The Commonwealth Bank has announced an emergency assistance package for customers and businesses affected by flooding on the NSW South Coast and Illawarra area.
Commonwealth Bank’s Ross McEwan said, “We are concerned at the impact the rain and flooding has had on local residents and businesses in the Shellharbour, Bombala, Kiama and Bega local government areas. As a result, we have put special arrangements in place to provide support to our customers should they need it, and our staff are ready to assist them promptly with their financial concerns and enquiries.”
Key features of the Bank’s special assistance package include:
1) providing tailored solutions and assistance to Commonwealth Bank home loan, credit card and personal loan customers who may experience difficulties because of the flooding;
2) considering requests for additional loans (including emergency credit limit increases) where, based on our enquiries, the customer could meet the additional repayments without financial difficulty;
3) expediting claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance;
4) 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 and;
5) waiving branch service fees where the customer is looking to obtain a service from the Bank as a result of the disaster.

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