"Bayanihan to Heal As One Act" Implementation for
CTBC Bank Consumer Loan Clients
CTBC Bank remains committed to stand by you even during these challenging times and we would like to help you in managing your CTBC Bank loans by providing the payment options to your existing loans with the Bank.
In accordance with the requirements of the RA 11469 or the "Bayanihan to Heal As One Act" and its related implementing rules and regulations and Bangko Sentral ng Pilipinas Issuances, your CTBC Bank loan shall not incur interest on interest, fees and charges. However, interest charge on the outstanding principal balance shall still be in effect.
To maintain your good loan standing with the Bank, please be guided by the FAQs below:
QUESTION |
RESPONSE |
What are the inclusive due dates covered by the loan moratorium/grace period assistance? |
Period covered shall be amortization payments falling due from March 16, 2020 until the last day of the Enhanced Community Quarantine (ECQ) or Modified Enhanced Community Quarantine (MECQ). |
Who are qualified for the grace period assistance? |
Qualified are all Personal (Salary Stretch), Mortgage, SME, and Back-to-Back Loans clients. |
Are there any documents that we need to fill out and/or submit in line with this loan moratorium? |
No additional documents shall be required from loan clients availing of the loan moratorium/grace period. |
Upon availment of the moratorium/ grace period, will I be required to settle any of my deferred amortizations during ECQ/MECQ on my next due date? |
After lifting of ECQ/MECQ, only the scheduled monthly amortization payments for the month must be settled. We encourage you to update your account by paying your interest accrued as soon as possible.
If you choose not to avail of the moratorium/grace period, kindly settle all your amortizations due before the end of ECQ/MECQ. For any questions or inquiries, please feel free to get in touch with our: Asset Recovery Management
Customer Care Department
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Will availment of the loan moratorium/grace period affect my loan term? |
Yes, your loan maturity date will be extended depending on the number of deferred amortization payments, with corresponding interest accrual.
To illustrate: Loan Due Dates covered by the Grace Period: Three (3) months – March, April and May 2020 Loan maturity date (original): March 30, 2021 Extended maturity date (new): June 30, 2021 |
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What is accrued interest and how will it be applied?
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In accordance with the Implementing Rules and Regulations (IRR) under the "Bayanihan to Heal As One Act", interest shall accrue on the outstanding principal balance of the loan at the time of loan moratorium/grace period assistance.
If you would like to settle the accrued interest within the life of the loan after ECQ/MECQ, please get in touch with our Customer Care Department, Monday to Sunday, from 6:00 AM to 9:00 PM (Philippine Time) through:
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How much will be the rate for the interest that shall accrue? |
Prevailing interest rates at the time of loan moratorium shall be charged. |
What will happen to my post-dated check payments/automatic debit arrangement for due dates falling within the grace period?
? |
The Bank suspended posting of loan amortization payments via post-dated checks and auto-debit arrangements as of March 19, 2020.
You shall be required to submit another automatic debit instruction/additional checks in line with your current mode of payment to cover for the deferred payments as a result of the extended maturity date. |
How do I avail of the loan moratorium/grace period assistance? |
If you choose to avail of the moratorium/grace period assistance you may send an email with subject: TYPE OF LOAN | GRACE PERIOD ASSISTANCE AVAILMENT with your FULL NAME and LOAN ACCOUNT NUMBER, or contact:
Asset Recovery Management
Customer Care Department
|
I don't want to extend my loan term / I don't want to avail of the grace period, what should I do? |
You may opt out from availing of the grace period assistance by sending an email to [email protected] on or before July 24, 2020 with subject: TYPE OF LOAN | OPT OUT PAYMENT EXTENSION with FULL NAME and LOAN ACCOUNT NUMBER or contact us through:
Asset Recovery Management
Customer Care Department
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I have received a notification that I will be charged with interest accrual due to my deferred loan payments, but I left sufficient funds in my account prior to ECQ/MECQ for my scheduled payments via post-dated checks. Will I still incur accrued interest? |
Post-dated check payments were not deposited during ECQ/MECQ. If you wish to apply the payments due during the loan moratorium period, please get in touch with our Customer Care Department, Monday to Sunday, from 6:00 AM to 9:00 PM (Philippine Time) through:
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My loan amortization due last March 16, 2020 was debited from my account despite your advisory on loan moratorium. How shall the debited amount be treated? |
We would like to thank you for the timely payment of your loan. Rest assured that this will not incur interest accrual. |
I*/Our company** requested for reversal of payments made during ECQ/MECQ since I/we was/were inadvertently informed that I/we could avail of the Bank's loan moratorium without being charged any additional interest. Will the Bank still collect interest accrual from me/us? |
Yes, payment reversal may be done, however, corresponding accrued interest shall be charged at the end of the extended term. |
What if my outstanding loan is in past due status at the time of ECQ/MECQ, am I still qualified for the loan moratorium? |
Yes. The repayment of your past due account(s) shall resume upon lifting of the ECQ/MECQ.
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I do not know when I will be able to afford the repayment of my existing loan. What options do I have to update my account? |
To know more about the Bank's restructuring programs, please feel free to get in touch with our:
Asset Recovery Management
Customer Care Department
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What will be the impact of the non-payment on my account during the ECQ/MECQ period? |
Necessary adjustments will be made to ensure that your account remains in the same credit standing as it was prior to ECQ/MECQ.
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Are there any other payment channels where I can settle my loan? |
For Salary Stretch Personal Loan payments, you may settle in any of the following outlets:
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How can I reach the Bank in case of further queries or clarifications? |
You may contact us through:
Asset Recovery Management
Customer Care Department
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