Extra Support for Customers Affected by Severe Weather (Repayment Deferral, Overdrafts & More) @ ASB, BNZ, Kiwi Bank

EDIT 1:
Given the extreme weather events, a few banks are offering extreme weather support.
See below for the link for each participating banks for their services and T&Cs.

ASB - https://www.asb.co.nz/page/extreme-weather-support.html
BNZ - https://www.bnz.co.nz/contact/emergency-and-disaster-support
Kiwi - https://www.kiwibank.co.nz/help/accounts/financial-support/f…

ASB

• A loan repayment deferral for up to 3 months. No home loan repayments are made for 3 months, but interest is still calculated and added to the loan, increasing the outstanding loan balance.
• Interest Only for 3 months. This is where home loan principal payments are suspended, and customers make repayments to cover the interest accrued. The outstanding loan balance remains unchanged.
• Waiver of Early Repayment Adjustment fees* when repaying a fixed rate home loan, where a home is destroyed or suffered major damage as a result of the natural disaster. *These may be waived at a reasonable level, maximum $2,500.
• Immediate consideration of requests for emergency credit card limit increases.

Accessing Term Investment Funds:

• ASB will waive the up to 2% interest adjustment applied to early Term Deposit breaks, i.e. our customers will receive our standard interest rate (at the time the investment was made) for the completed term.
• ASB will waive the 0.5% break charge for early withdrawal on Term Funds.

BNZ

• Reviewing home lending facilities on a case-by-case basis.
• Access to temporary personal overdrafts if you require funds urgently while you wait for insurance pay-outs. Standard interest rates and credit criteria applies.
• Access to temporary overdrafts up to $10,000 for small business customers, with no application fee. Standard interest rates and credit criteria applies.
• Access to temporary overdrafts up to $100,000 for agribusiness, business, and commercial customers, with no application fee. Standard interest rates and credit criteria applies.

Kiwi Bank

Home loans

• Reducing your repayments to the minimum
• Changing to interest-only repayments
• Repayment deferral

Investments

• Early access to some of your Term Deposit or Notice Saver funds
• KiwiSaver hardship withdrawal

Credit cards

• Reducing your repayments
• Changing your card type if your card has a higher interest rate compared to other credit cards we offer.

Everyday banking

• You may be able to access an emergency relief loan for essential needs, up to $1,000 for up to one month at 0% p.a. interest. Eligibility criteria applies.