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ASB offers relief to customers affected by Canterbury region flooding

ASB is supporting customers affected by the extreme weather event in Canterbury, offering tailored packages including suspension of home loan repayments as well as an emergency overdraft facility of up to $100,000 at a reduced variable interest rate of 2.95% p.a. for business and rural customers.

ASB Executive General Manager Business Banking Tim Deane says the bank will work closely with its customers during this stressful time and will fast track any requests for emergency assistance.

"After days of severe rain, power outages and families and businesses being forced to evacuate we know people are doing it tough, and that these challenges will continue long after the flooding subsides.

"ASB is here to help and while the immediate focus needs to be on safety, we encourage our farming, business and personal customers to get in touch with their ASB relationship manager, or our Financial Assistance team when they’re ready to talk through their options.

"We hope our relief measures will ease some of the pressure Cantabrians are facing, and we can come out the other side with businesses, families and communities ready to rebuild,” says Mr Deane.

ASB is supporting its farming, business, and personal customers on a case-by-case basis with a range of emergency assistance measures, including:

  • Option to suspend home loan principal repayments for up to three months.
  • Access to working capital of up to $100,000 at a reduced variable interest rate of 2.95% p.a. for business and rural customers.
  • Overdraft of up to $10,000 for ASB home loan customers and up to $2,000 for other ASB personal customers at a reduced variable interest rate of 2.95% p.a.
  • No fees on any new working capital facility required.

ASB's Ashburton branch is open. Any ASB customer who has been affected should call their relationship manager or ASB's Financial Assistance team on 0800 27 27 35 (option 3) between 8.30am and 5.00pm Monday to Friday. Alternatively, customers can email hardship@asb.co.nz.

More information and full terms, fees and charges can be found on the ASB website at asb.co.nz/page/flood-relief-package.

ASB's lending criteria and terms apply. Variable rates are subject to change. Fees and charges apply, refer to asb.co.nz.

Media Centre Media Releases ASB offers relief to customers affected by Canterbury region flooding