Details About the Maybank Loan Payment Extension Amid the COVID-19 Crisis in the Philippines
MAYBANK LOAN PAYMENT EXTENSION – Maybank Philippines is offering an extension for the payment of loans amid the COVID-19 crisis in the Philippines.
A huge part of the Filipino population is currently on a financial crisis as a health crisis due to COVID-19 is present in the Philippines. Many cannot go to work and earn for their monthly expenses.
To curb the spread of the disease in the country, the government implements community quarantines. The movement of the people are limited and not all businesses may operate.
In fact, in areas under the Enhanced Community Quarantine (ECQ), most non-essential businesses temporarily stopped their operation. Under the General Community Quarantine (GCQ), still, not all businesses are allowed to fully operate.
Amid the COVID-19 crisis, several companies including banks find ways on how to ease the financial struggle of the people. One of these banks is the Maybank Philippines.
Those who have loans with the said private bank may avail the Maybank loan payment extension offer. It is in line with the “Bayanihan To Heal As One Act” launched by the government to fight the crisis.
The Maybank loan payment extension offer covers due dates from March 12, 2020 to May 15, 2020. According to the bank, the offer is automatically applicable to home, auto, and personal loans, both current and past.
Maybank noted that the late payment penalty, interest on interest, and other fees and charges are waived under the offer. The Automatic Debit Arrangement (ADA) is currently suspended.
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