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Major bank suspends loan repayments for flood victims

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Reporter 4 minute read

NAB has announced that it is suspending home and personal loan repayments and waiving the fees for customers affected by the recent floods in Tasmania.

As part of NAB’s disaster relief package, customers affected by the recent floods in Tasmania may qualify for:

• credit card and personal loan relief, where appropriate;
• suspending home and personal loan repayments;
• support to manage existing agribusiness bank facilities;
• waiving costs and charges for withdrawing term deposits early;
• waiving home loan and personal loan application fees;
• support to restructure other existing bank facilities; and
• provision of support and counselling by making NAB’s Employee Assistance Program available to customers.

Katrina Spark, NAB’s retail customer executive for Tasmania, commented: “It’s been a difficult time for people in Tasmania who have experienced storms and flooding, and our thoughts are with them.

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“Many people will be turning their attention to the challenging task of cleaning up and recovering in the coming weeks.

“We are here to support all NAB customers, employees and the wider community. Anyone who needs assistance or advice can contact us so we can discuss their circumstances and work out the best way to help. From staff who need time off to customers needing to take a break from their mortgage repayments, we are here to help.”

The bank has said that customers who need help with their finances can visit their nearest open NAB branch, contact their banker directly or call NAB Assist on 1800 701 599 (8am to 8pm, Monday to Friday; or 9am to 1pm on Saturdays AEST/AEDT).

Small business customers that need help can call 1300 961 577 while agri customers that need help can contact their banker.

[Related: ‘Uncomfortable times’ ahead in royal commission: NAB] 

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Major bank suspends loan repayments for flood victims
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