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22 January 2008

Westpac announces disaster relief for victims of floods in central QLD

Westpac today announced it had extended its special disaster relief package to assist customers seriously affected by floods in central Queensland, including Emerald, Longreach and surrounding areas.

"Our thoughts are with everybody affected by the floods in central Queensland," Westpac General Manager, Consumer Financial Services Queensland, Ben Elliott said.

"Westpac understands how natural disasters like this can affect our customers' financial circumstances and we have put together a package which offers practical help by providing some immediate financial relief."

Westpac's Regional General Manager, Regional and Agribusiness Banking, Queensland, Rod Kelly, said affected business and agribusiness customers should contact their Relationship Manager to discuss the package.

"We understand the impact these floods can have on our customers' financial circumstances and we will be working closely with them to help them through this difficult period," Mr Kelly said.

Last week, Westpac announced a disaster relief package for customers who were seriously affected by floods in north Queensland.

The relief package offers:

• Affected customers with Westpac 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 customers with Westpac personal loans can apply to refinance their loan at a discounted fixed interest rate.
• Westpac will waive interest penalties for affected customers wishing to withdraw term deposits.
• General insurance assessment and decisions will be fast tracked.