Guide over UnionBank Loans 60-Day Grace Period Offer
UNIONBANK LOANS – Here is a guide on whether or not there is an accrued interest if you will avail the 60-day grace period offer for your UnionBank loan.
Amid the COVID-19 crisis in the Philippines, the national government approved the Republic Act No. 11494 or the Bayanihan To Recover As One Act. It is also called as the Bayanihan 2.
The said new law includes loan grace period to aid those who have loans to pay amid the crisis. It is a 60-day grace period that covers due dates between September to December 2020.
UnionBank is one of those that comply with the grace period offer under Bayanihan 2. The said offer covers both loans and credit card bills within the period.
Clients who will avail the 60-day grace period on their UnionBank loans will not be charged of late payments or charges. However, clients must be aware that there will be an accrued interest.
The accrued interest is the interest on “unpaid outstanding balances” on UnionBank loans. It will be billed on the next due date of the client or after the grace period is over.
Do you want to know how much you will have to pay after the 60-day grace period has lapsed? You may visit – UnionBank Loan Grace Period: Do I Need To Pay 3-Month Due on December?
If you have a credit card with UnionBank, you may also be qualified for a 60-day grace period offer. To check which charges are waived, feel free to visit – UnionBank Fees & Charges On Credit Card Accounts Under 60-day Grace Period.
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