News Release
For Release: 20 March 2020

ANZ launches major COVID-19 support package-Reduction in variable and fixed lending rates; six-month repayment
deferrals for impacted customers ANZ today announced an unprecedented support package for small business and home loancustomers with the potential to inject $6 billion into the Australian economy and assist in
the recovery from the current COVID-19 crisis.
The package includes a reduction of some fixed-rates of 0.80%pa on new loans for small
business and 0.49%pa for home loan customers, as well as a reduction of variable small
business rates of 0.25%pa and variable home loan rates of 0.15%pa.
Crucially, ANZ small and medium business customers as well as its home loan customers
impacted by the crisis can request a deferral on loan repayments for up to six-months.
Key Points
Small & Medium Businesses:• Decrease variable interest small business loan rates in Australia by 0.25%pa, effectivefrom 27 March 2020, resulting in a 0.50%pa1 reduction since last week.
• All impacted customers can request a six-month payment deferral on loan repayments
for term loans, with interest capitalised2.
• Making available temporary increases in overdraft facilities for 12 months.
• A reduction by 0.80%pa to a new two and three-year fixed rate of 2.59%pa for secured
small business loans up to $1 million3, effective 3 April 2020.
Home Loan Customers:• Decrease variable interest home loan rates in Australia by 0.15%pa across all Variable
rate indices, effective from 27 March 2020.
• Introduction of a two-year fixed rate of 2.19%pa4 for Owner Occupiers paying Principal &Interest; our lowest fixed-rate home loan on-record.
• Request a deferral of home loan repayments for up to six-months, with a review atthree-months, with interest capitalised2.
ANZ Chief Executive Officer Shayne Elliott said: “Our package supports Australian businessand the people who work for them. We understand the impact this crisis is having and ANZ
will play a major role in backing Australia’s economy and our customers through thesechallenging times.
“We have been working with both the Federal Government and our regulators to keep
money flowing through the economy and we’ll do all we can to keep businesses afloat andAustralians employed, as well as reducing the financial pressure on households.
“Our decision to reduce variable home loan and small business rates is the right thing to dofor our existing customers, particularly the significant number of our home loan customers
1
ANZ announced it would decrease variable interest small business loan rates by 0.25%pa, effective 13 March2020.
2Interest Capitalisation is the addition of unpaid interest to the outstanding loan balance. The outstanding loanbalance increases when payments are postponed during periods of deferment or forbearance and unpaid interest iscapitalised.
3
Applicants must have less than $1M total business lending with ANZ and must meet ANZ's security requirements.
4
Available under ANZ Breakfree from 23 March 2020.

Australia and New Zealand Banking Group Limited

ABN 11 005 357 522

who are self-employed and managing the effects of the COVID-19 crisis on their own
businesses.
“The highly competitive fixed-rates being offered will provide customers certainty over
repayments with our lowest fixed-rates on record,” Mr Elliott said.
Small & Medium business
The six-month payment support is available to all ANZ’s small and medium businesscustomers. For a customer with $1m in lending, the support equates to $40-$50k of working
capital. If all ANZ’s small and medium customers were to take up the offer of a payment
deferral, more than $2.5 billion would be freed-up for businesses to continue operating andemploying staff during this time. ANZ will also provide an option of a temporary increase inoverdraft facilities for 12 months.
Severely impacted Small & Medium business
ANZ acknowledges there are severely impacted small and medium business customers whowill need specialist support. These customers will have access to relief measures specificallyto respond to their circumstances.
Financial assistance for home loan customers
ANZ is offering financial support to home loan customers impacted by COVID-19. This can
include deferring home loan repayments for up to six months. Under a home loan
repayment deferral, customers do not need to make repayments to their home loan for aperiod of time. Unpaid interest during this period is capitalised, meaning it is added to thecustomer’s outstanding loan balance to be paid over the remaining loan term.
For customers ahead in their home loan repayments there may be options such as accessing
their existing redraw balances or using funds in their offset or deposit accounts. For the
majority of customers who pay more than the minimum home loan repayment amount, they
can reduce their monthly payments to the minimum repayment amount through internet
banking or by calling 13 25 99.
Current Standard Variable Home Loan Rates• For Standard Variable Rate Owner Occupiers paying Principal & Interest, the Index Ratewill decrease by 0.15% to 4.39%pa.
• For Standard Variable Rate Investors paying Principal & Interest the Index Rate will
decrease by 0.15%pa to 4.99%pa.
• For Standard Variable Rate Owner Occupiers paying Interest Only the Index Rate will
decrease by 0.15%pa to 4.94%pa.
• For Standard Variable Rate Investors paying Interest Only the Index Rate will decreaseby 0.15%pa to 5.24%pa.
More information, including dedicated contact telephone numbers available from Monday,
can be found at our dedicated site on anz.com.
For media enquiries contact:
Stephen Ries; +61 409 655 551
Nick Higginbottom; +61 403 936 262