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What is QandA - Bayanihan Act 2.grace Period.081320 about?

The Bayanihan Act 2 provides a one-time 60-day grace period for loan payments due between September 12, 2020, and December 31, 2020, during which no late payment penalties or finance charges will be applied. Borrowers can choose between this grace period or a specific discount program, but cannot avail of both simultaneously. If the grace period is chosen, any previously granted discounts will be invalid, and full outstanding balances must be paid after the grace period ends.

Author

tristan tongson

Language

EN