The National Australia Bank has taken the extraordinary step of allowing personal home loan customers affected by the coronavirus crisis to pause their repayments for six months.

NAB's move comes minutes after the Australian Banking Association extended the same to small businesses – but omitted individual home loan customers.

NAB's package could provide a potential injection of more than $10 billion into the economy over six months, or $380 million a week, depending on customer needs and take-up.

National Australia Bank signage is seen at a branch in Adelaide, Friday, September 14, 2018. (AAP)

CEO Ross McEwan said the measure was all about helping Aussies keep their jobs.

"Businesses in particular need help and they need it now, so we have come through with a range of measures. This support will provide cash flow relief so they can stay open, and keep people in jobs," Mr McEwan said.

"One third of Australia's small to medium businesses bank with NAB and we are going to be there for them.

NAB's package could provide a potential injection of more than $10 billion into the economy over six months. (Getty)

"The changes also offer our home loan customers the option to fix their rate at our lowest rate ever, or pause payments to help ease financial pressures."

For the average Australian mortgage holder, this could mean almost $2000 a month in cash still in their pockets.

Homeowners could not pay a single mortgage payment in six months if they suffer hardship. (iStock)

FULL LIST OF CRISIS MEASURES FOR NAB PERSONAL CUSTOMERS:

Pause home loan repayments for up to six months, including a three-month checkpoint. For a customer with a typical home loan of $400,000, this will mean access to an additional $11,006 over six months, or $1834 per month.

Access a 10-month term deposit rate of 1.75 per cent p.a. for 10 months, effective March 24. This is for personal customers only, with deposits of $5000 to $2 million.

Access fixed home loan rates of 2.39 per cent p.a. for 1-year, 2.29 per cent p.a. for 2- and 3-year, and 2.79 per cent p.a. for 5-year (owner-occupier P&I), effective March 25. First home buyers will have access to a rate of 2.19 per cent p.a., fixed for two years. This delivers reductions of between 10 and 60 basis points.

Access over $20 billion in redraw and more than $30 billion in offset. Note: Around one in two accounts are at least six months ahead based on redraw and offset balance; and four in 10 are 12 months ahead.