For customers who have relationships with both CBA & NC
I have separate credit facilities with both banks, will the loans be merged?
The loans shall continue to operate under their current terms and condition. Should you wish to amalgamate both loans into one for ease of management, we can make these arrangements.
I have separate credit facilities with both banks, how will my credit life insurance be handled?
Each credit life policy shall continue to run until expiry of each loan.
If I would like to amalgamate my loans, what should I do?
If you wish to amalgamate the loans, visit any branch or contact your Relationship Manager. You will be required to complete a form indicating the period you wish to pay the loan for. The period should not be more than that of the loan with the longest tenure.
Will the Credit Life policies be amalgamated together with the loans?
A new insurance policy will be taken out for the new amount/tenure with the agreed underwriter and any unutilized amount for the previous covers will be refunded back to you.
Can I take a top-up with the amalgamation of the loans?
Yes, you can. However, a fresh financial analysis will be conducted to ascertain your ability to service the new loan.
If I have secured facilities, can I consolidate them?
Yes, you can. However, a fresh financial analysis will be conducted and a decision made on the level of security required for the combined amount.
Can I consolidate my loans if they are of different types e.g. personal loan and mortgage?
No, the consolidation will only apply for similar types of loans. Any other requirement will require fresh financial analysis for consideration.
For customers who have relationships with either CBA & NC
Will my loan account number change?
No. Your loan number will remain the same.
What will happen to my interest rate on my existing loans?
The existing interest rate will prevail and any change will be notified to you with a 30-day notice.
Will my payment due date change?
No. Your payment due date will remain the same.