Here is the latest City Savings Bank Advisory FAQs: DepEd Salary Loan Payment Resumption, know more of this advisory by reading below.
As of June 9, 2020 The City Savings Bank releases an Advisory which is a Frequently asked Questions (FAQs) regarding to the DepEd Salary Loan Payment Resumption.
1. Am I required to pay in June 2020 all loan payments that were granted a 30- day grace period in April and May 2020?
Answer: No. BSP Memorandum No. M-2020-042 specifies that the amortizations will be rescheduled in accordance with the 30-day grace period. In effect, the last payment due date of the loan is extended by a period equivalent to the grace period granted for the duration of the ECQ.
2. What are the payment options for interest accrued during the moratorium period?
Answer: Under the BSP Memorandum No. M-2020-042, you may choose from the following payment options:
• Pay in lump sum,
• Pay in staggered for the remaining term, or
• Pay at the last payment due date
3. Will there be an additional interest if I am not able to pay the accrued interest accumulated within the moratorium period?
Answer: No. The Bayanihan Act prohibits all BSP – Supervised Financial Institutions (BSFIs) including banks to charge and collect interest on interest. Hence, if your accrued interest during moratorium period is computed as Php 1,000.00, only the amount of Php1,000.00 shall be collected which can be paid either in lump sum, staggered, or at the end of your loan term.
4. Will the 30-day mandatory grace period under the Bayanihan Act still apply to my loan and/to interest payments falling due until May 31, 2020 even if the new due dates will fall on or after June 1, 2020?
Answer: As long as your due date falls on or before May 31, 2020, the 30-day mandatory grace period under the Bayanihan Act shall continue to apply to your loan and/or interest payments.
5. Where can I pay my incurred interest during the moratorium period?
Answer: You can pay over the counter at any of our accredited collection channels:
- City Savings Bank branches
- M.Lhuillier Kwarta Padala branches
- PeraHub branches
- UnionBank of the Philippines branches
6. Where can I inquire for more details about my loan account?
Answer: You can visit the nearest CitySavings branch to ask about further details of your account. We will be happy to assist you.
SOURCE: City Savings Bank
YOU MAY ALSO DOWNLOAD MOST ESSENTIAL LEARNING TEACHING MATERIALS
- Complete daily lesson log DLL G1-6
- Complete PowerPoint Lesson Plan G1-6
- Complete Learning and Teaching Materials for Junior – Senior High
- Contextualize Lesson Plans for Kinder, Grades 1-10
- MELC’s for All Subjects
Be the first to be informed, Please like our Facebook Page here
Disclaimer: This post is created for information, education and dissemination purposes only, NO copyright infringement intended, for more questions and inquiries contact us at [email protected]