 Banks outline mortgage support for bushfire victims
Major corporations, including the Big Four banks, are offering more than $4 million to help Victoria's bushfire victims.
The National Australia Bank, Commonwealth Bank of Australia, ANZ and Westpac have donated $1 million each. Bendigo and Adelaide Bank, will use their Community Enterprise Foundation, to donate $100,000immediately. "Along with all Australians, we are shocked by the scale and impact of the situation,'' NAB chief executive Cameron Clyne said in a statement. "The bank is ready to provide practical assistance and we will work with our customers, staff and communities to provide relief.''
NAB and CBA announced they have established a relief fund of $1 million for bushfire victims. The emergency package will include additional loans or changes to repayments, and the banks will also waive establishment fees on restructured business loans for existing business customers. CBA say they will also consider increased credit limits on credit cards for those affected.
ANZ will donate $1 million to the Victorian bushfire appeal, and will also offer cash grants of $10,000 to customers who have lost their homes due to fires, and a grant of $5000 for customers who had partial damage to homes.
Westpac subsidiary, St George Bank will offer deferrals on home loan repayments and is donating $1 million to the emergency fund.
Telstra, Wesfarmers, Tabcorp, Fairfax Media and David Jones are also planning donations.
Coles is donating all of this Friday's profits and Bunning's will hold a sausage sizzle all week, donating all money raised to the appeal. Kmart and Target are also donating goods and vouchers.
Donations for the Victorian Bushfire Fund can be made at 1800 811 700
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