27/04/2020
📣📣📣FOR TFSPH CLIENTS📣📣📣
PAYMENT ADVISORY
Updated as of April 24, 2020
We, at Toyota Financial Services Philippines Corporation fully understand our customers’ concerns especially during this difficult situation. We are further extending assistance by improving the guidelines on the 30 day payment extension.
The 30-day payment extension will start from March 18 until May 15, 2020. No penalty interest shall be charged to all qualified accounts due to the delay in payment for the period covered.
Qualified customers no longer need to pay twice the monthly amortization on the next due date. Maturity dates of the qualified accounts will be moved by one (1) to two (2) month/s whichever is applicable.
Who are qualified?
All active, current and past due accounts which will fall due within the Enhanced Community Quarantine (ECQ) period will be entitled to a 30-day payment extension. This applies to all accounts nationwide.
Payment Due on the next Due Date
Customers must pay the regular monthly amortization on the next due date. No need to pay double on the next due date. Maturity dates of the qualified accounts will be moved by one (1) to two (2) month/s whichever is applicable.
Example 1:
Due dates within ECQ period: March 18, 2020 and April 18, 2020
Original Maturity Date: March 18, 2024
New Maturity date: May 18, 2024
March 18, 2020
No Payment
April 18, 2020
No Payment
May 18, 2020 up to May 18, 2024
Regular Monthly Payment
Example 2:
Due dates within ECQ period: April 15 2020 and May 15, 2020
Original Maturity Date: September 15, 2024
New Maturity date: November 15, 2024
April 15, 2020
No Payment
May 15, 2020
No Payment
June 15, 2020 up to November 15, 2024
Regular Monthly Payment
Customers may opt to make advance payments to shorten the entire loan term.
Payments through Auto-Debit
Accounts enrolled through the Auto-Debit Payment method will not be charged/debited within the ECQ period. However, accounts will be automatically debited after the ECQ period.
Auto-debit arrangement will be automatically adjusted to cover the new maturity due date.
Payments through Post Dated Checks
Post Dated Checks issued within the ECQ period will not be deposited. PDCs should be funded on or before the next due date after the ECQ period.
Customers may need to submit additional check/s to cover the new maturity due date.
Paid Accounts prior to the announcement of the extension
Unfortunately, payments received prior will not be credited back to accounts.
