COVID-19 member support

BankVic is committed to supporting our members.

Financial hardship assistance

For members who are financially impacted by COVID-19, we are here to help. We have the following financial assistance options available.

Financial hardship assistance

  • Reduce your repayments to the minimum amount

    Any member that is currently making higher repayments on their loan than what is required, can adjust their repayments back to the minimum in order to free up cash.

  • Redraw advance payments

    Advance payments on home loans can be accessed to cover future repayments and can be withdrawn to support short-term cashflow needs, if members have a Redraw facility on their accounts.

  • Repayment deferral

    Members may apply to defer repayments across all lending products. Available redraw and advance funds should be used first before applying. Note that interest will continue to be charged throughout the assistance period and will be added to the outstanding balance.

Apply for assistance

For further information, contact us on 13 63 73.

Branch availability

Due to COVID-19, members are unable to visit the Monash Medical Centre or Sunshine Hospital BankVic branches unless they are staff or visiting a patient. Please check hospital visiting information before arrival.

Insurance information

Here is a summary of how CGU is supporting existing policy holders who are experiencing hardship as a result of COVID-19.

  • Insurance with CGU

    For full details and further information:

    • Visit the CGU website
    • Contact 13 24 81 for general enquiries
    • Contact 13 24 80 to make a claim.
  • Financial Hardship

    We understand the coronavirus pandemic isn't only a health issue, it's putting pressure on people's finances, too.

    If you're experiencing financial hardship and you're worried about whether you can make your next insurance payment, you can talk to a CGU consultant on 13 24 81 to learn about your options.

  • Consumer Credit Insurance

    If you have been stood down or terminated from your job, CGU have made temporary changes to the eligibility for payment of Involuntary Unemployment (IU) claims for individuals and self-employed, including waiving the 21-day waiting period.

  • Consumer Credit Insurance Claims

    For claims, including disability, involuntary unemployment, trauma and life, please:

    • Contact Consumer Credit Insurance Claims on 1800 248 224 or
    • Complete a claim form and submit to
  • Travel Insurance

    If you have to cancel your trip because of the coronavirus pandemic, you might be eligible for a refund or, if your trip is postponed, you can:

  • Insurance with Point Insurance

    If you are an Income Protection policy holder with Point Insurance and wish to make a claim or suspend payments, contact:

A message from Anthony De Fazio, BankVic CEO

The Coronavirus outbreak is changing rapidly, and as we would expect during this time there is a high level of community concern. We remain focused on continuing to support the banking needs of our members, while protecting the health and wellbeing of our members, team and the community.

We understand that our members, for any reason, could be impacted at this unprecedented and difficult time. We have outlined here on our COVID-19 website how we will support our members who are affected by the Coronavirus and we welcome your call to discuss options.

On behalf of BankVic, with many of our members on the frontline, we sincerely thank you for your selfless dedication and ongoing commitment to keeping our community safe. In turn, it is extremely important to us that we continue to support you, our members, especially when you need us most.

Australian Government Guaranteed Deposits

Australia has a strong banking system underpinned by high standards imposed through laws that an Approved Deposit taking Institutions (ADI) must meet. BankVic is an ADI so that means that the Australian Government guarantees your deposits with us up to $250,000 per account holder.

For more information you can visit the APRA website.
Find out more

Mindfulness meditations

The Emergency Services Foundation has worked with leading mindfulness expert Dr Richard Chambers to develop a suite of short guided meditations especially designed to help people in the emergency management sector.

Research shows that mindfulness meditation literally rewires the brain, strengthening our ability to stay focused even when things are stressful, unpredictable and constantly changing. With some emergency management personnel on the frontline of the response, now more than ever, effective ways of staying calm and focused during shifts and being able to unwind more easily afterward are needed.

Bite-sized guided meditations to boost mental resilience and wellbeing are available on the Emergency Services Foundation website.
Access guided meditations

Other useful information

* For a list of compatible Apple Pay devices, set support Find out more at **Available on compatible devices, find out more at Google Pay is a trademark of Google LLC.

COVID-19 Updates

Visit the Australian Government Department of Health website to stay up to date with official information and advice about the coronavirus (COVID-19) situation. You can check your symptoms and get notified when urgent information and updates are published.
Find Out More

Terms and conditions

Important things you should know

Information on this page is general in nature and does not take into account your personal circumstances. You should consider whether it is appropriate for you before acquiring the product or service.

Fees and charges may apply. Interest rates are variable and subject to change. Information on our terms & conditions, interest rates and fees & charges are available on request.

We recommend that you read the following documents: