Cancelling your assistance

As you know, your COVID-19 financial assistance may increase the overall amount you pay on your loan in the long term. If you have opted to defer your repayments, interest continues to be charged on your loan during the assistance period. If you’ve opted for reduced loan repayments, your loan balance will not reduce as it usually would because you’re not making your full repayments. As a result, the longer you stay in assistance, the more interest you may pay on your loan in the long term.

If your financial situation has improved and you’re able to start making repayments, you can choose to start making repayments on your loan or end your financial assistance early. If you are able to do this, please contact us on 0800 606 606.

If life has taken a further unexpected turn and you need additional assistance, or if this assistance is no longer suitable, please get in touch on 0800 606 606.

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End of assistance

If you remain in COVID-19 financial assistance for the full assistance period, we’ll be in touch, we’ll be in touch before your assistance ends about resuming your repayments. Because your loan balance may increase due to this financial assistance, your limit and minimum repayments may also increase at the end of your assistance.

If you’re unable to meet your new minimum repayments, we can discuss with you what help is available that is appropriate to your individual needs and financial situation. Options may include extending the term of your loan or applying for an extension of your repayment assistance. If you would like to discuss these options or apply for an extension, please get in touch with us 2-3 weeks before your assistance ends at
0800 606 606 and we will talk to you about your financial situation.

Westpac Loan Cover attached to a personal loan exiting assistance

Your policy would normally terminate if the limit or term of your personal loan increase. To help ease the process, as an exception you’re able to keep your policy in place if you need to restructure your loan at the end of your COVID-19 loan repayment assistance period (unless your policy has expired or terminated prior to this). Just be aware that your policy won’t cover any increase in loan limit or term resulting from any personal loan variation. If your personal loan account is restructured again in the future (after any initial end-of-assistance restructure), this Westpac Loan Cover policy will terminate as per the usual process.  Since we no longer accept applications for Westpac Loan Cover, we won’t be able to offer additional cover under your policy, or provide a new policy.

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Extending your assistance 

If you're unable to restart your repayments when your initial COVID-19 financial assistance is due to end, one of the options may be to apply to extend your assistance. As with the initial assistance, an extension may mean your minimum repayment amount may increase at the end of the extension period and you may pay more in interest over the term of your loan.

To apply for an extension, please call us 2-3 weeks prior to your assistance ending on 0800 606 606. One of our team will ask some questions on how COVID-19 has impacted you financially and assess whether this type of assistance suits your situation.

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Resuming your assistance

If you cancelled the financial assistance you had for your home loan or personal loan early but now want to reinstate the assistance, you will need to reapply. Please call us on 0800 606 606 to speak to one of our team, who will ask some questions on how COVID-19 has impacted you financially.

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Credit card

As you approach the end of your Westpac credit card financial assistance, we’d like to make sure you’re aware of your obligations and what to do if you will be unable to meet them. Please refer to your COVID-19 financial assistance disclosure letter which details everything you need to know. Please keep the letter safe and secure as it is an official record of the changes to your account(s).

If you have any questions or need further assistance, please email us at or call 0800 606 606 (+64 9 375 9907 for overseas) 8am to 5pm, Monday to Friday.

If you haven’t already done so you may wish to seek free, independent and confidential budgeting advice by contacting MoneyTalks at

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Financial difficulty support

Life can take unexpected turns that push us beyond our means - we understand, and we want to help.

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