Guide on UCPB Loan 60-Day Grace Period Offer Amid COVID-19 Crisis
UCPB LOAN GRACE PERIOD – Here is a guide on whether or not there will be an accrued interest if you will avail the 60-day grace period.
Amid the COVID-19 crisis, the government approved the Republic Act No. 11494 or otherwise known as the Bayanihan To Recover As One Act (BARO). It is also called as Bayanihan 2.
The Bayanihan 2 includes loan moratoriums. A lot of people who lost their jobs amid the crisis do not only struggle on what to buy for food daily but as well as the bills and loans that must be paid.
The grace period offer under the Bayanihan covers 60 days. It is a one-time offer on loans and many banks were quick to comply to it – including the United Coconut Planters Bank (UCPB).
The UCPB loan grace period covers the different types of existing loans – auto loan, salary loan, home loan, and small business loan. Those clients who have updated accounts or with no past dues may avail the said loan moratorium offer.
The dues covered by the grace period are those falling on September 15, 2020 to December 31, 2020. Meanwhile, those who wanted to continue paying for their loan dues despite the qualification for the grace period may do so. It will prevent the adjustment of the loan term.
For those who wanted to avail the UCPB loan grace period, clients must be aware that there will be an accrued interest. Meanwhile, late payment fees and other charges will be waived.
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