Guide on BDO Loan Payment Extension Offered by BDO Unibank Amid COVID-19 Crisis
BDO LOAN PAYMENT EXTENSION – Here is a list of the loan types covered by the grace period implemented by BDO Unibank amid the crisis due to COVID-19.
One of the biggest challenges amid the COVID-19 crisis in the Philippines is the challenge to cope with the monthly expenses. Truths be told that everyone has expenses but not everyone has an income right now.
The Enhanced Community Quarantine (ECQ) had to be implemented to curb the spread of coronavirus. In line with its implementation, several non-essential businesses had to temporarily stop their operation.
The ECQ was implemented in the entire Luzon and most parts of Visayas and Mindanao. Thus, a lot of people lost their monthly income. Unfortunately, some even had no jobs to return to after the ECQ as many businesses closed.
To help the public and in line with the Bayanihan To Heal As One Act, several companies delayed the payments for loans. These firms include banks as a lot of people in the Philippines have bank loans.
BDO Unibank also implements a BDO loan payment extension. Based on its official website, the grace period covers the following type of loans:
- BDO Home Loan
- BDO Auto Loan
- BDO Personal Loan
- BDO SME (Business) Loan
According to the bank, a client may avail up to three (3) months of BDO loan payment extension since the ECQ and Modified ECQ measures were from March 17 to May 31, 2020. If you availed the grace period, your loan term will be adjusted.
With regards to borrowers who have Automatic Debit Arrangement (ADA), the said payment method was automatically cancelled and resumed starting June 1. For this month, BDO Unibank is set to deduct a one-month loan amortization from the account.
For unpaid loans by July, there will be accrued interest. The bank encourages its clients who have loans to pay their dues in full before June 30, 2020 to avoid additional accrued interest.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
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I have kabayan card i ask if i apply for personal loan
I was avail the said Bayanihan to Heal As One Act. Due to pandemic. Ang tanong ko bakit nahold ang payment namin? Parang lalo lang nagpahirap ito sa matatapos na naming bayarin..
Due to the hardship of pandemic our house is on force closing letter agrrement already. Is there anyway to settle?
We stopped our SMDC condo payment last March 2021 up to the present. May we know the total arrears?
The loan is under the name of my daughter Perla Corazon P. Rivero. Acct. No. 529217010548
Thanks.