LIST: Banks’ grace period for card, loan payments amid coronavirus

Ralf Rivas
LIST: Banks’ grace period for card, loan payments amid coronavirus
Most banks offer a 30-day grace period for qualified credit cardholders as well as home, auto, and personal loan clients

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MANILA, Philippines – Philippine banks are offering a grace period for consumers amid the Luzon-wide lockdown due to the coronavirus pandemic.

Here are the terms of some of the biggest banks in the country:


BDO Unibank said it will provide a 60-day payment extension for qualified credit card, auto, home, small and medium enterprise (SME), and personal loan customers with due dates up to April 15.

Concerned customers will receive an email or text message from BDO regarding the payment relief.


The Bank of the Philippine Islands provided a 30-day grace period for qualified credit card, personal, home, auto, SME, and BanKo NegosyoKo loan clients.

InstaPay fees are also suspended for customers to send money to any bank free of charge.


Rizal Commercial Banking Corporation gave customers the option to delay payments by 30 days from original due date for existing auto, home, personal, and salary loan clients in good standing.

Qualified customers will receive a formal advisory. Loan clients may call 8555-8772 or 8555-8703 for more information.

Fund transfers via InstaPay through RCBC Online Banking will be free of charge until April 15. Transfers via PesoNet will be free of charge starting March 18, covering both individual and corporate clients. 


Philippine National Bank implemented a 30-day payment extension for all qualified credit card customers with due dates from March 18 to April 15.

InstaPay and PesoNet transactions will also be free until April 15.

Security Bank

Security Bank has extended payment due dates for credit cards and loans.

All customers with credit card, home loan, personal loan, auto loan, business mortage loan, or business express loan with the following conditions below will have their due date extended by 30 days:

  • Payment status is current (with no past due balance) as of March 16
  • Payment due date is between March 16 and April 14

This is applicable to customers nationwide. There will be no late fees.

All post-dated checks dated March 19 to April 14 will be held. The check will be posted on the next due date. If not funded, the account will not turn past due and penalties are waived.


Metropolitan Bank and Trust Company offered a 30-day grace period for qualified car loan, home loan, and credit card payments.

Qualified customers will be notified via email.

China Bank

China Bank customers with auto or housing loan amortizations due from March 15 to April 15 may be settled on the original due date or after 30 days without late fee or penalty.

Transfer fees were also waived.


PSBank offered a 30-day grace period on loan payments to qualified customers with auto, home, and personal loans.

Qualified clients are those with loan accounts that are updated or delayed by at most 30 days in payment.

Inclusive due dates covered by this arrangement are those accounts whose due dates fall between March 15 and April 14.

The 30-day grace period will cover all loan accounts nationwide. No need to sign any document, as qualified accounts will be adjusted in the system.


United Coconut Planters Bank provided relief to its LoanEasy clients by extending the due date of their loan payments for 30 days.

This covers UCPB DrivEasy Auto Loan, HomEasy Home Loan, SalarEasy Personal Loan, and BizEasy Business Loan clients with due dates from March 19 to April 18.

Citi Philippines

Citi credit cardholders in good credit standing get a one-month extension on their payment due date.

Cardholders with due dates falling between March 16 and April 12 have the option to skip a payment for a month without being charged a late fee.

Earlier payments can also be made through digital banking platforms. –

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.