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Customers struggling with home loans due to drought will be given extra help from one major lender.
NAB has announced a Drought Assistance Package to support customers enduring prolonged drought conditions across New South Wales and Queensland.
Measures that may be available to eligible customers include waiving home loan and personal loan application fees, as well as suspending home and personal loan repayments.
Other measures include the extension of loan terms, consideration of loan repayments to interest only and the waiver of all associated extension/restructure fees.
The package also includes credit card and personal loan relief where appropriate, waiving costs and charges for early withdrawal of term deposits and the provision of support and counselling through NAB’s Employee Assistance Program.
Customer executive regional and agriculture, Julie Rynski, said it has been a difficult time for people in the affected areas, who are facing severe drought conditions.
Rynski said, “As Australia’s largest Agribusiness bank, we are acutely aware of the challenges and unpredictability of life on the land and the impact of drought on NAB customers, employees and the wider community.
“Anyone who needs assistance or advice should contact their local banker so we can discuss their circumstances and determine the best way to help.”
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