23/05/2020
ATTENTION DEAR CLIENTS/CAR OWNERS NA NAKA LOAN PA!
Explanation for ECQ PAYMENT EXTENSION
Hi ma ' am / sir,
Plano to the mandated policy of Central Bank of the Philippines under RA No. 11649 Solidarity to Heal As One Act,
WILL NOT PAY:
If client can't pay MARCH, APRIL, and there is only something to pay for monthly, your bank has ACCRUED INTEREST. Meaning, you will avail an ECQ PAYMENT EXTENSION with interest that you can pay until your loan ends / or after your loan.
WILL PAY:
If you pay for the months affected by ECQ like MARCH, APRIL & MAY, you don't have ACCRUED INTEREST to pay since you can pay for three months. Monthly continues without interest
IF ECQ PAYMENT IS CHECKED DATED
If you have posted-dated cheques mode of payment. All cheques for the said affected months were ON HOLD. Call your bank, email to say that the check has funds that it can be dropped after ECQ. It's important to call immediately to not have "penalty charges" on your checks.
IF "ADA" or AUTO DEBIT IS THE PAYMENT DATED OF ECQ
If you are wearing auto debit, make sure you will CALL your banks and send an EMAIL immediately so you can inform them that your account is funded. They can now debit it with your consent. Some banks hold a deduction on the debit account
ACCRUED INTEREST
Interest per bank is different, their policies are different. Some people are extended but with little interest, some people are just small interest so it's better if you call your bank immediately after ECQ
ANY MORE QUESTIONS?
If it's not clear, you can call CUSTOMER SERVICE hotlines of banks so you will be more clear.
Thank you and Stay safe!
** Disclaimer **
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