Response to ABC Radio AM
12 February 2009
The Commonwealth Bank provides customers with a minimum three month moratorium on its mortgage repayments as part of its emergency rescue package.
However in times of disaster, the bank works with its customers on a case by case basis and this may include extending the repayment moratorium.
The Bank does not ask customers to pay interest in full following the mortgage repayment moratorium.
The Commonwealth Bank does not charge customers double interest should their mortgage facility fall into arrears.
We understand the distress our customers are going through and will continue to work with our customers to assist them through this trying time.