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Lenders open financial assistance for Cyclone Kirrily

Lenders have begun offering emergency assistance for those impacted by extreme weather events in North Queensland.

In response to Tropical Cyclone Kirrily hitting the North Queensland coast on 25 January, the Commonwealth Bank of Australia (CBA) and Suncorp Group have opened up financial assistance for impacted customers and communities.

The CBA Emergency Assistance includes a range of support for customers such as customised payment arrangements for home loans, credit cards, personal loans, and some business loans; waiving fees and charges along with notice periods for early access to term deposits and temporary overdrafts; additional loans; or emergency credit limit increases.

Additionally, the major bank is offering emergency accommodation for customers who have taken out home insurance (subject to policy terms and conditions); loan restructuring for business customers and existing loans; and waiving fees for temporary and damaged merchant EFTPOS terminals along with support with merchant terminal fees.

CBA’s retail banking services group executive Angus Sullivan said: “Our thoughts are with those in Queensland who are affected by the impacts of Tropical Cyclone Kirrily, and we are here to support our customers and employees.

“We are offering customers a range of tailored support options and our website has the most up-to-date branch and service information.

“Thanks go to the hard-working emergency services teams who are helping communities needing assistance.”

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In addition, Suncorp Group announced that impacted customers can lodge insurance claims online from any of its insurance brands including Suncorp Insurance, AAMI, Apia, and Shannons.

Suncorp Group chief executive consumer insurance Lisa Harrison said the insurer’s teams were waiting to respond and urged Queenslanders to prepare and get themselves to safety.

“Weather events can be life-threatening which we’ve tragically already seen this disaster season, so please, continue to listen to the authorities and make sure you have your emergency plans in place,” Ms Harrison said.

“As we saw with Jasper, the severity of the system was realised after the event due to the heavy rainfall and flooding which caused significant damage, and it’s possible this could also be the case with Cyclone Kirrily.

“We are closely monitoring the situation and have teams right across the country on standby to respond. Once it is safe to do so we will be on the ground to support our customers.”

She added that Suncorp’s customer support teams are on hand to support face to face and are there to arrange emergency repairs and help organise temporary accommodation for customers with severe home damage.

[RELATED: NAB extends flood relief to Victoria]

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