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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