CBA - COVID 19 Support
9 July 2020 - Home Loan Deferral Extension
Today we're launching the next phase of our support measures to help customers financially affected by the Coronavirus crisis to progressively return to full mortgage and loan repayments.
Customers who have already deferred their home loan repayments may be able to defer their loans for up to an additional four months if they are still experiencing financial difficulty and are unable to recommence their repayments.
We will be contacting all customers on the deferral plan to see if they are able to resume payments. For customers who needs further support, we'll determine whether they are eligible for an extension of up to four months on a case by case basis. Alternatively, we will assess if we can better support them through another assistance option, such as Interest Only repayments for 12 months.
This initiative is aimed at ensuring customers who are able to make loan repayments do so, allowing support to be directed to customers who need further financial assistance and will take longer to recommence repayments.
CommBank is proud to have provided close to $15 billion in direct financial support to our customers and stimulus to the economy since March 2020.