Login
ISCOVER
NAB, ANZ, and Westpac have made financial assistance offers available to flood-affected customers in Western Australia’s Kimberley region.
The major banks have encouraged customers who are experiencing financial hardship as a result of the flood to contact and discuss the range of financial relief measures available.
In this round of relief measures, NAB is offering its customers loan deferrals or reduced payment arrangements for loans (home, personal, and some business loans), deferring upcoming credit card payments as well as waiving and/or reducing fees and charges such as merchant terminal fees or early access fees to term deposits.
NAB had also previously offered a $1,000 grant to act in conjunction with the bank’s existing flood-relief assistance across various areas of the country for customers who had been severely affected by major structural damage or internal damage to their properties or homes.
This included agricultural customers who experienced damage to property, equipment, fencing and loss of stock and/or livestock.
ANZ is offering similar financial relief measures, including short-term payment relief on home loans, personal loans, credit cards, and certain business loans; waiving fees for restructuring business loans; and waiving fees for early term deposits.
Westpac is offering up to three months of deferred payments for home loans and business loans, 90-day deferrals for credit card repayments, early withdrawals for term deposit funds without interest rate reductions, businesses with existing loans may request restructuring without usual bank establishment fees and business customers with merchant facilities are eligible to receive assistance, which includes monthly terminal access fee refunds for up to three months.
The Commonwealth Bank of Australia (CBA) has also extended its Emergency Assistance services to flood-impacted customers in the Kimberley region.
CBA’s Emergency Assistance offered its customers customised payment arrangements for home loans, credit cards, and personal loans along with temporary overdrafts, certain fees and charges waived, and emergency accommodation for customers who have taken out Home Insurance distributed by CommBank.
NAB acting retail executive, David Banks, said these measures are intended to provide immediate financial support and reassurance to flood-impacted customers.
“Communities in the Kimberley and Fitzroy Crossing regions are currently experiencing the largest flood event in the state’s history,” Mr Banks said.
To continue reading the rest of this article, please log in.
Looking for more benefits? Become a Premium Member.
Create free account to get unlimited news articles and more!
Looking for more benefits? Become a Premium Member.
“Heavy rain caused by ex-tropical cyclone Ellie has cut off many communities in these areas and major flood warnings remain in place with further flooding expected — we are here to help.”
ANZ general manager Western Australia, Kathleen Jahour, stated: “We are thinking of those impacted by the flooding across the Kimberley and are here to help our customers who need our support.
“We have a range of measures that we can immediately put in place to support businesses and individuals, including short-term payment relief on a range of products, such as home loans and some business loans.”
[RELATED: CBA expands flood assistance to Kimberley region]
JOIN THE DISCUSSION