National Australia Bank (ASX: NAB) says it would increase its donation to the Premier's Disaster Relief Appeal to $350,000 and will now provide $650,000 to local communities affected by Australian floods.

NAB is also matching any donation made by any NAB employee to the Premier's Disaster Relief Appeal. In addition to this, NAB will allocate $1 million of capital to further support its microfinance program, operating in the flood affected area.

"Our customers and our employees need our help and our support at this time, and we have put in place a range of measures to provide immediate relief to those affected," said NAB chief executive Cameron Clyne.

"Like all Australians our thoughts are with those who have been personally affected.

"We encourage any affected customers to contact us so that we can discuss what would be the most assistance to them at this time," Mr Clyne said.

NAB said it will continue to monitor the situation in Queensland regarding support to customers, staff and local communities.

The bank said all flood affected NAB customers will be given additional assistance through suspending home loan repayments, waiving fees and costs for withdrawing term deposits early, waiving home loan and personal loan application fees, providing existing customers with access to low 'honeymoon' home loan rates and waiving the application fee to change to another loan at expiry, waiving the establishment fee for restructuring business loans, credit card and personal loan relief where appropriate and support to restructure other existing bank facilities.