16 November, 2016

Westpac offers financial support for quake-hit customers

Westpac is offering a range of options to help ease the weight for consumer and business customers impacted adversely by this week’s earthquakes.

Among the options offered are:

Consumer customers
• The ability to change their home loan to interest only for up to 6 months or extend the loan term (up to 30 years) without incurring a fee.

• A personal emergency overdraft of up to $500 for non-home loan customers, and $5,000 for home loan customers for 45 days (may be extended for a further 45 days at rollover)
• Home loan customers with an existing limit/buffer can take a repayment holiday (refer to policy).
• Immediate withdrawal for Term Investments and Notice Saver Products as our hardship policy allows for costs incurred through natural disasters
• Break cost fees waived on Term Investments for customers who need to access their funds early.

Business customers
• Temporary overdraft up to $10,000 for a period of 45 days, with a further 45 day rollover available.
• Defer payments of business credit cards for 90 days and possible emergency limit increases
• Suspend principal loan repayments on term facilities for a maximum 90 days

Impacted customers are urged to call the contact centre (0800-400-600), their relationship manager or visit a branch.

The financial support package is effective from today with terms and conditions and Westpac lending criteria applying.

Up to date information on branches and ATMs in areas impacted by the earthquakes can be found here.