Bayanihan to Recover as One Act (Bayanihan 2), designated as Republic Act No 11494, is a Philippine law granting the President additional authority to combat the COVID-19 pandemic in the country. The law grants customers a one-time 60-day grace period for all loans with principal and/or interest falling due during the covered period. It also relieves customers of late payment fees and interest on interest.
Announcements
Feb 24, 2023
Credit cards
The Bayanihan to Recover As One Act (RA11494) covers the payment extension of BPI and BPI Family Credit Cards nationwide. This covers current accounts. It grants customers a one-time 60-day grace period and a waiver of late payment fees and interest on interest.
Covered Areas
Nationwide
Covered Period
The one-time 60-day grace period shall cover Statements of Account with due dates falling within the period of September 15, 2020 to October 19, 2020.
What is the Bayanihan to Recover As One Act?
Who are covered in the Bayanihan to Recover As One Act?
BPI Credit Cardholders, including BPI Corporate Cardholders, and BPI Family Credit Cardholders nationwide whose account status is updated/current as of September 15, 2020 may choose to avail of the 60-day grace period.
Cardholders whose account status is past due are not covered under this program.
How can I avail of the 60-day grace period?
To avail of the 60-day grace period, you need not pay for your credit card bill on your scheduled due date until after 60 days from your Statement of Account within the covered period.
What is the covered period?
The one-time 60-day grace period shall cover Statements of Account with payment due dates falling within the period of September 15, 2020 to October 19, 2020. Once the 60-day grace period has ended, payment due dates in November and December will resume as scheduled.
Can I still settle my credit card bill and not avail of the 60-day grace period?
You may continue to pay for your credit card bill as scheduled through our available payment channels. In this case, no adjustments or waivers would need to be made to your account.
Personal Loans
In compliance with the Bayanihan to Recover as One Act, R.A. 11494, otherwise known as Bayanihan 2, all BPI Personal Loan accounts which are current (not past due) as of September 15, 2020, with payment due dates falling from September 15, 2020 to December 31, 2020, are eligible to avail of a one-time 60-day grace period on loan payments subject to the following terms and conditions (the “Bayanihan 2 Grace Period Program”):
1. All eligible BPI personal loan customers who want to avail of the 60-day grace period must opt-in and submit their requests through this online enrollment page on or before October 31, 2020.
2. Availment of the 60-day grace period shall have a corresponding loan maturity date extension equivalent to the availed grace period.
3. The auto-debit arrangement through BPI will be suspended during the 60-day grace period. This means that the account will not be debited on the said period.
4. The personal loan will not incur any late payment charges during the 60-day grace period.
5. Due to the payment deferrals, there will be a corresponding accrual of interest on the unpaid principal portion of the loan which shall be added to the loan’s outstanding balance. Any remaining amount resulting from the deferment of the loan payments during the grace period shall be deducted in full together with the last monthly amortization.
6. The collection of payment via auto-debit arrangement through BPI, equivalent to a one (1) month amortization, will resume on the next scheduled due date right after the 60-day grace period.
7. All submitted opt-in requests for availment under the Bayanihan 2 Grace Period Program shall be subject to further verification prior to processing. An email or SMS advice will be sent to the customer to confirm eligibility or non-eligibility for processing.
8. The online opt-in request, once submitted, shall be irrevocable and shall commit the BPI personal loan customer to avail of the Bayanihan 2 Grace Period Program.
Covered Areas
Nationwide
Covered Period
For payment due dates falling within the period of September 15, 2020 to December 31, 2020
What is the Bayanihan To Recover As One Act?
Bayanihan to Recover as One Act, designated as Republic Act No. 11494, is a Philippine law granting the President additional authority to combat the COVID-19 pandemic in the country. The law grants customers a one-time 60-day grace period for all loans with principal and/or interest falling due during the covered period. It also relieves customers of interest on interest, penalties, or fees during the covered period.
Who are covered in the Bayanihan Act 2?
BPI personal loan customers nationwide whose accounts are current (not past due) as of September 15, 2020, and whose payment due dates fall within the period of September 15 to December 31, 2020 are eligible to avail of the one-time grace period on loan payments subject to the Bayanihan 2 Grace Period Program terms and conditions mentioned above.
What is the period covered for the Bayanihan Act 2?
This covers payment due dates falling within the period of September 15, 2020 to December 31, 2020.
What does the one-time 60-day grace period mean?
The one-time 60-day grace period means you may opt not to pay the monthly loan amortization for two (2) consecutive loan payment due dates for your personal loan, subject to the Bayanihan 2 Grace Period Program terms and conditions mentioned above.
Can I avail of a 30-day grace period instead of 60 days?
No, the Bayanihan Act 2 prescribes a one-time 60-day grace period, applicable to your personal loan.
Auto and Housing Loans
In line with the issuance of R.A. No. 11494, otherwise known as the “Bayanihan to Recover as One Act” last September 15, 2020, BPI Family Savings Bank is granting a one-time 60-day grace period.
1. The 60-day grace period is open to all current BPI Family Auto Loan and Housing Loan accounts (i.e., not past due as of Sept. 15, 2020), with payment due dates falling from Sept. 15 to Dec. 31, 2020.
2. Eligible BPI Family Auto/Housing loan clients who want to avail of the 60-day grace period must notify the bank through the prescribed channel, and is given until November 15, 2020 to do so.
If there is no request or confirmation to avail on or before November 15, 2020, then regular payment collections shall remain in effect and the corresponding auto-debit schedule shall proceed.
3. During the 60-day grace period, payment collections for the Auto or Housing Loan will be suspended. No late penalty fees or interest-on-interest will be charged, while the unpaid loan principal shall continue to accrue interest.
4. After the 60-day grace period, payment collections (through auto-debit) will resume. The amount to be collected is equivalent to a 1-month amortization only, which already includes the accrued interest, or a portion thereof, from the unpaid months.
5. The maturity date of the loan shall correspondingly be extended by a period of 60 days.
Covered Areas
Nationwide
Covered Period
For payment due dates falling within the period of September 15, 2020 to December 31, 2020
How to Avail of the Grace Period
BPI Family Auto/Housing Loan clients may submit their intent to avail of the 60-day grace period through our Bayanihan-2 60-day Grace Period Confirmation Form.
After November 15, 2020, the Bayanihan-2 Confirmation Form shall be deactivated, and shall no longer be able to accept requests to avail of the 60-day grace period.
1. Fill out our Bayanihan-2 Confirmation Form and provide all the requested information.
2. In the last field, please choose the monthly due dates when the payment grace period will be applied:
a. September - October
b. October - November
c. November - December
Example:
| Client's Due Date | 21st of the month |
| Chosen Period | October - November |
| Due Dates to be Suspended | October 21, 2020 and Nvember 21, 2020 |
| Next Payment ( Auto-Debit) Date | December 21, 2020 |
3. After clicking "Submit", you will immediately receive an auto-generated email from bpiloans@bpi.com.ph. This contains your agreement to the Terms & Conditions of the 60-day grace period.
4. All submitted requests will undergo verification. Afterwards, an SMS will be sent to your declared mobile number and will serve as your official confirmation that the 60-day grace period shall be applied to your loan account.
5. Once the 60-day grace period ends, payment collection will resume on your next scheduled due date. The amount to be collected is equivalent only to a 1-month amortization, which already includes the accrued interest, or a portion thereof, from the unpaid months.
6. The maturity date of your loan shall be extended by the corresponding number of months that your payment due date/s had been suspended.
Who can avail of the 60-day grace period provided under Bayanihan-2?
The one-time grant of a 60-day grace period prescribed under the Bayanihan-2 is applicable to all BPI Family Auto/Housing Loan accounts, with payment due dates falling from Sept. 15 to Dec. 31, 2020, that are in current status (not past due) as of September 15, 2020.
Do I need to submit documents to avail of the one-time 60-day grace period?
No, there is no need to submit any document. You only need to confirm your intent to avail of the 60-day grace period here.
After November 15, 2020, this link shall be deactivated and shall no longer be able to accept Bayanihan-2 requests.
Why do I need to confirm my intent to avail of the 60-day grace period?
To ensure your understanding of and consent to the terms and conditions, as well as the correct application of your desired effectivity date, you need to confirm your intent to avail of the 60-day grace period before any adjustments are done on your loan account. Availing of the 60-day grace period will result in an extension of your loan maturity date, and collection of accrued interest.
You may also view the details of the Implementing Rules and Regulations of the Bayanihan to Recover as One Act here.
Can I still avail of the 60-day grace period if my payment due date has already lapsed or taken effect?
For payment due dates falling within the period from Sept. 15 to Oct. 5, 2020 (which already lapsed or took effect as of this writing), you must submit your intent to avail of the 60-day grace period through our Bayanihan 2 Confirmation Form.
1. If your account remained unfunded or unpaid for due dates Sept. 15 to Oct. 5, we will only apply the 60-day grace period after we have received your request through the Bayanihan 2 Confirmation Form. You have until Oct. 15, 2020, to submit your request. Otherwise, your account will be treated as past due and late payment charges will be applied.
2. If payment had already been made for due dates Sept. 15 to Oct. 5, and you sent us a request to avail of the SEPT-OCT grace period, we will apply the 60-day grace period on the next applicable months.
My Auto / Housing Loan was past due before Bayanihan 2 was implemented. Can I still avail of the 60-day grace period?
No. Only loan accounts that are in current status (i.e., not past due) as of Sept. 15, 2020, are eligible for the 60-day grace period.
Business Loans
Who are eligible for the program?
Borrowers in good credit standing, and whose existing, current or outstanding loan payments fall between September 15 to December 31, 2020.
How do I avail of the reprieve program?
We need your consent to participate in the Bayanihan 2 Program.
If your loan account is eligible, please let us know of your intention to avail of the Program on or before October 31, 2020, through the following:
a. Email us at bbclientservices@bpi.com.ph with the Subject: Bayanihan 2 Reprieve Participation and with the following details:
- Borrower Name (as stated in your loan account records)
- Address
- Contact Number
b. You may contact your Relationship Manager or our hotline at (+632) 7918-2000; press #2 for Business Loans
Kindly wait for a confirmation of the receipt of your request.
What if my account has already been debited during the reprieve period?
Please note that because of the timing difference in aligning with the Bayanihan 2 or BARO Act, there may have been instances of automatic debit or post dated checks being deposited during the early part of the reprieve period.
Please contact us in case you would like any changes in your payment transaction.
You may let us know of this concern through the following:
a. Email us at bbclientservices@bpi.com.ph with the following details:
- Borrower Name (as stated in your loan account records)
- Address
- Contact Number
b. You may contact your Relationship Manager or our hotline at (+632) 7918 2000; press #2 for Business Loans
Kindly wait for a confirmation of the receipt of your request.
What if I want to pay during the reprieve period?
If we do not receive any instructions from you to participate in the Bayanihan 2 Program, we will continue handling the account according to the agreed upon payment terms and schedule.
What will be subject to the one-time 60-day reprieve period?
The 60-day grace period on principal and/or interest payments will be applied to each loan of current status with payment periods that fall between September 15 to December 31, 2020.
Within this period, the borrower may only choose one due date to apply the 60-day reprieve. Interest will continue to accrue based on the outstanding balance of the loan.
BanKo NegosyoKo Loan
Program
Mandatory 60-day Grace Period Program
Covered Areas
All BanKo branches nationwide
Covered Period
September 15, 2020 – December 31, 2020
Qualifier for the Program
The mandatory one-time 60-day grace period shall apply to all NegosyoKo Loan Clients, whose accounts are in current status and with loan payments that are due within the period from September 15 to December 31, 2020.
Will the term of my contract / loan agreement be revised?
The existing Promissory Note will not be changed. The term of the loan will be extended by the number of amortizations that were applied to the Bayanihan grace period.
What will happen if I fail to settle my installment due after the 60-day grace period?
The deferred payment program is for sixty days only. To avoid late payment penalties, please settle your installment on your due date after the deferred payment period.
Who do I need to contact if I have inquiries?
You may call or visit your BanKoMare or BanKoPare or see them in the branch.
You may also call our Customer Care Hotline numbers: Globe - 0917 820 2257 / 0917 814 6306; Smart 0919 076 4943/0919 076 4942; Mondays to Friday, 8:30 AM to 5:30 PM.
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| BPI is regulated by the Bangko Sentral ng Pilipinas