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What happens if I defer my loan repayments?

Based on your circumstances, you can defer your loan repayments for an agreed time. If you choose to do this, interest and fees will still be added to your loan balance during that time.

Once the deferred period finishes, we’ll work with you on a plan to repay the amount you’ve deferred. This might involve increasing your minimum repayments for the deferred period, or extending the term of your loan.

When your arrangement ends, the following options are available:

  • You can repay any outstanding repayment amount, if any
  • You can make a repayment plan to pay any outstanding arrears over an agreed period of time
  • We can recalculate the repayments of the loan maintaining your existing loan term
  • We can extend the term of your loan
  • We can convert your principle and interest loan to interest only for 12 months
  • We may consider a further deferral period of up to 4 months, if we can establish reasonable grounds that you will be able to resume repayments within the further deferral period. (Interest will continue to be charged)

As always, we’re here to help discuss your options and how they’ll affect you.

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Before taking up any of Delphi Bank's products or services you should consider if they are appropriate for you. Delphi Bank recommends that you read the respective Terms and Conditions and other Disclosure Documents before deciding to acquire or use any of the Bank's products or services. These documents can be obtained at any of our branches or on this website.
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