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BRIEF-ANZ Launches Major Covid-19 Support Package

Published 20/03/2020, 01:27 pm
© Reuters.
ANZ
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March 20 (Reuters) - Australia and New Zealand Banking Group Ltd ANZ.AX :

* ANZ LAUNCHES MAJOR COVID-19 SUPPORT PACKAGE

* PACKAGE INCLUDES A REDUCTION OF SOME FIXED-RATES OF 0.80%PA ON NEW LOANS FOR SMALL BUSINESS

* PACKAGE INCLUDES REDUCTION OF SOME FIXED-RATES OF 0.80%PA ON NEW LOANS FOR SMALL BUSINESS AND 0.49%PA FOR HOME LOAN CUSTOMERS

* FOR HOME LOAN CUSTOMERS, TO DECREASE VARIABLE INTEREST HOME LOAN RATES IN AUSTRALIA BY 0.15%PA ACROSS ALL VARIABLE RATE INDICES, FROM 27 MARCH

* ANZ SMALL & MEDIUM BUSINESS CUSTOMERS AS WELL AS HOME LOAN CUSTOMERS IMPACTED BY CRISIS CAN REQUEST DEFERRAL ON LOAN REPAYMENTS FOR UP TO 6-MTHS

* PACKAGE WITH POTENTIAL TO INJECT $6 BILLION INTO AUSTRALIAN ECONOMY, ASSIST IN RECOVERY FROM COVID-19 CRISIS

* PACKAGE INCLUDES A REDUCTION OF VARIABLE SMALL BUSINESS RATES OF 0.25%PA AND VARIABLE HOME LOAN RATES OF 0.15%PA

* FOR SMALL & MEDIUM BUSINESS, WILL PROVIDE OPTION OF TEMPORARY INCREASE IN OVERDRAFT FACILITIES FOR 12 MONTHS

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