GCash extends loan payment for typhoon-hit borrowers – BusinessWorld Online
GCASH, through its lending arm Fuse Financing Inc., has implemented a 30-day grace period for GLoan and GGives borrowers affected by Super Typhoon Fung-wong, locally called Uwan.
The one-month extension will automatically apply for eligible accounts, which will be confirmed to users through SMS, the e-wallet said in a statement on Wednesday.
GCash will temporarily disable the Automatic Debit Arrangement feature during the grace period to let customers prioritize emergency needs and recovery.
“No additional interest, late fees, or penalties will be charged during the extension period,” GCash added.
This applies to borrowers with loans due between Nov. 9 to 13 and are residing in area most heavily affected by the typhoon: Aurora, Albay, Butuan (Agusan Del Norte), Camarines Norte, Eastern Samar, Camarines Sur, Guimaras, Catanduanes, Ifugao, Masbate, Kalinga, Nueva Ecija, Pangasinan, Nueva Vizcaya, Tagkawayan (Quezon), Quirino, and Sorsogon.
“Other locations may be included as the government declares additional areas under a state of calamity.” — Aaron Michael C. Sy