Special emergency assistance package

The Bank has activated its special emergency assistance package to help residents across Victoria impacted by the recent bushfire emergency.

For those affected by this disaster please talk to us about the following special assistance:

• We will provide additional loans or changes to repayment arrangements for Commonwealth Bank home loan customers who may experience difficulties because of the bushfires. We will waive the Early Repayment Adjustment charge for a fixed rate home loan or business loan where a home or business is destroyed or damaged.
• Customers will not pay interest on their home loan for up to 3 months where their income or expenses have been affected by the fires, and business loan customers will also be eligible for repayment holidays.
• We will not charge interest on a home loan while our customers resolve insurance claims where their home has been damaged or destroyed.
• Insurance claims will be handled as quickly as physically possible.
• All charges for customers wishing to access term deposits, Commonwealth Investment Bonds or CBFC debentures ahead of maturity date, will be waived.
• Any business restructuring of an existing loan will incur no establishment fees.
• We will review credit card instalments for customers of good standing and consideration of requests for emergency credit limit increases.
• We will waive branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

 

In addition, we will provide immediate cash assistance of $10,000 to our home loan customers where their home has been destroyed by the bushfires, or $5,000 where their home has been partially destroyed. Similar assistance is available to our business customers who have a loan for their business premises with us.

Every customer’s circumstance is different and we will work with them individually to assess and support their needs.  We have a team of 28 specialists who are on the ground providing on the spot assistance.

For further details please visit your Commonwealth Bank branch or contact the Bank’s dedicated bushfire support team on 1300 720 814.

To fast-track insurance claims call CommInsure on 13 24 23.

 

We can also help with our financial assistance service.