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The major bank has extended the availability of its $1,000 emergency grant in declared disaster areas of Central West NSW.
Following the expansion of its financial support to flood-impacted customers in the Riverland region of South Australia earlier this week (21 November 2022), NAB has made the emergency grant available for Central West NSW customers until 6 December 2022.
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NAB first introduced the grant in October 2022 to act as immediate financial relief for customers in the disaster areas of NSW, Victoria, and Tasmania in addition to the major bank’s existing flood relief options that include loan deferrals/reduced repayment arrangements, deferrals of upcoming credit card repayments, and waiving or refunding fees and charges.
This now marked the third time the major bank has extended or expanded the $1,000 emergency grant since October of this year.
The grants will continue to provide immediate access to funds for customers who have experienced major structural damage or internal damage to their primary residences.
Still eligible for the grants are business and agriculture customers who have suffered substantial damage to property, fencing, equipment, or the loss of livestock/stock.
However, these grants are not available for minor damage to homes or damage to personal items such as appliances, garages, sheds, gardens, or loss or damage to holiday homes or investment properties.
In addition, the major bank donated $100,000 to Disaster Relief Australia going towards funding “mud-army” recovery efforts and clean-up operations.
NAB executive retail regional NSW/ACT, Tony Story, stated that some flood-impacted communities continue to need the major bank’s assistance as weather conditions worsen.
“A number of communities in Central West New South Wales are still being impacted by the flooding and we’ll continue to help them get the support they need,” Mr Story said.
At the time of the grant expansion to South Australia, NAB group executive personal banking, Rachel Slade, stated: “We’re here to help customers, colleagues and their communities withstand and recover from natural disasters.
“Those who need assistance or anticipate financial hardship due to the impact of flooding, should contact us as soon as possible and we’ll talk through the best ways to help.”
The Commonwealth Bank of Australia (CBA), ANZ, and Westpac also opened similar financial relief options for their customers.
Furthermore, CBA opened offerings to Victorian broker partners who have been severely affected by the state’s recent flooding, allowing them to access a portion of their trail commission in advance.
[RELATED: NAB expands flood-relief offering to SA]
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