BDO Unibank said Wednesday it was offering a 60-day payment extension on loan payments for qualified clients to help them cope with the COVID-19 lockdown.
The extension will cover credit card, auto, home, SME and personal loan customers with due dates of up to April 15. Qualified clients will be notified via email and SMS, the Philippines’ largest lender said.
The Bank of the Philippine Islands announced earlier on Tuesday that it will extend the payment for its consumer loan services.
The bank advised it was “extending a 30-day grace period for qualified credit card, personal, home, auto, and SME loan clients to help ease the burden during these trying times.” Qualified clients will be notified via email.
Other banks in the country such as Security Bank, Union Bank, East West Bank, and Rizal Commercial Banking Corporation also made similar announcements of 30-day grace periods for some of their loan products.