8am–1am, 7 days a week).

Your financial wellbeing is important to us and we’re here to help. We have a range of financial support options for customers impacted by COVID-19.

Find out more below

With the support options available from the Government, and solutions we may be able to offer, you might be able to find some financial relief before you get to the point of significant financial hardship.

However, if you’re already experiencing significant financial hardship, please see our website for how we may be able to help you through. We have an online hardship application form, but we recommend you call us first on 0800 240 438 (weekdays 8.30am-8pm, weekends 9am-5pm).

How we may be able to help

Home loans

If you need to relieve financial pressure due to COVID-19, below are some ways we may be able to help.

These options are available for personal and business customers with ANZ Home Loans. If you need to discuss your home loan options, please call us on 0800 269 296.

ANZ Home Loan must be secured by mortgage over a residential property. Lending criteria, terms and conditions, and fees apply. The information, offers, and interest rates below are current as at 30 March 2020 but may change without warning.

 

Talk to us if you need to reduce your repayments. We may be able to suggest ways to restructure your lending to reduce your repayment amount. For example, extending your loan term or switching to interest only repayments. We’ll talk through your options and what these may mean for your loan over the longer term.

We do not charge a fee to restructure loans. However, Early Repayment Recovery may be charged if you ask to change your loan to a lower fixed rate, or want to increase your repayments, before the current fixed rate period ends.

Eligible personal and business customers with an ANZ Home Loan may be able to apply for a home loan repayment deferral.

If you’re financially impacted by COVID-19, you can apply for a home loan repayment deferral – sometimes known as a “mortgage repayment holiday”. A home loan repayment deferral allows you to pause your scheduled repayments for up to 6 months.

Although you won’t have to make your scheduled repayments, it’s important to know that the amount you owe on your loan will increase during your deferral period. We’ll still charge interest on what you owe, which will be added to your outstanding balance. You’ll then be charged interest on your outstanding balance as normal.

Because you’ll end up paying more on your loan over the longer term, we recommend you carefully consider whether it’s the best option for you.

If reducing your repayment amount would provide enough relief, there may be a more suitable option. When you apply, we can talk through your options and discuss what they may mean for your loan over the longer term.

FAQs

 

Example of a home loan repayment deferral

Karen and John take a home loan repayment deferral for 6 months.

They have a home loan of $250,000 with an interest rate of 3.50% p.a. and a 25 year term. They currently pay $1,246 a month in repayments.

If interest rates stay the same, the interest they’ll be charged over the six month loan repayment deferral is $4,493.

At the end of the loan repayment deferral, if Karen and John:

  • keep their loan term the same, their repayments will increase to $1,284.10 a month
  • keep their repayments the same, their loan term will extend by 15 months.

If you need some extra funds to help get you through this period, you may be able to apply to top-up your existing personal and/or business home loan.

We’ll waive home loan application or top-up application fees, if you ask when you apply. Available until further notice.

We’ve passed on the full 0.75% p.a. Official Cash Rate drop to all ANZ Home Loans with floating rates and ANZ Flexible Home Loans. This means customers with existing ANZ Home Loans with floating rates and existing ANZ Flexible Home Loans will have a lower interest rate from 2 April 2020. Find out more.

We’ve also significantly reduced selected interest rates for new fixed rate periods on ANZ Home Loans. View our current rates.

KiwiSaver

Here you’ll find additional information to help you keep on top of your KiwiSaver savings during this time.

ANZ New Zealand Investments Limited is the issuer and manager of the ANZ KiwiSaver Scheme, the ANZ Default KiwiSaver Scheme and the OneAnswer KiwiSaver Scheme.

  

We've put together some helpful tips and answers to commonly asked questions, including how your KiwiSaver account may have been impacted by COVID-19 and what you can do to make the most of your KiwiSaver savings. 

See FAQS

COVID-19 has had a significant impact on financial markets over the past few months. You can keep up-to-date with the latest market movements.

Read News and Views

 

Travel insurance

ANZ Travel Protector and ANZ Premium Card Overseas Travel Insurance policies are managed by our insurance partner, Allianz Partners. If you have any questions about your existing insurance cover at this time, please contact Allianz Partners:

To make a claim, you can use the online Claims Portal.

Life insurance update

Below are some updates and information to help you manage your insurance during this time.

Cigna life insurance products don’t contain exclusions for pandemics which means that COVID-19 does not impact the way your existing insurance cover works. If you need to make a claim related to COVID-19, as with any other claim, you’ll simply need to meet the eligibility requirements for your type of cover.

This means if you have:

  • Life Cover
  • Trauma/Critical Illness Cover
  • Total Temporary Disability/Living Expenses Cover, or
  • Redundancy Cover

There are no pandemic exclusions and contracting COVID-19 is not excluded as a cause of claim for death or illness. To claim on Redundancy Cover you are required to be made redundant. Standard terms and conditions will apply.

This applies to all existing and recently commenced policies.

If you want to apply for a new ANZ Life & Living Insurance policy, please consider the following:

  • If you’re identified as being at a higher risk of complications from COVID-19 (e.g. elderly, or those with pre-existing cardiovascular risk factors, respiratory illness or immune system compromise) Cigna is considering the risk for each application on an individual basis.
  • Cigna is currently not accepting new applications for Redundancy Cover.

To make a claim, call Cigna on 0800 658 585 or email claimsnz@cigna.com

At times, the Contact Centre may be experiencing higher than normal call volumes, so we appreciate your patience.

If you’re experiencing financial hardship as a result of COVID-19 and you’re concerned about paying your premiums, Cigna may be able to help. Call Cigna on 0800 658 585 to discuss options.

AIA’s insurance products don’t contain exclusions for pandemics which means that COVID-19 has no impact on your existing insurance cover with AIA. If you need to make a claim related to COVID-19, as with any other claim, you will need to meet the eligibility requirements for your cover.

To find out more or to make a claim, please go to aia.co.nz, call AIA on 0800 500 108 or email enquirenz@aia.com

House, Contents and Motor Insurance  

Below are some updates and information to help you manage your insurance during this time.

Our insurance partners, Vero and Tower, continue to process claims at this time. However, note that non-emergency repairs on your property or vehicle will need wait until restrictions ease.

If you have a claim, please contact our insurance partners using the contact details below:

Vero insurance policies

If your insurance policy is underwritten by Vero you can use the Claims Portal to lodge your claim online. You’ll need your policy information as it appears on your policy schedule (you could find a copy in the Documents section of your ANZ Internet Banking)

Call Vero on 0800 269 252 (Intl: +64 9 363 4192) or email  anznewclaims@vero.co.nz

Tower insurance policies

If your insurance policy is underwritten by Tower call Tower on 0800 100 660 (International: +64 9 369 2000) or email claims@tower.co.nz

 

 

If you’re experiencing financial hardship as a result of COVID-19 and you’re concerned about paying your premiums, ANZ’s insurance partners may be able to provide help. Please contact Vero or Tower directly:

Credit cards

We’re reducing all personal credit card interest rates. Find out more below.

We’ve also made changes to our business credit cards. Find out more

Lending criteria, terms and conditions, and fees apply. The information, offers, and interest rates below are current as at 30 March 2020 but may change without warning.

To help relieve financial pressure through the Coronavirus (COVID-19) pandemic, a special rate of 9.95% p.a. will apply to the ANZ Low Rate Visa between 1 April 2020 and 30 September 2020. After 30 September, the standard purchase and cash advance interest rates will apply (currently 12.90% p.a. on purchases and 19.95% p.a. on cash advances).

For all other personal credit card types, the interest rate on purchases and cash advances will reduce from 20.95% p.a. to 19.95% p.a. from 1 April 2020. However, if you’re paying interest on these cards, you may want to consider whether ANZ Low Rate Visa may be right for you – it has a lower interest rate on purchases and no annual fee. You can use our Compare credit cards tool to help you decide on your best option.

Overdrafts

From 1 April 2020 we’re reducing the interest rates on personal overdrafts. We are also waiving some fees for a limited time. Find out more below.

If you need to discuss your existing overdraft, or apply for a new overdraft, please call us on 0800 269 296.

Lending criteria, terms and conditions, and fees apply. The information, offers, and interest rates below are current as at 30 March 2020 but may change without warning.

The Consumer Overdraft Base Rate will drop from 13.95% p.a. to 12.90% p.a., meaning the total interest rate on personal overdrafts will reduce. The total interest rate only applies to the agreed overdraft limit you use.

The total interest rate on personal overdrafts is made up of the Consumer Overdraft Base Rate plus a margin of 6% p.a. This means the total interest rate on personal overdrafts reduces from 19.95% p.a. to 18.90% p.a. Your total interest rate may be even lower than this if you’re registered for a banking package or have a Jumpstart account.  

The excess (unarranged) interest rate for personal overdrafts will reduce from 28.95% p.a. to 27.90% p.a. The excess interest rate is made up of the new Consumer Overdraft Base Rate of 12.90% p.a. plus a margin of 15%. We can charge you excess interest on any amounts over your arranged overdraft limit, or any overdrawn amounts if you don’t have an arranged overdraft, until you repay them.  

Additionally, from 27 March 2020, if you need to apply for a new personal overdraft, or to increase your overdraft limit, we’ll waive the application fee if you ask us when you apply. Available until further notice. 

If you’re applying for a temporary personal overdraft, we’ll also waive the overdraft management fee for up to 3 months if you ask us when you apply. Available until further notice. 

Personal loans

Here are some personal loan relief options that could help you through COVID-19.

If you need to discuss your existing personal loan, please call us on 0800 296 296.

Lending criteria, terms and conditions, and fees apply. The information, offers, and interest rates below are current as at 30 March 2020 but may change without warning.

Talk to us if you need to reduce your repayments. We may be able to extend your personal loan term to reduce your repayment amount. We’ll talk through your options and what these may mean for your loan over the longer term.

If you’re financially impacted by COVID-19, you can apply for a personal and/or business loan repayment deferral. A personal loan repayment deferral allows you to pause your scheduled repayments for up to 6 months.

Although you won’t have to make your scheduled repayments, it’s important to know that the amount you owe on your loan will increase during your deferral period. We’ll still charge interest on what you owe, which will be added to your outstanding balance. You’ll then be charged interest on your outstanding balance as normal.

Because you’ll end up paying more on your personal loan over the longer term, we recommend you carefully consider whether it’s the best option for you.

If reducing your repayment amount would provide enough relief, we may be able to extend your personal loan term instead. When you apply, we can talk through your options and discuss what they may mean for your loan over the longer term.

FAQs

 

Example of a personal loan repayment deferral

Nora takes out a personal loan repayment deferral for 2 months.

Nora has a personal loan of $10,000 with an interest rate of 13.90% p.a. and a 3 year term. She currently pays $331 a month in repayments.

If interest rates stay the same, the interest she’ll be charged over the two month loan repayment deferral is $233.97.

At the end of the loan repayment deferral, if Nora:

  • keeps her loan term the same, her repayments will increase to $353.80 a month
  • keeps her repayments the same, her loan term will extend by 3 months.

If you need some extra funds to help you through this period, you may be able to apply for a new personal loan, or top up an existing one. We’ve reduced our standard interest rate to 12.90% p.a. for new personal loans and personal loan top ups, effective from 1 April 2020. We’re also waiving the application fee until further notice.

Term deposits

We understand that you may need to access the funds in your term deposits during this time. You can continue to access your money just as you do now, and we’re also making it a little easier.

The information and offers below are current as at 6 April 2020 but may change without warning.

If you’re financially impacted by COVID-19, you can request an early withdrawal of some or all of your term deposit funds under our term deposit hardship policy. From 26 March 2020 until further notice, if you’re approved for an early withdrawal, we’ll also waive any interest rate reduction on the amount withdrawn. Please call us on 0800 269 296 to discuss your options.

Hardship criteria and terms apply – you can find these in our ANZ General Terms and Conditions

Ways to bank from home

If you are not using online or phone banking we strongly encourage you to do so.

We have a range of options including the ANZ goMoney app, Internet Banking and 24/7 Automated Phone Banking. Plus you can withdraw and deposit money using our ANZ Smart ATMs. 

Find out more

Contacting us

Self-service options

The ANZ goMoney app, Internet Banking, 24/7 Automated Phone Banking, and ATMs are all available to help you do your regular banking. Using these services means our Contact Centre can focus on helping those immediately impacted by COVID-19.

Call us

You can still call us if you cannot bank another way, or if you require urgent financial support.

0800 269 296

6am to midnight

7 days a week

Other helpful information

Healthline

0800 358 5453

If you have symptoms of coronavirus, call the NZ Covid-19 Healthline

Ministry of Health website

www.health.govt.nz

Information, official guidelines and updates

Unite against COVID-19 website

www.covid19.govt.nz

Latest updates from the NZ government

ANZ lending criteria, terms, conditions, and fees apply. Interest rates and fees are subject to change.  

A copy of the Bank's General Disclosure Statement  under the Reserve Bank of New Zealand Act 1989 is available on this website or on request from any ANZ branch, free of charge.

This material is for information purposes only. Its content is intended to be of a general nature, does not take into account your financial situation or goals, and is not a personalised financial adviser service under the Financial Advisers Act 2008. It is recommended you seek advice from a financial adviser which takes into account your individual circumstances before you acquire a financial product. An ANZ Authorised Financial Adviser will, on request and free of charge, provide you with his or her disclosure statement prepared under the Financial Advisers Act 2008. If you wish to consult one of ANZ's financial advisers, please contact us on 0800 269 296.