Banks offer emergency relief to Queensland flood victims

Thursday 13 January 2011 @ 9.00 a.m. | Trade & Commerce

As reported in smh.com.au, Australia's big banks will freeze mortgage repayments for up to three months for home owners hit by Queensland's devastating floods.

Many lenders will also offer emergency increases to credit card limits and allow some to make early withdrawals of term deposits to get access to funds.

Those moves came as analysts predicted the floods were likely to cause a rise in bad loans because of defaults.

Click here to read the full story in smh.com.au

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