CBS auto, home, personal, salary, SME and Smallbiz loan accounts in current status (not past due) as of September 14, 2020 are eligible for one-time 60-day grace period within September 15 to December 31,2020 in compliance with the Bayanihan to Recover as One Act (Bayanihan 2).
If you avail of the grace period, the term of your loan will be extended by 2 months. You should continue paying regular amortization when your grace period expires. Additional accrued interest shall also be charged -- payable in full or on a staggered basis until December 31, 2020. Please issue new Post Dated Checks for your extended amortizations and additional accrued interest charges.
If you decide NOT to avail, pay on your original amortization schedule. No additional accrued interest will be charged. But you need to notify CBS by email: customerexperience.cbs@chinabank.ph.
If we don't hear from you on or before October 15, 2020 we will implement the 60-day grace period on your account starting on your next due date.
Bayanihan Act IRR and FAQ
RA 11494 Bayanihan to Recover as One Act
