The bank’s staff will also provide additional support for those in need through its local branches.
Mortgage customers will be able to apply for a repayment holiday for up to two months. For new customers joining TSB, mortgage advisers and brokers will work with customers and understand their individual position.
For the bank’s other customers, those with a credit card can request an emergency credit limit increase and account holders can apply for an increased cash withdrawal limit for up to £500 or more.
Insurance customers will have access to pop-up Aviva command centres in affected areas and savings customers can waive early closure fees on Fixed Rate ISA products or surrender the policy to their Fixed Bond to gain access to their money.
Robin Bulloch, customer banking director at TSB, said: “Our thoughts go out to those people in England and Wales who have been affected by the flooding. At TSB, we understand that times like these can be extremely hard – emotionally, physically but also financially.
“By offering support to our customers, we hope to help alleviate any concern they have with their financial commitments so that they can concentrate on more important issues at hand.”