NAB - COVID 19 Support
8 July 2020 - COVID-19 – option to extend existing loan deferrals for business and home loan customers
NAB will provide the option to extend existing loan deferrals for business and home loan customers affected by COVID-19 by up to four months, ending no later than 31 March 2021.
As a major bank, we play a critical role in providing support to customers. While a significant portion of businesses and homeowners have started their repayments again, we know there are many who are doing it tough and still need our help for a bit longer.
The extension will not be automatic and will be provided on a case-by-case basis.
Please note that your trail commission for residential and commercial lending won’t be impacted by the loan repayment deferral.
Getting in touch with our customers
NAB will contact customers who deferred their loan repayments to talk about their individual circumstances and the options that are appropriate for them, including loan restructure, additional hardship assistance or further deferral. This contact may include SMS, outbound calling and letters.
We continue to encourage customers who can begin repayments to do so as soon as they can as this is in their best interests.
What you need to do
If you have a NAB customer who has deferred their business or home loan repayment due to COVID-19, let them know that NAB will be in touch with them before they are due to recommence their repayments. There is nothing they need to action at this time.
If your customer is experiencing hardship and would like to contact NAB:
For home loan customers – ask them call NAB Assist on 1300 683 106
For commercial customers – advise them to contact their NAB Business Banking manager.
Further support :If you have any questions, please contact your BDM or visit nab.com.au/coronavirus