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Commonwealth Bank reaffirms commitment to Victorian bushfire victims

The Commonwealth Bank today confirmed its total support for the victims of the Victorian bushfires and has reconfirmed that it has an emergency assistance package available for all of its customers affected by the fires.

“I am currently visiting the affected areas and seeing first-hand the devastation and distress caused by this disaster,” said the Bank’s Group Executive Retail Banking Services, Ross McEwan.

“I would to reassure our customers that the Commonwealth Bank staff on the ground in the affected areas and also our staff in our specialised assistance area set up to help customers affected by the fires are available to assist them in this time of distress.”  

Mr McEwan stated that some key features of the Bank’s assistance package included:

  • Deferment of home loan repayments for a minimum of three months during which no interest will accrue on these loans. The Bank will liaise direct with all affected customers after the initial three month period.
  • The waiving of any Early Repayment Adjustment charge for Fixed Rate Homes Loans where the home has been damaged by the fires and the customers are paying out their loan.  


Other features of the Bank’s special assistance package include:

  • loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees,
  • review credit card instalments for customers of good standing and consideration of requests for emergency credit limit increases,
  • expediting claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance,
  • waiving prepayment charges over the next month for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures ahead of the maturity date,
  • waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

 


ENDS

For more information contact:

Bryan Fitzgerald

Ph: 0414 789 649

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