Bank of Queensland : BOQ Group Offers Additional COVID-19 Support for Customers and Small Businesses Across Australia

With the impacts of COVID-19 restrictions continuing to cause strain on individuals and small businesses, BOQ Group has announced further support measures for impacted customers across Australia.

On application, the support includes:

Small businesses:

• Eligible small business customers will be able to defer repayments for up to 3 months, with loan terms extended accordingly[1]

Everyday banking:

• Eligible customers will be able to receive refunds of merchant terminal rental fees for up to 3 months
• Eligible customers will have early access to Term Deposit and Farm Management Deposit funds and a waiver of redemption fee for up to 3 months
• Specialised targeted support for larger business customers

Home loans:

• Both individual and business home loan customers will have access to a range of support measures, including deferrals for up to 3 months

The new support measures are in addition to the current range of COVID-19 financial support available, which includes:

Existing COVID-19 support for eligible customers:

• The ability to defer mortgage and/or loan repayments for a short period;
• The option to make Interest Only repayments for a short period;
• Special arrangements in relation to arrears;
• Early access to Term Deposit funds with wavier of redemption fee; and
• Waiver of other fees and charges related to non-payment.

Existing COVID-19 support for eligible existing business customers:

• Access to a low interest rate business loan of up to $5 million through the Federal Government's SME recovery loan scheme.

BOQ Group customers requiring priority support are encouraged to contact their Relationship Manager or the Customer Assistance team on 1800 079 866. Alternatively, BOQ customers can visit any BOQ branch, which will be open during any lockdown periods and following strict COVD-19 safety protocols.

This support is available for customers across the BOQ Group, including BOQ Specialist and Virgin Money Australia. Further information on support available can be found here:

· BOQ https://www.boq.com.au/help-and-support/assistance

· BOQS https://www.boqspecialist.com.au/important-information/novel-coronavirus

· Virgin Money https://virginmoney.com.au/help/support-and-assistance

ENDS

[1] Business lending less than $3m and a turnover of less than $5m, and only for loans in good standing with payments up to date or engaged in a payment program.