As most part of the country shifted to General Community Quarantine (GCQ), banks resume collecting loan payments. This is accordance to the Bayanihan Act that moratorium period is applicable during Enhance Community Quarantine (ECQ).
In line with this, City Savings releases an advisory to all valued borrowers especially DepEd teachers.
Read the advisory below for your guidance and reference..
“City Savings Bank will start collecting all loan payments with payment due dates from June 1, 2020 onwards.
All loan payments that were temporarily suspended during the moratorium program will be rescheduled and in effect, your loan term will be extended to two (2) months.
The accrued interest accumulated during the moratorium period will also be collected. This is in line with the Bayanihan Act and its Implementing Rules and Regulations (IRR).
This will be applicable for both Autonomous and RPSU schools or offices under the jurisdiction of the Department of Education (DepEd).
Please refer to the Frequently Asked Questions (FAQs) for answers to any queries you might have.
For inquiries and concerns regarding detailed computation and payment options, you can reach us through email at [email protected] and follow us on Facebook at facebook.com/citysavings bankofficial for real-time updates.
Source: City Savings Bank