Eligible customers on parental leave will have the option of a reduction of up to 75% on their home loan payments for six months.

To meet the requirements, customers need to be on parental leave, or going on parental leave in the next month.

Applicants will also be assessed on whether they can make a minimum repayment of at least 25%.

NAB Assist Executive Stephanie Boag said this initiative will help many new families challenged by the rising cost of living.

“Having a child or adding to the family can be a shock, not only in terms of the sleep deprivation, but also when it comes to making ends meet,” Ms Boag said. 

“When a parent on parental leave gets in touch with us to flag concerns about meeting their financial commitments, we’ve decided as a team to offer reduced payments on their home loan with no need to check back in with us for six months.    

“We’re hoping this will give them more time to enjoy their new family and a clear path to get back on track sooner.”  

The support is available to eligible home loan customers on principal and interest or interest only home loans.

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Update resultsUpdate
Filters
LenderHome LoanInterest Rate Comparison Rate* Monthly Repayment Repayment type Rate Type Offset Redraw Ongoing Fees Upfront Fees LVR Lump Sum Repayment Additional Repayments Split Loan Option TagsFeaturesLinkCompare
6.04% p.a.
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Variable
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$0
80%
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6.51% p.a.
$2,589
Principal & Interest
Variable
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$530
90%
Important Information and Comparison Rate Warning

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of . View disclaimer.

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