Banks in Australia will offer support measures to customers in western Queensland and parts of New South Wales affected by heavy rainfall and flooding, including repayment deferrals and loan restructuring, according to a Wednesday release from the Australian Banking Association.
The measures include customized arrangements or deferrals of upcoming credit card payments or loan repayments, temporary overdrafts or emergency credit limit increases, restructuring of existing loans, waiver or refunds for fees and charges, and additional finance offers to help cover cash flow shortages.
The measures will be offered depending on individual circumstances.
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