Amid COVID-19 lockdown, PH banks offer grace period for loans

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Top Philippine banks have offered grace period for consumer and small and medium enterprise loan clients, giving them leeway during the month-long lockdown of Luzon amid the COVID-19 pandemic. | Philbizwatcher

The country’s largest lender BDO Unibank offered the longest grace period of 60 days, covering credit card, auto, home, SME and personal loan customers with due dates of up to April 15, 2020.“We understand that the current situation makes it difficult, even impossible, for everyone to make their payments,” BDO said.

Bank of the Philippine Islands , Metropolitan Bank and Trust Co., Philippine Savings Bank, Security Bank, East West Bank, Rizal Commercial Banking Corp. are among those that have offered loan payment extension of up to 30 days for all qualified consumer loans.

 

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