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The Commonwealth Bank (CBA) has announced an emergency assistance package for its customers affected by the Victorian bushfires after coming under fire by the government for failing to suspend interest charges.
As part of the package announced yesterday, CBA customers affected by the fires will have their home loan repayments deferred for at least three months, during which time no interest will accrue on the loans.
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After this period the bank said it would assess each customer’s situation individually.
The move came after customers had complained they would still be charged interest on deferred loans, The Australian reported. today.
According to the daily treasurer Wayne Swan spoke with the bank to ensure it was treating its customers appropriately considering the tragic circumstances.
