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Support for individuals and families.

Have you been financially affected by COVID-19? We have support options to help get you through.

Apply for personal support

COVID-19 support options at a glance

We're here to support your financial wellbeing and the current COVID-19 situation is no exception. Here’s a quick overview of how we can help take some of the pressure off your finances.

Access to funds

Ways to get access to emergency funds

  • Apply for a 90-day temporary overdraft
  • You may be able to access some of the money from your term investments early
  • Get help with fees

Find out more

Financial relief

Reduce your loan repayments to relieve financial pressure

  • Interest-only repayments
  • Defer loan repayments
  • Temporarily reduced purchase interest rate on an ASB Visa Light credit card

Find out more

Government support

Support packages for employees and beneficiaries

  • Leave and self-isolation support
  • Grants for urgent expenses

Find out more

Access to funds

Access emergency funds with a 90-day temporary overdraft facility

If you need a little extra to get by, you could get access to emergency funds with a 90-day temporary overdraft facility at a reduced rate of 2.95% p.a. and waived establishment fee. You can apply for up to:

  • $5,000 if you have an ASB home loan
  • $1,000 for ASB personal customers

ASB's lending criteria and terms apply (subject to salary credited to ASB account before 1 March 2020). After the 90-day term our unarranged overdraft interest rate will apply, currently 22.50%p.a. (subject to change). ASB’s terms and hardship eligibility criteria apply.

Get early access to some of the money from your term investments

Do you have money in an ASB term deposit or ASB Term Fund? If you need to free up some funds and you’re eligible, you may be able to access some of the money in your term investments early if you are in hardship.

ASB’s terms and hardship eligibility criteria apply.

Get help with fees

To support you over this time, we’ll be waiving your loan application, top-up and re-documentation fees for both home and personal lending if you need to make changes to your loan. (Early Repayment Adjustment fees still apply).

Financial relief

Switch to interest-only repayments

If you need mortgage relief, you could apply to switch to interest-only repayments (instead of paying back the principal and interest on your home loan) for a period of time.

  • If your income has been impacted by COVID-19, you can apply to switch to interest-only repayments for up to 6 months.
  • Or if your finances have been impacted by any other COVID-19 related reason, you can apply to switch to interest only repayments for up to 3 months.
  • There are also interest-only options for our personal loan customers.

Interest-only repayment options can help reduce your home loan repayments in the short term. Whilst interest is still paid, the loan balance will not decrease and interest will continue to be calculated on the principal owning, meaning you will pay more interest overall. Afterwards your repayments will likely be higher unless the loan term is extended.

Defer your loan repayments

If you need to, you may be able to temporarily pause your home loan repayments.

  • If your income has been impacted by COVID-19, you can apply to defer your mortgage repayments for up to 6 months.
  • Or if your finances have been impacted by any other COVID-19 related reason, you can defer your mortgage repayments for up to 3 months.
  • There are also deferral options for our personal loan customers.

Interest will still be charged and will be added to the loan balance, so your loan balance will continue to increase until you resume payments, and you’ll pay more interest overall. Afterwards your repayments will likely be higher unless the loan term is extended.

Relief with a reduced purchase interest rate on an ASB Visa Light

We’ve dropped our ASB Visa Light purchase interest rate to 9.90% p.a. for up to six months.

If you have an ASB Visa Light card you’re sorted – your rate will automatically change. If you hold a different consumer ASB credit card you can transfer to an ASB Visa Light and access this reduced purchase interest rate.

This reduced rate applies from the opening date of statements received in May 2020 (or the opening date of the account, if later), until the closing date of statements received in October 2020. After this period is complete, the standard purchase interest rate will apply (currently 13.50% p.a.).

ASB’s lending criteria and terms apply. Interest on cash advances charged at cash advance interest rate (currently 22.95% p.a.). Cash advance and service fees apply.

ASB's lending criteria and terms apply.

Frequently Asked Questions

Here are some of the questions people ask us most often.

If you can't find the answer you need please contact us. You can complete the online form and we'll get back to you, or you can call us. Please be patient, as there are long delays at the moment.

Personal Support FAQs

How to apply for support

Choose and apply online

To help take some pressure off your finances we’ve put together several options to help you get through. You can apply for the options that best meets your needs in the one online application form.

Tip: The fastest way to apply is online. If you don’t have internet banking, you can call us and we’ll complete an application form for you over the phone.

An ASB financial expert will call you

One of our experts will contact you to discuss your application and support you to get the right solution.

We’re going as fast as we can, but with so many people in the queue it’s currently taking around 2 business days for us to get in touch.

Confirmation

As soon as we’ve set up with the support you need we’ll let you know via email or text.

Stay up to date with COVID-19's effect on KiwiSaver and investments

Keeping up to date with your KiwiSaver and Investment balance

Check out our blog for background on market volatility and why it's affected your account balance.

COVID-19, KiwiSaver & Investment market updates

Keep up to date with what's happening in financial markets on our website. We'll update this page regularly as things develop.

Listen to our market update podcast

Our latest podcast provides an update on what COVID-19 has meant for sharemarkets and investors so far.

Frequently asked questions

Find the answers to some of the frequently asked questions we are being asked.

Need some more information on what support the ASB KiwiSaver Scheme can offer? We've created a guide to help you explore your options.

Apply for support

Ready to apply for support or want more information?

ASB's terms apply.