Under new measures proposed by the Financial Conduct Authority, people who have been hit by coronavirus will not be required to pay interest on credit cards or loans, and banks will have to give you at least a £500 interest-free buffer on your overdraft.
Banks have also been told that they are not allowed to increase anyone's overdraft costs while the country is battling to stop the spread of Covid-19.
These measures have been designed to provide a short-term stop-gap for a period of up to three months to give people more financial stability during the crisis.
Banks have until 9am on Monday to respond to the city regulator before it makes them official, then the new rules will come into action on April 9.