Plenty of Kiwi are doing it tough at the moment, so please know you’re not alone and don’t be embarrassed to reach out for support. It’s better to get in touch with your bank or credit providers early if you’re struggling, so you can work out a plan together about how to approach things.
If you’re a Kiwibank customer take a look at our Relief and Resilience Programme, which offers a range of support if you’ve been financially impacted by COVID-19. Also look into what Government support you might be entitled to.
If you're struggling to make your home loan repayments, think about a loan deferral. A deferral means you might be able to pause your home loan repayments for up to three months.
If you’re still able to make some payments, but would like to decrease the amount, you could consider increasing the length of your loan or moving to interest-only payments.
All of these options will mean that you end up paying more over the long term, but might be worth considering if you need some short-term breathing space. Talk to your bank about what might be the best choice for your circumstances.
Have a go on our home loan calculators to see what impact changing your repayments might have on the overall length of your loan.
If you’re worried about not being able to meet your credit card payments, get in touch to see if you can set up a payment plan. Make sure you’ve got the right credit card for your current circumstances – are you still keen to collect rewards, or do you want to reduce borrowing costs with a low fee or low interest rate option? If you have a credit card with Kiwibank, you can compare rates and fees.
If you're a Kiwibank customer, the best way to get in touch to talk about any of this, is to fill out a personal support form and we'll get back to you.