Bank of Commerce

We think Customers

Customer Service:
(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) 1800-8-982-6000 (Globe Lines)

IMPORTANT ADVISORY: FOR CONSUMER LOAN BORROWERS

HomeAdvisoriesIMPORTANT ADVISORY: FOR CONSUMER LOAN BORROWERS

You are important to us. During this challenging time, we do not want you to worry about your auto, housing or salary loan payments.

In compliance with the Bayanihan to Heal as One Act (Republic Act No. 11469) and the Implementing Rules and Regulations of Section 4 (aa) of the Act, we are implementing the payment arrangements below upon the application of the mandatory thirty (30)-day grace period for your loans falling due within the period of the enhanced community quarantine (ECQ), which was extended until 31 May 2020:

  1. Payment of your scheduled loan amortization with payment due date between 16 May and 31 May 2020 will be deferred for a period of thirty (30) days without any penalties and charges.
  2. On your next due date, you will only pay ONE (1) loan amortization and will be billed the accrued interest on the loan. As a result of the application of the mandatory grace period during the extended ECQ, all scheduled loan amortizations will be moved by thirty (30) days. The interest that will accrue during the mandatory grace period will be computed based on your outstanding principal, using the existing interest rate of your loan. This may be paid one (1) time on your next due date, or may be spread out for the remaining term of the loan.
  3. If your loan amortization due date had already been extended by thirty (30) or sixty (60) days, as the case may be, and the new due date falls between 16 May and 31 May 2020, there would be an additional thirty (30) days extension of your loan maturity. Hence, your loan maturity will now be extended for sixty (60) or ninety (90) days. For instance, if your original loan maturity date (prior to the Bayanihan Law) is 16 July 2023, the new maturity date of your loan will now be either 16 September 2023 or 16 October 2023.
  4. In the meantime, we will not negotiate your Post Dated Checks (PDCs) or debit your account (for Auto Debit Arrangement).
  5. The mandatory thirty (30) days grace period pursuant to the Bayanihan Law shall only apply if there are still areas in the country under ECQ or Modified ECQ. Hence, the application of the mandatory thirty (30) days grace period shall cease once the ECQ and Modified ECQ are lifted in the entire country.
  6. Any subsequent issuances of the Department of Finance and/or Bangko Sentral ng Pilipinas in relation to the Bayanihan Act shall apply accordingly, and may further modify the said payment arrangement.

If you would like to continue paying your scheduled loan amortization as originally scheduled, and choose not to avail of the mandatory grace period, you may send an email to BankCom Customer Service at customerservice@bankcom.com.ph and to Mr. Noah Rodriguez at nprodriguez@bankcom.com.ph. You may also send your queries to the same email addresses.