Customers still struggling to make loan repayments due to COVID-19 will be offered deferral extensions of up to four months, but they will not be automatically granted, Australian banks announce.
expected to coincide with the scheduled withdrawal of Federal Government support measures, including the JobKeeper wage subsidy and the JobSeeker coronavirus supplement.
"Where these arrangements are not in place at the end of a six-month deferral, customers will be eligible for an extension of their deferral of up to four months," Ms Bligh said. "APRA has also provided relief to encourage the banks to restructure loans where possible as a way of helping these customers."Australia's major banks said many customers who deferred their loans at the beginning of the crisis had already started paying them back, although others — including those in Victoria who were going back into lockdown — would need more help.
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