We understand there is a lot of uncertainty due to COVID-19. We want to support our customers, so if you’re facing difficulty making payments on your loan(s), you may be able to defer them.

Principal and interest repayment deferral

This repayment assistance is available for existing Westpac customers with business lending of less than $1 million and who currently have a Business Term Loan or an Equipment Finance Loan (excluding FlexEquip). Principal and interest repayments can be deferred for a period of up to 3 months.

Please fill out the form below if you would like to apply for a principal and interest repayment deferral.

Principal repayment deferral

This repayment assistance is available for existing Westpac customers with business lending of less than $1 million who currently have a Business Term Loan or an Equipment Finance Loan (excluding FlexEquip). Principal repayments can be deferred for a period of up to 6 months.

Please fill out the form below if you would like to apply for a repayment deferral. If you have business lending of greater than $1 million, we may be able to offer repayment assistance in some instances. Please contact your Relationship Manager to discuss how we can best help.

Important information

If choosing a deferral of both principal and interest, it’s important to understand that while the payments on your chosen loan(s) will stop, interest will continue to be charged on your loan. This interest will be added to your loan balance so the amount you owe on your loan will increase.

If choosing a deferral of principal only, your loan payments will reduce so you only pay the interest on your loan – you do not repay the principal on your loan.

For either deferral option, repayment of the principal amount of your loan is temporarily stopped. Because the end date of your loan is unchanged, your regular loan repayments will increase to repay the loan in full within the existing term.

If you would prefer to extend your loan term we can discuss this option with you before the deferral period is finished.

You can contact us at any time during the repayment deferral period to reinstate your repayments.

Please complete this form if you have business lending of less than $1 million. If you have business lending of greater than $1 million, please contact your Relationship Manager to discuss your repayment options.

You’ll need your loan account number to complete the information below. This can be found on your online banking or your loan statements.

Your details
Repayment assistance request details
E.g. 03-1234-1234567-091
I want
(Interest is still payable)
Please confirm the following terms

Loan repayment deferral terms and conditions

By submitting this form:

  • You confirm you are acting on behalf of all the borrowers of the loan.
  • You agree we can communicate with you in relation to this request by email to the email address you have provided above.
  • You acknowledge and agree that you are permitting Westpac to collect, store, use and share your personal information in accordance with Westpac’s Privacy Policy.
  • You acknowledge that even though your repayments will be temporarily reduced on your loan during the deferral period, the total interest payable over the full term of the loan will be greater.

Please click 'Submit your request' only once. It could take up to 10 seconds for the form to submit.