Small to Medium sized Enterprise
(SME) support options


  • What is the Government’s announcement about helping those financially impacted by COVID-19?

    On Tuesday 24 March the Government, along with the Reserve Bank and all retail banks, announced a six-month principal and interest Mortgage Payment Deferral option for mortgage holders and SME customers, whose incomes will be affected by the economic disruption from COVID-19. 

  • Will I qualify for this?

    If your business or income is affected by COVID-19 you may qualify for this support.   

  • What can TSB offer?

    In response to the Government’s announcement, TSB will be offering a mortgage payment deferral option for qualifying residential backed business lending. We are also available to discuss other options for our business customers facing a loss of income due to the economic impact of COVID-19.

    This includes interest only payments for up to six months for customers with residential back loans, as well as a range of other options for customers with other business lending needs. 

  • Who qualifies for support from the bank?

    Businesses that bank with TSB which have been affected by the economic impacts of COVID-19. Examples of the types of organisations that might be affected include: 

    • Employers that are struggling to retain employees 
    • Sole traders 
    • Self-employed 
    • Existing businesses 
    • Registered charities 
    • Non-government organisations 
    • Incorporated societies 
    • New businesses less than a year old 
  • Who do I contact?

    If you're interested in reducing or deferring your repayments and you have mortgage backed business lending please complete our online application form

  • What information do I need to provide?

    For Interest Only or a loan payment mortgage deferral you do not need to provide financial statements. For further lending, the Bank may require your latest financial details – we will talk to you about this. 

  • A six-month Mortgage Payment Deferral sounds great – but are there any impacts to consider?

    A payment deferral allows you to take a break from making your contractual mortgage payment for up to six months. Interest will continue to be charged and will be added to your loan at each payment date. The end-result is that you’ll end up paying more over the life of the loan.  

  • Can I take a shorter payment deferral or interest only option than six months?

    Yes, you can take a mortgage payment deferral or interest only option for terms less than six months. Talk to us to discuss the best option for you. 

  • Does this package apply to all loans at TSB?

    The Mortgage Payment Deferral and Interest Only offer is available for all residential mortgage backed business lending. We have options for other lending, please contact us to discuss.  

  • I’m already on a payment deferral, can I get this package?

    Please contact us and we’ll be happy to work with you to assess your needs.  

  • I’m on interest only, do I still quality for this package?

    Yes, you do if your income has been affected by COVID-19. 

  • What happens if my income or business returns to normal and I decide I no longer need the payment deferral or interest only?

    If at any time your circumstances change, simply contact us to discuss your options.

  • How long will the special COVID-19 Mortgage Payment Deferral be available for?

    The Mortgage Payment Deferral option is available for all qualifying customers and at this stage we have no firm end date in place. TSB also has existing options for customers experiencing financial hardship (before or during COVID-19) and these will continue to be available throughout this time.  

  • What if my loan relates to an investment property, can I still apply?

    Yes, if the loan is for a residential investment property, you can apply.  

  • Will this Mortgage Payment Deferral impact my credit rating?