Worried about your car payments being overdue during the enhanced community quarantine period? Worry not as several banks have already released extensions for loan payment deadlines. These extensions range from anywhere from 30-days all the way to 60-days depending on the bank and if you are eligible for it.
Asia United Bank (AUB)
AUB is implementing a 30-day grace period for its loan clients. These clients include those who have loans for motor vehicles, personal, Salary, and seafarers. Credit cardholders under the bank will also get the same extension period.
Banco de Oro (BDO Unibank)
BDO is providing a 60-day payment extension for those who are qualified that have loans in the following categories, Auto, Home, SME, and Personal. These will apply for customers with due dates of up to April 15, 2020.
Bank of the Philippine Islands (BPI)
BPI has released an advisory stating that it will be extending a 30-day grace period for qualified accounts that have a credit card, persona, home, auto, and BanKo Negosyo ko clients. This is how the bank is lending a helping hand during these trying times.
China Bank Savings (CBS)
CBS has stated that there will be no late fees or penalty charges for its customers who have a good credit standing for their auto, housing, salary, and personal loans. These apply to those who are qualified and have monthly amortization payments due from March 17 to April 17, 2020.
Similar to that of other banks Eastwest has announced that it will be extending its loan payment deadlines by 30-days for its eligible customers. This extends to those who have auto, personal, mortgage, and EEL loans. The extension also applies to those who also have credit card bills to pay.
Land Development Bank (LDB)
LDB is providing its qualified good credit standing clients with a 30-day payment grace period. This covers those who have monthly amortizations due dates falling between March 15 and April 15, 2020.
It will be giving a 30-day extension period for its qualified clients who have auto/car loans, mortgage/home loans, personal loans, and salary loans. Credit card holders who are eligible will also be getting a 30-day extension.
Similar to that of other banks Metrobank will be offering its qualified clients a 30-day extension period for those who have auto/car loans, mortgage/home loans, personal loans, salary loans, and credit card bills. These apply only to clients who have payments due between March 16 to April 15, 2020.
Philippine National Bank (PNB)
PNB has yet to release a statement about loans and specifically about car loans but the bank has given a 30-day extension for the payment of all PNB credit cards. This does, however, only apply to those who have no late feels and who are qualified accounts. The extension is given to those with eligible accounts with due dates from March 18, 2020, to April 18, 2020. That bank also states that applicable finance charges will still be in effect. PNB is, however, waiving its fees for online fund transfers for its Instapay and PesoNet transactions until April 15, 2020.
A 30-day grace period for auto loans, home loans, and personal loans have been given to PSB banks eligible clients. PSbank also states these loan payment deadlines will be moved a month from their original due date if the original due date happened to fall during the enhanced community quarantine period.
In its official statement, RCBC says that “Auto, Home, Personal, and Salary Loans with due dates within March 15 to April 15 can delay payments by 30 days from the original due date.” The bank clarifies that this extension only applies to its qualified clients who have a good credit standing.
The bank is giving out a 30-day extension for eligible clients that have housing loans, auto loans, personal loans, motorcycle loans, and credit card payments that were due from March 16 to April 15, 2020. Similar to other banks this isn't for everyone and only applies for those who have good credit standings.
It is extending its payment schedules for Credit Cards and loans to all customers who are qualified and have a good credit standing. These apply to those who have personal loans, auto loans, business mortgage loans, and business express loans. There are, however, certain conditions for the extension that include that the payment status is current and with no past-due balance as of March 16, 20202 and that the payment due date is between March 16, to April 14, 2020.
United Coconut Planters Bank (UCPB)
Just like the rest of the banks on the list will be extending its loan payment deadlines by 30-days. This applies to its client base that has UPCB DrivEasy Auto loans, HomEasy Home loans, SalarEasy Personal loans, or BizEasy Business loans that have due dates from March 19 to April 18, 2020.
The bank is advising that its clients with Auto Loan, Real Estate Loan, and Cash Loan will have an extension of 30 days in their loan payment as Bank assistance during the enhanced quarantine period. These extensions will only be given to those who are qualified and have a good credit standing.
The bank will be providing a 30-day payment extension for auto and home loans to accounts with due dates that fall between March 17 to April 15, 2020. These apply to those that are active and do not have any past due payments.