Australia has certainly copped it over the last 12 or so months. Between COVID, fires and floods, it’s amazing to me that the Australian economy has survived at all.
How you can pitch in and help
The latest natural disaster – as we know – are the shocking floods that occurred in Northern and Western New South Wales (NSW) just a week ago, with floodwaters only just starting to recede in places now.
How devastating for those who have lost homes and businesses, not to mention the massive cleanup that will need to take place over the next few months as we head into winter. If you’re in a position to help out those affected by the crisis, there’s plenty of ways you can pitch in.
Check out the Givit website to see how you can help.
Big 4 Bank’s emergency assistance for flood victims
Federal and state governments have already declared a natural disaster in 16 areas of NSW as of 22 March 2021 so it’s good to see that Australia’s four biggest banks have launched emergency assistance packages for households and businesses affected by the floods. If you or your family and friends have been affected by the floods and are a customer of one of the Big 4 Banks, give them a call and discuss your situation with them.
NAB’s disaster relief package
NAB customers can call NAB Assist on 1800 701 599 (8am-8pm Mon-Fri, or 9am-1pm on Saturdays AEST/AEDT) or visit nab.com.au/disaster. Some of NAB’s financial measures include:
- Providing credit card and personal loan relief
- Waiving application fees and charges for withdrawing term deposits early
- Waiving the application fee for restructuring business facilities
- Deferral of principal and/or leasing payments
- Providing access to complimentary, professional and confidential counselling.
ANZ’s financial support package
ANZ customers can contact ANZ’s financial hardship team on 1800 149 549 or at anz.com.au/support/natural-
- Pausing payments for up to three months on home loans, credit cards, personal loans and some business loans (the bank may still charge you interest during that period)
- Temporary interest rate reductions on lending for customers experiencing extreme financial distress
- Waiving fees for restructuring business loans
- Waiving fees for accessing term deposits early.
CBA’s Emergency Assistance
CBA customers can call 1800 314 695 for assistance. Further information is also available at www.commbank.com.au/
- Customised payment arrangements for your home loan, credit card or personal loan.
- Waiving fees and charges
- Temporary overdrafts, additional loans or emergency credit limit increases (subject to credit approval)
- Waiving fees and notice periods for early access to Term Deposits
- Other individual support options may also be available to you
- For CommInsure customers, CBA can assist with emergency accommodation if your home has been damaged
- Expediting claims to CommInsure for customers seeking help through their home and contents insurance.
Westpac’s Emergency Assistance Package
Westpac customers who need assistance can call Westpac Assist on 1800 067 497. Westpac’s emergency assistance package includes:
- Home loan customers may apply to defer repayments for up to three months
- Credit card customers can apply to defer repayments 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
- Waived interest rate adjustments for customers wishing to withdraw term deposits.
Our hearts go out to everyone affected by the floods so just to reiterate, please check out the Givit website to see how you can help.