Financial Assistance

If the unexpected happens and you have missed a repayment or you’re unable to meet your repayments, please get in touch with us. We're here to help with guidance, advice and support.

If you find that you are unable to make your repayments due to an unforeseen circumstance you may be eligible to receive Financial Hardship assistance.

What is Financial Hardship?

We understand that life can take unexpected turns and you may experience difficulties in coping with financial commitments. If you're finding your loan or credit card repayments are challenging to make, we may be able to offer assistance when you need it most.

How can I access support?

Financial hardship is more common than you might think. No matter what your circumstance is, if you're finding things tough, please reach out to us. We are here to help.


What are some causes of hardship?

Financial difficulty can come about in many forms and affects people and businesses differently. Common events contributing to financial hardship may include:

  • Illness or injury
  • Unemployment
  • Reduction of income
  • The loss of a loved one
  • Domestic or family violence
  • Financial abuse
  • Natural disaster
  • Relationship breakdown
  • A downturn in your business.

If you have questions about whether applying for assistance is the right step for you, get in touch with us on 132 067 (Mon-Fri 8am to 6pm, Sat 8.30am to 12pm)


How can we help

We have a specialised team available to help you if you're finding things tough financially. We'll look at how we can best support you now and what options are available to help improve your situation.

Our priority is to help you get up to date with your payments and back on track. Contact us so we can discuss options to help you through this period.

Depending on the nature of your financial difficultly, some possible solutions may be:

  • Utilise any advance payment on your loans
  • Convert repayments to an interest only structure for a period of time
  • Reduced repayments for a period of time
  • Extension of your loan term
  • Debt restructure
  • Debt refinance

It is important to remember that if we agree to temporarily reduce your repayments over the short term, you will still be required to make up the difference in the future.

Indian businesswoman seeking consultation business office meeting

Next Steps

Regional Australia Bank exists to benefit our members and will consider each member's circumstances on an individual basis to assist you during your temporary financial hardship. We are here to work with you and find the best way to get you back on track.

  • We will access your application for suitability in line with the National Consumer Credit Code National Consumer Credit Protection Act 2009 and the Customer Owned Banking Code of Practice.
  • We will respond to you within five business days.
  • Once we receive all your information, we will assess your application and revert to you with a decision within 21 days.
  • If we require additional information with your application, we will contact you.
  • We will need you to provide that information within 21 days of our request. If we can make an arrangement, normal interest and fees will continue to apply.
  • We’ll provide you with details of the change in writing and discuss a strategy for making up the difference in repayments in the future.
  • If your request is declined, we’ll write to you and explain our reasons. Contact details for the Australian Financial Complaints Authority if you are not satisfied with our decision.

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