Banks assist bushfire victims

All of the four major banks have offered assistance packages to those people affected by the recent bush fires in New South Wales.

Below is a summary of what each of the banks is offering its affected customers:

ANZ

  • Suspension of all loan repayments for 3 months.
  • Nil establishment fee for restructuring business loans.
  • The waiver of early withdrawal costs for term deposits.
  • The revision of temporary lending limits where appropriate.

Commonwealth Bank

  • Nil establishment fee for restructuring business loans.
  • Suspension of home loan repayments.
  • Suspension of credit card repayments.
  • Credit card credit limit increase where appropriate.
  • The waiver of penalty costs for the early withdrawal of term deposits.

National Australia Bank

    Suspension of home loan repayments.

  • Nil application fees for home and personal loans.
  • Giving existing customers access to “honeymoon” rates – usually only new customers can receive a “honeymoon” rate.
  • Discounted rate of 6.5% on a fixed rate personal loan.
  • Nil establishment fee for restructuring business loans.
  • The waiver of penalty costs for the early withdrawal of term deposits.

Westpac

  • Nil application fee for personal loans combined with a discounted rate of 6.5%.
  • Discounted standard variable home loan rate of 4.25% for the first 12 months.
  • Suspension of home loan repayments for up 3 months.
  • Nil establishment fee for restructuring business loans.
  • Suspension of next month’s credit card repayment.
  • Credit card credit limit increase where appropriate.
  • The waiver of early withdrawal costs for term deposits.
Advertisement