Providing a reprieve for Filipinos, utilities, banks, and insurance coverage firms supply extensions on funds. By MAAN D’ASIS PAMARAN
| Mar 29 2020
With commerce at a standstill due to the COVID-19 lockdowns, a number of firms have stepped as much as supply extensions on their funds. That is to maintain Filipinos centered on conserving themselves and their households secure and wholesome on this time of monetary disaster, the place the precedence goes to meals and drugs.
Extra on group quarantine dwelling:
Right here, we’ve got compiled a listing of firms offering fundamental utilities, together with banks and different monetary establishments which might be providing concerns for late funds and different simpler cost schemes.
Meralco assures that households and companies which might be open can have energy all through the length of the lockdown, with a 30-day cost extension for payments due from March 1 to April 14, 2020. All upkeep actions are additionally deferred except vital, to make sure that they’re #KeepingTheLightsOn for all their prospects in these making an attempt occasions.
Maynilad Water Companies and Manila Water Firm Inc. have suspended meter readings and onsite billing actions. Maynilad and Manila Water say their subsequent water payments issued to affected prospects shall be computed primarily based on common consumption previously three months. Corrections will simply be utilized to subsequent payments as soon as the businesses are capable of resume the precise studying of meters. Prime Water has additionally introduced that it’s going to supply a 30-day grace interval for his or her invoice funds.
Pag-IBIG Fund is providing a three-month moratorium for its member-borrowers, protecting the Pag-IBIG Fund Housing mortgage, Multi-Function mortgage, and Calamity mortgage debtors whose funds are due on March 15 till June 15. Members who’re dwelling in areas positioned below state of calamity due to the Covid-19 lockdowns can now additionally apply for Calamity Loans on-line. The calamity mortgage is payable inside 24 months and comes with the preliminary cost due on the third month after the mortgage launch.
Communications, Web, and Cable Companies
All SkyCable and Cignal Postpaid subscribers shall be given a 30-day cost extension from their invoice’s due date. Globe Telecom Inc., PLDT Inc. (PLDT Dwelling, PLDT Enterprise), Sensible Communications Inc., and Solar Mobile postpaid subscribers are given 30-day cost extensions on cell and broadband providers for payments due from March 15 to April 14, 2020.
Banks and different monetary providers
Financial institution of the Philippine Islands (BPI) affords a 30-day grace interval shall be given to certified bank card, private, residence, auto, and SME mortgage shoppers. At BDO Unibank Inc., prospects in good standing are given a 60-day cost extension on bank card, auto, residence, SME, and private loans with due dates of as much as April 15, 2020. A 60-day extension can be given to funds on BDO Life and BDO Insure.
Citibank bank card holders in good credit score standing with cost due dates from March 16 to April 12, 2020 are given a one-month extension with waived late charges. Metrobank has a 30-day grace interval for certified automotive loans, residence loans, and bank card funds. Late charges are mechanically waived and accounts which have been billed for late fees shall be reversed accordingly.
East West Banking Corp. Fee due dates for auto, private, mortgage, and EEL loans, and bank cards shall be prolonged for 30 days for eligible prospects. PSBank affords a 30-day grace interval on mortgage funds on certified auto, residence, and private mortgage shoppers.
Safety Financial institution Corp. prospects with no overdue stability on a bank card, residence mortgage, private mortgage, auto mortgage, enterprise mortgage mortgage, or enterprise mortgage due March 16 to April 14, 2020 shall be prolonged for 30 days. United Coconut Planters Financial institution extends the due date for LoanEasy shoppers for 30 days. The extension covers UCPB DrivEasy Auto mortgage, HomEasy Dwelling mortgage, SalarEasy Private mortgage, and BizEasy Enterprise Loans with due dates from March 19 to April 18.
Rizal Industrial Banking Corp. (RCBC) shoppers in good standing could decide to delay funds by 30 days from the unique due date for current auto, residence, private and wage loans. BPI-Philam Life Assurance Corp. Premium dues that fall inside March 1 to Could 31 could also be paid inside 60 days from the due date of coverage.
SunLife affords a grace interval for premium funds to 91 days, relevant for insurance policies and pre-need plans with due dates between February 15 to Could 31, 2020. FWD Life affords an extension of insurance coverage premium cost grace interval to 90 days for patrons with confirmed COVID-19 circumstances, and an extension of insurance coverage cost grace interval to 60 days for all different prospects. Protection is prolonged for coverage holders with COVID-19 circumstances for crucial sickness and dying advantages.
PruLife UK funds are given an prolonged grace interval with no curiosity fees for funds due March 16 to April 30. AXA Philippines is extending its cost grace interval from 31 days to 60 days for insurance policies due from February 15 to April 30, 2020 for all well being and life insurance coverage insurance policies (particular person and group). AXA World Well being Entry. As well as, AXA World Well being Entry insurance policies will cowl therapies and hospitalizations associated to COVID-19 till June 30, 2020 (topic to the shopper’s plan protection).
For extra info on the cost extensions and coverages, go to the official firm web sites. With extra firms making an attempt to ease the concerns brought on by the COVID-19 pandemic, it’s a good suggestion to make the most of these extensions and cost breaks and keep residence to be able to keep wholesome.