page top


Qudos Bank extends Financial Relief Package to support customers impacted by COVID-19

The financial and mental wellbeing of our customers remains our top concern and we’ve prioritised measures to help provide immediate relief to those customers most impacted.

We’re extending our support for customers experiencing financial uncertainty.

  • For customers on an existing deferral plan, as of 8th July 2020, our regulator The Australian Prudential Regulation Authority (APRA) has provided us with the ability to extend the repayment holiday period to 10 months from the start of your deferral, or until 31st March 2021, whichever comes first. As part of this process, an individual credit assessment will be required to ascertain if an extension or new deferral is appropriate for your specific circumstances.
  • Our teams have already been checking in on those customers on a deferral plan to assess their ability to begin repaying their loans and will continue to contact customers prior to their existing deferral term expiring to discuss their individual circumstances.
  • Customers who can recommence loan repayments should do so following their deferral arrangement. For customers with reduced incomes and ongoing financial difficulty due to COVID-19 we will work with you to provide additional support as needed under our financial hardship process.
  • If you are not currently on a support package and require assistance, please see our available options below.

We are always here to help you through these difficult times. If you would like to speak to one of our team members about your available options, please call us on 1300 747 747.

Support for customers with home loans  

  • Repayment holiday for customers with home loans: You can apply to pause your home loan repayments for up to six months if you are experiencing difficulty as a result of COVID-19. You can apply straight away via Online Banking. Interest will continue to capitalise. For more information, please refer to our dedicated page
  • Modify your loan repayments: We’re offering the flexibility to switch fee free from Principal and Interest payments to Interest Only payments*. (Note a change of interest rate will apply).
  • Reduce your repayments to the minimum amount: If you’ve been paying more than the minimum repayment each month, you can request to reduce this to the minimum payment amount, freeing up extra cash flow. Simply send your request via Secure Mail in Online Banking.
  • Access fee free redraw and offset: If you need access to your money sooner, we encourage you to make the most of any redraw or offset funds that you may have access to.
  • Increase your loan term: We can extend your loan term to ease the pressure and reduce your repayments when you start to make them again.
  • Reduction to existing variable home loan rates: We’re automatically reducing your current variable home loan rate by 0.10% p.a to lower your repayments. You don’t need to do anything, we’ll make this interest rate reduction effective Thursday 2 April 2020.
  • Reduction to new fixed home loan rates: New 2.29% p.a. 2-year and 3-year fixed home loan rates (comparison rates# of 2.95% p.a. and 2.89% p.a. respectively) for owner-occupiers making principal and interest repayments, with 20% or more deposit, effective Wednesday 8th July 2020 – a reduction of up to 0.20% p.a. These rates are available for new or existing customers - now's a good time to consider reviewing your mortgage. If you're an existing customer and would like to take advantage of these new rates, please call us on 1300 747 747.
  • Waiving certain fees: We won't charge any fees should you need to change your loan type or switch your repayments, and we'll continue not charging you any late payment fees on home loan repayments. We will also waive break costs on a fixed rate home loan due to hardship where you are switching to another home loan product with Qudos Bank.

Support for customers with Term Deposits  

  • Increase to new fixed Term Deposit rates: We’ve increased our 3, 5, 6, 7, 9, 11 and 12-month Term Deposit rate by 0.15% p.a. (for deposits $5,000 to $1 million), effective Thursday 2 April 2020, and again by 0.10% p.a. (for deposits $5,000 to $1 million), effective Tuesday 21 April 2020.
  • Break your Term Deposit: For customers financially impacted by COVID-19, we won't charge any break costs for the early release of Term Deposit funds.
  • We don’t charge fees: We’ll continue to ensure you don’t pay for bank fees or account keeping fees on term deposits.
  • Earn interest sooner: You have the option to be paid interest monthly instead of receiving the full interest at the end of the term (for term deposits with standard terms^).
  • Security of deposits: Enjoy peace of mind knowing your deposits are protected under the Financial Claims Scheme up to AUD$250,000 per customer.

Support for customers with personal loans 

  • Reduction to existing variable personal loan rates: We’re automatically reducing your current variable personal loan and car loan rate by 0.10% p.a. You don’t need to do anything, we’ll make this effective Thursday 2 April 2020.
  • Reduction to new variable personal loan rates: New 10.74% p.a. unsecured personal loan and 6.19% p.a. secured car loan rates (comparison rates# of 11.79% p.a. and 6.40% p.a. respectively), effective Thursday 2 April 2020 – a reduction of up to 0.10% p.a. These rates are available for new or existing customers.
  • Repayment holiday for customers with personal loans: You can apply to pause your personal loan repayments for up to six months if you are experiencing difficulty as a result of COVID-19. You can apply straight away via Online Banking. Interest will be capitalised.
  • Waiving certain fees: We're waiving application fees for personal loans, and we'll continue not charging you any late payment fees on personal loan repayments.
  • Other assistance options: We'll work with you to consider what other options may be available, including reducing your repayments, extending your loan term or consolidating multiple loans.

Support for customers with superannuation 

  • Early release of superannuation: The Government has recently announced that customers experiencing financial stress as a result of COVID-19 can access up to $10,000 of their superannuation in the 2019-20 tax year and a further $10,000 in the 2020-21 tax year through myGov. You will not need to pay tax on amounts released and the money they withdraw will not affect Centrelink or Veterans’ Affairs payments.
  • Temporarily reduce superannuation minimum drawdown rates: The Government has temporarily reduced superannuation minimum drawdown requirements for account-based pensions and similar products by 50 per cent for 2019-20 and 2020-21. This measure benefits retirees by providing them with more flexibility as to how they manage their superannuation assets.

For more information about the support available to you during this time, check out the Government’s Money Smart website and the Treasury’s factsheet on early access to superannuation and reducing minimum drawdown rates.

If you’d like to know more about Qudos Super, contact our team by emailing or call 1300 721 720.

If you would like to read more, including some important information about what happens to your super account and any insurance cover if your account balance drops below $6,000, please refer to our news article here.

Accessing the Qudos Bank Financial Relief Package

Apply for Home or Personal Loan Repayment Holiday

If you are experiencing financial stress as a result of COVID-19 and would like to pause your home loan or personal loan repayments, please visit our repayment holiday page for more information or you can apply straight away by logging into Online Banking.

Financial Hardship Assistance

To support customers facing financial uncertainty, we have a dedicated Financial Assistance team who are ready to help. Please visit our Financial Hardship page. If you require financial assistance for a credit card, please email:

Banking services for customers during COVID-19



At this stage our branch network remains open and is operating as usual. As you continue to practice the social distancing recommendations advised by the government, which includes staying at home if you feel unwell, we ask that you practice these same measures when visiting one of our branches. 

Call Centre

Our call centre is available to assist with account and service enquiries as normal however please be patient as we are experiencing an increase in the volume of calls.

1300 747 747 Mon - Fri: 7am - 7pm (AEST) Sat: 9am - 5pm (AEST)



You can visit most major ATM networks and withdraw cash and make balance enquiries free of charge. You can also withdraw cash at most major supermarkets and Australia Post free of charge


Digital Banking

We encourage customers wherever possible to use our digital banking services including Mobile App Banking, Online Banking and Telephone Banking which are available 24/7.

Please visit the Qudos Bank App page to find out how to download the mobile banking app on your phone or tablet. 

Contactless Payments - Tap 'n' Go

To reduce the risk of spreading or contracting COVID-19, we encourage customers to use Tap 'n' Go card payments.

To use contactless payments, simply hold your Qudos Bank Credit Card or Debit Card near a payment terminal and the card will process the payment. Note: a limit of $100 per transaction applies, transactions over $100 will still requrie a pin number to be entered on the terminal.


Apple Pay and Google Pay

To use mobile payments, simply hold your device near a payment terminal and use Touch ID or Face ID to process the payments. Note: a limit of your available balance applies with a maximum of 30 transactions per day. Visit our Apple Pay page or Google Pay page for more information on how to get started.


  Important Information

The information on this page is of a general nature and has been prepared without considering your objectives, financial situation or needs. Before acting on the information, consider its appropriateness to your circumstances.

Loans are subject to approval. Normal lending criteria, terms and conditions and fees and charges apply. Mortgage insurance is required for home loans over 80% and is subject to approval.

#WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan.

The fixed rate home loan comparison rates assume a loan for an owner-occupied established home of $150,000 fixed for 2 or 3 years (respectively), monthly repayment frequency, a term of 25 years, a 20% or more deposit with principal and interest repayments, reverting to 3.09%.

The personal loan comparison rates assume a monthly repayment frequency and an unsecured loan of $10,000 with a term of 3 years, or a secured loan of $30,000 with a term of 5 years (as applicable).

* Interest only subject to approval. During an interest-only period, your interest-only payments will not reduce your loan balance. This may mean you pay more interest over the life of the loan.

^ Standard terms are available for 3, 6, 9, 12, 24 and 36 months