25/03/2020
From Friday 20 March 2020, Macquarie is providing a Payment Pause for eligible clients up to 6 months. This applies to all business loan, overdraft, home loan, car loan and credit card clients who are experiencing financial difficulty.
For consumer loans, interest will be accrued during the payment pause period and will be capitalised (along with and arrears) at the end of that period. The loan term will be extended as required to keep the regular repayments same (including any balloons).
Customers will receive a variation letter as soon as it is procesed that confirms the details inclusing the next payment due date, new regular repayment amount and new contract expiry date.
For all other loan products the payments will simply have a pause in the contract, with the paused payments being added at the end. There will be no accrued interest charged.
It will have no negative impact on the clients credit rating.
Customers can make payments during the Payment Pause, which wont affect the Payment Pause arrangement.
Do you need immediate financial relief?
If you’ve been impacted by COVID-19, you can request a payment pause on your Macquarie product(s). To make a request, please complete this online form: https://www.macquarie.com/…/person…/forms/financial-hardship. Alternatively, customers can email [email protected] or call 1300 364 050.
To discuss relief measures available and how we can provide ongoing support, you can also contact us using the direct numbers listed below.
Home loans – 1300 363 330
Credit Cards – 1800 674 922
Leasing – 1300 368 908
Business Banking – Please contact your relationship manager or call 1800 620 673
More information on our approach to financial assistance can be found here: https://www.macquarie.com/…/disclos…/financial-hardship.html, including ways to get in touch with us and links to external resources that may be helpful.