The Australian Government has announced a JobKeeper assistance payment to help keep more Australians in jobs. As part of the initiative, some businesses impacted by Coronavirus (COVID-19) will be able to continue paying their employees by accessing the wage subsidy from the government. This supports businesses and allows employees to keep being paid.
1 The NAB JobKeeper Overdraft is subject to NAB’s eligibility and lending criteria. Terms and conditions, and restrictions/exclusions apply. NAB reserves the right to withdraw the offer of the NAB JobKeeper Overdraft at any time.
NAB’s eligibility criteria include the following:
- The NAB JobKeeper Overdraft is available to existing NAB Business and Private Banking customers whose business has been detrimentally impacted by COVID-19.
- Applicants must have enrolled for the Government’s JobKeeper payment scheme and provide a copy of their Australian Taxation Office (ATO) JobKeeper application receipt.
- Applicants must have an existing NAB business transaction account.
- The business name and ABN on the ATO JobKeeper application receipt must match the trading entity that holds the existing NAB business transaction account.
- Applicants must have been meeting their financial commitments, including repayments and any covenants or conditions with NAB or other financiers.
Restrictions/exclusions include the following:
- JobKeeper assistance must not have been provided by other financiers.
- Self-managed super funds are excluded.
2 Interest rate current as at 28 May 2020 and subject to change.
3 Find out more about the NAB Business Everyday Account ($0 monthly fee), and also see:
This product is issued by National Australia Bank Limited ABN 12 004 044 937 AFSL and Australian Credit Licence 230686 (NAB).