Supporting regional Australia is what we do best, especially during uncertain times.

The COVID-19 situation is continually evolving, we are following an approved response plan to ensure the well-being of our staff, members and the broader community.

Like all Australians, we’re closely monitoring the latest developments regarding COVID-19. Here at Regional Australia Bank, we are following an approved pandemic response plan to ensure the safety and well-being of our staff, members and the broader community. The COVID-19 situation is continually evolving, and we are meeting daily to ensure our plan for managing the prevention and containment of the virus aligns with advice from experts. We understand that this is a worrying time for many, but rest assured, Regional Australia Bank is here to support those in need at this time. Learn about the steps we are taking to help you and protect our staff.

Interest rate changes

As a responsible and ethical bank, we will provide support to our membership and assist members through these troubled times. In April 2020, we announced decreases to interest rates for our variable home loans and commercial loans to provide some financial relief to our customers. Additionally, we increased the interest rate for a term deposit of $5,000 over a three month term.

Male hospitality worker looking relieved

Ways we can help

In addition to the interest rate decrease on home and commercial loans effective from 1 April, 2020 if you are experiencing hardship due to COVID-19 you may be eligible for the provision of:

  • Deferred loan repayments (up to six months);
  • Interest only repayment options for personal, commercial and home loans.

To check your eligibility, please contact your Relationship Manager directly, or call us on 132 067.  

Indian businesswoman seeking consultation business office meeting

Hardship assistance

We pride ourselves on being a responsible financial institution and understand, like now, that life can take unexpected turns. We appreciate every situation is different, and we have a range of different options that can be explored - each tailored to your specific circumstances. If you need assistance, please reach out to us early by contacting us via phone 132 067 or by emailing [email protected] so we can discuss options to help you sooner rather than later.

Support for business

Our business members are the backbone of the regional Australian economy. If regional businesses are impacted, then everyone is impacted. If you are a business owner, please do not hesitate to contact your Relationship Manager to discuss how we can assist you through this challenging time.

Regional Australia Bank is an approved participant in the Government’s Coronavirus SME Guarantee Scheme. That means, if you are a small to medium business or not-for-profit (who holds an ABN) with an annual turnover of less than $50 million, you may be eligible for a loan of up to $250,000 to assist you with current and upcoming cash flow needs.

Find out about eligibility requirements and conditions, and contact our SME and Commercial Lending Team to discuss your options.

Visiting a branch

We understand that you may require face-to-face services at this time, which is why we would like to take all precautions to ensure the health and safety of our staff and members.

We kindly ask that you refrain from visiting our branches if:

  • You have flu or cold like symptoms (runny nose, cough, sore throat, fever etc.); and/or
  • You have been in close contact with a confirmed case of COVID-19

In-line with current Department of Health advice, if you do need to visit a branch, please ensure you maintain a distance of at least 1.5m between yourself and other customers and staff members. Our staff are regularly cleaning and disinfecting surfaces within each branch.

Please note, a few things may change when you visit us. For the safety of our members and staff we have removed pens, transactional forms and all printed materials. If you would normally have completed a form for your transaction, we ask you simply let our staff know what banking services you require and they will assist.

Your money, protected

The Financial Claims Scheme (FCS) is an Australian Government Guarantee scheme that provides protection and quick access to deposits in banks, building societies and credit unions (including Regional Australia Bank) in the unlikely event that one of these financial institutions fails.

Under the FCS, certain deposits are protected up to a limit of $250,000 for each of our account holders, and those at any bank, building society, credit union or other authorised deposit-taking institution (ADI) that is incorporated in Australia and authorised by the Australian Prudential Regulation Authority (APRA).

The FCS can only come into effect if it is activated by the Australian Government when an institution fails. Once activated, the FCS will be administered by the Australian Prudential Regulation Authority (APRA).

In an FCS scenario, APRA would aim to pay the majority of customers their protected deposits under the Scheme within seven calendar days.

Government support packages

The Australian Government has announced support for those Australians currently hit hardest by the pandemic. This includes cash flow assistance for small businesses and stimulus payments to households.

If you are a in need of support, we encourage you to contact your Relationship Manager directly, or phone our Service Support Team on 132 067.

Helpful links for COVID-19

To stay informed with the latest updates, we recommend the following:

Frequently Asked Questions

What support packages are available to me?

We are offering relief for our members in the following ways:

  • Interest rate decreases on home and commercial loans;>
  • Interest rate increase on some term deposit products;
  • Deferred loan repayments for eligible members; and/or
  • Switch to ‘interest only’ repayments for eligible members.

We will continue to work on ways to assist members through this time, and we encourage you to contact us to discuss your unique circumstances.

Can I still visit a branch to do my banking?

Yes, our branches are open however you may notice a few differences. For the safety of our staff and members, we have removed items such as pens and transaction forms. Instead of using a form, please just let our staff know how they can help. We have also placed a limit of the number of members who can be in a branch at once. This is to ensure we are adhering to social distancing regulations. We ask that if you have cold or flu symptoms that you please do not visit a branch at this time.

Will branches close? And what happens if they do?

We have adjusted our branch operations to ensure we are adhering to social distancing measures recommended by the Australian Government. At this time, all branches are operating as normal, however you may wish to conduct your banking with us remotely. Many of our members choose to bank online, either via our website and Internet Banking or through our App. Deposit and withdrawals can be made via [email protected] also.

I don’t want to do my banking face-to-face, how can I contact you?

We understand that you may choose to change the way you do your banking at this time. Here are some options for you, should you choose to bank remotely with Regional Australia Bank:

  • Internet Banking. If you don’t currently have access, call us on 132 067 to set this up for you;
  • App. Download the Regional Australia Bank app to conduct your banking on-the-go;
  • Via phone. Our Service Support Centre is open from 8am to 6pm Mon-Fri and 8.30am to 12pm Saturdays by calling 132 067;
  • Website; for all product information, and loan applications head to our website;
  • Go cash free. Our visa debit and credit cards have tap-and-go technology to allow you to make purchases without needing to touch a keypad or handle cash. To order one today, phone 132 067.
  • Email us. If your enquiry isn’t urgent, contact us via [email protected]

Can I still deposit cheques?

Yes, our branches are currently open and you are able to make deposits over-the-counter. Alternatively, you are able to use [email protected] and make your deposit at your local Australia Post outlet. We encourage you to please adhere to social distancing guidelines by keeping at least 1.5m between yourself, other customers and our staff.

I’m worried about my loan repayments, what can I do?

We understand that this is a challenging time for many industries across Australia. If you have lost your job, or are experiencing financial difficulties, please contact us as soon as possible so that we can help. You can call our Financial Assistance Team on 132 067 or email [email protected] or complete this form and we will get back to you shortly.

I have an appointment with a lender, will this still go ahead?

For the safety of our staff and members, where possible we are no longer conducting face-to-face appointments. We encourage you to get in touch with your Relationship Manager who will assist you through this time.

How do I access Government support if I am a small business owner?

How are you ensuring a safe workplace for your staff?

Many of our employees have limited face-to-face interactions with our customers and the general public. However, having an extensive branch network means that a significant portion of our workforce deals with the public directly. We are actively adhering to social distancing laws in our branches, and have restricted the number of members who can enter a branch at the one time.

We have put restrictions on travel, are postponing large-scale events, limiting the size of meetings, and providing remote-work opportunities. We also have many video and web conferencing solutions available and continue to remind staff on the importance of good hygiene with health education and support whenever needed.

Our branches also have limits to the number of members who can be in-branch at once. This is to ensure we are adhering to social distancing regulations.

I have an enquiry about my insurance policy, who do I speak to?

We understand many of our members have insurance policies with CGU Insurance, MLC and/or Allianz Insurance. We encourage you to contact your insurance provider directly so they can assist you with your enquiry.

Are my savings safe?

Yes. Deposits of up to $250,000 per member are protected by the Australian Government under the Financial Claims Scheme. To read more, visit our page about the Financial Claims Scheme.