The Commonwealth Bank of Australia (ASX: CBA) has activated its special emergency assistance package to help Victorian residents and businesses affected by flooding from regional Victoria.

"The Commonwealth Bank is concerned at the impact the rain and flooding has had on local residents and businesses," said the Bank's Group Executive Retail Banking Services, Ross McEwan.

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"We've put special arrangements in place for our customers, and our staff are ready to assist them promptly with their financial concerns and enquiries."

Key features of the Bank's special assistance package include providing tailored solutions and assistance to Commonwealth Bank home loan, and credit card and personal loan customers who may experience difficulties because of the flooding.

It also covers loan restructuring for business customers with existing loans, without incurring the usual bank establishment fees, and considering requests for additional loans where, based on our enquiries, the customer could meet the additional repayments without financial difficulty.

CBA said it will also expedite claims to CommInsure for customers seeking help through their home, contents and motor vehicle insurance. Prepayment charges will be waived over the next month for affected customers wishing to access term deposits, Commonwealth Investment Bonds and CBFC debentures ahead of the maturity date.

Branch service fees will likewise be waived where the customer is looking to obtain a service from the Bank as a result of the disaster.

"Our staff will be happy to discuss with customers their overall financial position, any change in repayment arrangements, or to consider options for additional loan funds," Mr McEwan said.

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