Commonwealth Bank offers flood relief package

10 February 2003

The Commonwealth Bank has announced emergency relief measures for customers affected by recent flash-flooding in central Queensland.

The Bank’s Group Executive, Retail Banking Services, Mr Hugh Harley, said it was particularly cruel that the region had suffered floods after a prolonged period without rain.

"We understand the damage is across nine shires and the Bank is concerned at the impact the flooding may be having on families and business people," Mr Harley said.

"That’s why we have put special arrangements in place to lend a hand, particularly in this clean-up period and when people are counting the cost of the damage."

The key features of the Bank’s natural disaster relief assistance package include:

  • additional carry on finance to meet short term needs;
  • restructuring of existing business and home loans free of additional related fees or charges;
  • providing interest only facilities;
  • extending the terms of facilities;
  • review and postponement of credit card payments for customers of good standing;
  • waiving of prepayment charges for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures ahead of the maturity date.

Mr Harley called on Bank customers suffering financial difficulty as a result of the flooding to contact their Commonwealth Bank branch manager.