Clients of Maybank Loans May Avail 60-Day Loan Moratorium Amid the COVID-19 Pandemic
MAYBANK LOANS – These accounts to Maybank Philippines are covered by a 60-day grace period in compliance with the Bayanihan 2.
The Philippines is one of the countries hit by the COVID-19 pandemic. In response to it, the government approved the second part of the Bayanihan To Heal As One Act.
Unfortunately, a lot of people are struggling financially now amid the COVID-19 crisis. Many lost their jobs as several businesses closed due to the impacts of the pandemic.
PH is under community quarantine measures for several months now. Everyone is encouraged to stay at home if not for the very essential purposes. These are all for a good intention of ending the COVID-19 pandemic but it also has effects on businesses.
Due to having no income for several months and incurring only expenses, many businesses closed. A lot of employees lost their jobs and employers lost their source of income as well.
Undeniably, some of these individuals have loans to pay. To address and ease the struggles of the people, the Bayanihan 2 includes the mandate of a grace period on loans.
Maybank loans are among those covered by a 60-day grace period now in compliance with the Bayanihan 2. According to the private bank, it is applicable to the current and updated loan accounts.
The Maybank loans covered by the 60-day grace period must have due that falls between September 15 and December 31. To avail the said loan moratorium, the client must inform the bank including those who have automatic debit arrangement (ADA).
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