Guide on Security Bank Salary Advance Loan Payments Amid COVID-19 Pandemic
SECURITY BANK SALARY ADVANCE LOAN – Here is a guide on whether or not this Security Bank loan offer is covered by the 60-day grace period under Bayanihan 2.
The government recently passed and approved the Republic Act No. 11494 or the Bayanihan to Recover As One Act (2). This new loan got several provisions to aid the different sectors of the government and the individual people in coping with the demands of the pandemic.
Amid the COVID-19 crisis, a lot of individuals lost their jobs after several companies closed. The current situation in the country has greatly affected the operations and income of many companies.
Under the Bayanihan 2, grace periods were mandated to help the people who have loans to pay amid the COVID-19 crisis. Several banks have already released announcements in compliance with the new law.
Security Bank is one of the banks that released an announcement. It is offering a 60-day grace period on loan amortizations that fall between September 15, 2020 to December 31, 2020.
According to the bank, the loan interest and as well as the accrued interest will apply amid the grace period offer. Loans that were approved last September 14 may avail the grace period.
With regards to the Security Bank Salary Advance Loan, it is also covered by the 60-day grace period offer. According to the bank, the booking date must be before September 15.
Furthermore, to avail the said grace period for the Security Bank Salary Advance Loan, the account must be updated or with no past-due balance. The request for availment must be submitted two days before the loan payment due date.
Should you wish to avail it, you may visit – www.securitybank.com.
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