Guide on UnionBank Loan Grace Period Offer Amid COVID-19 Crisis
UNIONBANK LOAN GRACE PERIOD – Here is a guide for UnionBank clients who does not want to avail the 60-day grace period offer.
A lot of people lost their jobs amid the COVID-19 pandemic. It is mainly because many businesses were not able to cope with the demands of the situation now.
Many people are already used to only going out for the essentials. A lot of businesses most especially those that are non-essentials incurred only expenses with no income at all for several months.
Unfortunately, many people who are financially struggling now, including both employers and employees, have loans to pay. To assist them, the government passed the Bayanihan 2 which includes loan moratorium.
Under the new law, qualified clients of certain banks may avail the 60-day grace period offer amid the crisis. Several banks were quick to issue guidelines in availing the grace period.
UnionBank is one of those that issued guidelines over the 60-day loan grace period. It covers those who have no past dues before September 15. However, clients who wanted to avail the said offer must be aware of the UnionBank loan accrued interest.
It is a one-time offer for qualified clients. A client will only have to pay one loan amortization once the grace period has lapsed and the loan term will be extended by 60 days.
Meanwhile, those clients who does not want to avail the UnionBank loan grace period may do so. The client must notify the bank about it on or before October 9, 2020. You may visit the bank branch nearest to you or email the bank at [email protected].
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