Assistance provided to people will vary
according to individual circumstances,
but could include:
• deferring home loan repayments;
• restructuring business loans without
incurring fees;
• giving credit card holders an
emergency credit limit increase;
• refinancing personal loans at a
discounted fixed rate;
• waiving interest rate penalties if term
deposits are drawn early; and
• deferring repayments on equipment
finance facilities.
‘Each and every financial situation
will be different, but be assured bank
relationship managers will talk to
customers about strategies to deal
with the floods,’ says Münchenberg.
The ABA also has a website, which
has information about hardship
arrangements for customers affected
by disasters, unemployment, illness
and other issues that cause financial
difficultie