A non-major bank has joined Commonwealth Bank and
Westpac and announced a disaster relief package for NSW homeowners and business owners affected by the storms last week.
The St.George Bank disaster relief package will allow affected home loan customers to defer repayments for up to three months, as well as allowing customers wishing to purchase replacement goods to apply for a personal loan at a discounted interest rate with no establishment fee.
Affected St.George customers with Home and Contents insurance may also be eligible to receive assistance, including emergency funds and temporary accommodation
Affected credit card customers may request an emergency credit limit increase or may apply to defer repayments to their card for up to 90 days. Further, the non-major will waive interest rate adjustments for affected customers wishing to withdraw term deposits.
The disaster relief package also offers assistance to affected businesses, allowing existing business loan customers to request loan restructuring without incurring the usual bank establishment fees.
Customers experiencing severe hardship will also be offered a halt on all interest accrual on unsecured credit products for a period of up to three months.
“Our thoughts are with all those who have been affected by these storms, especially across the Newcastle & Hunter regions,” general manager St.George retail banking, Andy Fell said.
“St.George understands that times like these can be difficult, not only emotionally, but financially. We are extending support to our customers to help alleviate any concerns they have with their financial commitments, so that they can concentrate on their safety and well-being.
“We are fast-tracking insurance claims and our assessors are ready to assist all customers in the worst affected areas.”
