ASB Provides Relief to Customers Affected by Flooding in Canterbury Area
ASB is supporting clients affected by the extreme weather event in Canterbury, offering tailor-made packages including suspension of mortgage payments as well as an emergency overdraft facility of up to $ 100,000 at a rate of $ 100,000. Variable interest reduced by 2.95% per annum for businesses and rural customers.
ASB Executive Managing Director Tim Deane said the bank will work closely with its customers during this stressful time and expedite any request for emergency help.
“After days of heavy rain, power outages and families and businesses forced to evacuate, we know people are doing things hard and that these challenges will continue long after the floods are over.
“ASB is here to help and while the focus should be immediately on safety, we encourage our agricultural, business and personal customers to contact their ASB relationship manager or our financial support team when they are ready to. discuss their option.
“We hope that our relief measures alleviate some of the pressure the Cantabrians are facing, and we can come out on the other side with businesses, families and communities ready to rebuild,” Deane said.
ASB supports its farmers, businesses and individuals on a case-by-case basis with a series of emergency aid measures, in particular:
- Possibility of suspending the repayment of the principal of the mortgage for up to three months.
- Access to working capital of up to $ 100,000 at a reduced variable interest rate of 2.95% per annum for commercial and rural customers.
- Overdraft up to $ 10,000 for ASB mortgage customers and up to $ 2,000 for other ASB individual clients at a variable interest rate reduced by 2.95% pa
- No charge on any new working capital facility required.
ASB branch in Ashburton is open. Any ASB customer who has been affected should call their account manager or ASB’s financial support team on 0800 27 27 35 (option 3) between 8:30 a.m. and 5:00 p.m. Monday to Friday. Customers can also send an email to [email protected]
More information on Flood Victim Assistance and full conditions, fees and charges can be found on the ASB website at https://www.asb.co.nz/page /flood-relief-package.html
ASB’s loan criteria and conditions apply. Variable rates are subject to change. Fees and charges apply, see asb.co.nz.
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