Bank of Melbourne today announced a relief package to assist customers who are suffering hardship as a result of the bushfires in Great Ocean Road area, Victoria.
Bank of Melbourne's Disaster Relief Package offers immediate financial help to customers affected by the bushfire.
“Our thoughts are with the Surf Coast Shire community and all Victorians affected by the Great Ocean Road bushfires. We're helping alleviate the financial commitments of impacted customers, so they can focus on more important things at this difficult time" said Bank of Melbourne Chief Executive Scott Tanner.
The Disaster Relief Package offers:
- Affected customers with Bank of Melbourne home loans may apply to defer repayments for up to three months.
- Affected businesses with existing loans can request loan restructuring without incurring the usual bank establishment fees.
- Affected credit card customers may request an emergency credit limit increase.
- Affected credit card customer may apply to defer repayments to their card for up to 90 days.
- Customers wishing to purchase replacement goods may apply for a personal loan at a discounted interest rate with no establishment fee.
- Bank of Melbourne will waive interest rate adjustments for affected customers wishing to withdraw term deposits.
- Affected Bank of Melbourne customers with Home and Contents insurance may be eligible to receive assistance including emergency funds and temporary accommodation.
Customers experiencing severe hardship will also be offered a halt on all interest accrual on unsecured credit products for a period of up to three months.