Supporting customers in a time of need

Angus Sullivan, Group Executive of Commonwealth Bank’s Retail Bank, shares how the Bank is supporting its retail customers.

During these uncertain times, CBA has been working on a number of measures to provide immediate financial support for customers who have been affected by the coronavirus. These measures aim to relieve financial stress and providing customers with the necessary financial support to get them through the economic downturn felt around Australia and globally.

For people with home loans you are able to defer your loan repayments for 6 months.  

For new and existing home loan customers we’ve dropped our interest rates to our lowest ever advertised rate of 2.29% p.a for 1, 2 and 3 year terms, for owner occupied loans in our Wealth Package with principal and interest repayments. 

For our personal customers looking to earn interest on your savings, you are able to access a 12-month term deposit with 1.70% p.a. interest rate for balances between $5,000 and $2,000,000 for a limited time. This allows all Australians – and especially older Australians who rely on their savings income – to earn a fixed return.

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