Australian Banking Association has updated that the Australia’s banks will be implementing a new phase of support customers to make repayment of the loans, as customers are nearing the end of six-month loan repayment deferral period.
Many customers have chosen to resume making repayments and the customers whose income is reduced or are facing financial difficulty because of COVID-19, they shall be contract as they approach the six months deferral period to ensure that wherever feasible they can return to repayments via a restructure or variation to their loan.
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