FAQ: 30-day Grace Period for Car, Home Loan clients
In fulfillment of our Meaningful Banking promise, we are providing some assistance to our valued customers as we believe that health and safety should now be the primary focus of everyone. Here’s a list of frequently asked questions to guide you further:
- Am I qualified for the 30-day Grace Period program?
All Metrobank Car Loan and Home Loan clients with payment due date from March 16 to April 15, 2020 are qualified.
- Will I be charged a late payment fee?
You will NOT be charged a late payment fee if you are unable to pay your amortization due from March 16 to April 15, 2020. Any loan-related late payment fee that will appear on your account will be waived or reversed.
- I already issued post-dated checks (PDCs) for my loan payments. When will my check be deposited?
Post-dated checks dated March 19 to April 15, 2020 will be deposited on your next due date together with the regular amortization. For example, if you have a PDC dated March 25, it will be deposited on April 25 together with your April 25 PDC.
- What will happen if I have an auto-debit arrangement (ADA) for my loan payments?
Auto-debit from your account will be turned off effective March 20, 2020. We will just debit your amortization on your next due date together with your regular amortization.
- I got a system generated email regarding the payment of my loan. Do I still need to pay?
No, it is a system-generated email message. Please disregard this message during the period of the enhanced community quarantine.
For more updates on the enhanced community quarantine guidelines, click here.
