Bayanihan 2 FAQs
- How does Section 4 (uu) of the Republic Act No. 11494, otherwise known as the Bayanihan to Recover as One Act (“Bayanihan 2”), affect my loans with First Circle?
- Is my loan qualified for the Grace Period?
- How does the Grace Period work?
- When does the Grace Period start?
- What do I do to use the Grace Period?
- I have more than one loan that satisfies the 1-2-3 requirements for the Grace Period. Which loan gets the Grace Period?
- How do I pay my loans during or after the Grace Period?
- If I wanted to get the Grace Period, should I issue new postdated checks right away?
- Will my loan continue to earn interest during the Grace Period?
- Will my loan earn late fees and other charges during the Grace Period?
- How much interest will I be charged during the Grace Period?
- If I have more than 1 loan that is qualified to get the Grace Period, will each loan earn interest during its own Grace Period?
- My loan was granted after 15 September 2020. Am I also qualified to get the Grace Period?
- My loan has been outstanding and unpaid since before Bayanihan 2 took effect on 15 September 2020. Can I still get the 60-day Grace Period?
- My loan is payable in installments. How does the Grace Period affect my payment schedule?
- My loan is payable in installments. How does the Grace Period affect my payment schedule?
- What if my payment date falls on 1 January 2021 onwards?
- Is the interest accrued on my loan before 15 September 2020 waived under Bayanihan 2?
- I’d like to extend the payment date on my loan by just a few days, but I don’t want to use the full 60-day Grace Period. Is that possible?
- What happens to my loan payments when the 60-day Grace Period runs out?
- I want to pay my loan(s) on time to avoid incurring additional interest for the Grace Period. What should I do?
- Can I repay all or some of my loans, fully or partially?