Banks offer assistance

Two banks have offered assistance to customers on the Peninsula affected by the New Years Day bushfires, with one bank offering $10,000 to a family who lost their home.

Westpac and ANZ have both offered their assistance following the fires.

Both banks offered to suspend repayments on loans, to waive fees associated with restructuring loans and early withdrawal of term deposits, and to temporarily adjust lending limits.

ANZ offered cash assistance and a range of other measures to support customers whose homes had been destroyed by bushfires as part of the ANZ Bushfire Assistance Package, which was available to all customers who had been impacted by bushfires during summer.

The package included a $10,000 cash grant for mortgage customers whose home, stock and machinery had been totally destroyed or a $5000 grant to mortgage customers whose homes or farms had been partially destroyed through structural damage to their home or amenities.

ANZ media relations manager Ms Kim Gilliland said ANZ did provide a grant to a customer who lost his family home in the fire.

Westpac also offered a special disaster relief program to assist customers seriously affected by bushfires on the Central Coast.

Affected customers with Westpac home loans may apply for a reduced interest rate for 12 months.

Credit card customers may ask to defer their next credit card payment.

Customers with Westpac personal loans can apply to refinance their loan at a discounted fixed interest rate.

"We understand how situations like this can affect our customers' financial circumstances and at this time they do not need the additional burden of worries over financial commitments," said Westpac's Head of Branch Sales and Services Rob Ewin.

Press releases, January 3 Paul Edwards, ANZ; Julia Quinn, Westpac