Clients May Avail Grace Period on Maybank Credit Card Dues Amid COVID-19 Crisis
MAYBANK CREDIT CARD DUES – The bills for Maybank credit cards are under a 60-day grace period in compliance with the Bayanihan 2.
The impacts of the COVID-19 pandemic has cause a lot of people financial struggles. Many businesses were not successful at thriving amid the demands of the crisis.
For several months, business operations were limited or, if allowed, incurring only expenses with no income. Undeniably, the pandemic has brought a lot of changes to people’s lives and many are only after the essentials now.
Due to having no income for several months now and incurring only expenses, many businesses closed. A lot of employees lost their jobs as well amid the COVID-19 crisis.
To help the people cope with pandemic, Bayanihan 2 was approved. Loan moratoriums are part of the new law. Several banks were quick to make announcements on their offers to clients.
Apart from a loan moratorium, Maybank credit card dues are also under a 60-day grace period now. It can be availed by clients with updated accounts and whose due falls between September 15 to December 31, 2020.
According to Maybank, it is a non-extendable grace period. Also, the bank will be applying an accrued interest and it is payable on the next due date after the grace period.
Aside from banks, several government agencies also announced the grace period on loans. Different banks and agencies got different options and terms with regards to the accrued interest during the availment of the grace period.
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