Guide on UnionBank Fees & Charges Amid 60-Day Grace Period on Credit Card Bills
UNIONBANK FEES – Here is a guide on the fees and charges that UnionBank is set to implement on credit card accounts availing the 60-day grace period.
The COVID-19 pandemic has greatly affected the financial situation of several households. Unfortunately, amid the crisis, many people who are breadwinners of their families lost their jobs.
The entire country is under community quarantine measures for several months now. These measures are part of the efforts to curb the spread of the COVID-19 disease.
However, along with the pandemic, many businesses can operate but do not generate income. For several months, they only incurred expenses with no income thus were forced to close.
The closure of many businesses led to a lot of employees losing their jobs. Some of them have loans and credit card bills to pay. To help the people, the Republic Act. No. 11494 or the Bayanihan To Recover As One Act was approved.
The said new law includes loan moratoriums and as well as grace period on credit card bills. However, those who wanted to avail it must be aware of the accrued interest and fees.
UnionBank offers the grace period for credit card dues falling between September 15 to November 14. Accounts that were approved by the bank from September 15 onwards are not allowed to avail the offer.
With regards to the UnionBank fees and charges for credit card accounts that will avail the 60-day grace period, here is a guide:
UnionBank Fees & Charges on Credit Card Accounts Under Grace Period
- Cardholders who settle their Total Statement Balance in full (1 month prior to the covered period) will not be charged of the following:
- late charges
- finance charges
- interest on interest
- UnionBank credit cardholders who settle their Minimum Amount Due or less than the Total Statement Balance (1 month prior to the covered period) will not be charged of the following:
- late charges
- finance charges
- interest on interest
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