Implementing Rules and Regulations of The Bayanihan Act

BPI Advisory
IV. Auto Loan

What is the most recent advisory on the grace period for loans?
Our advisory on the grace period has been updated and aligned with the
issuance of the Implementing Rules and Regulations of Section 4(aa) of
R.A. No. 11469 otherwise known as the “Bayanihan to Heal as One Act” last
April 1, 2020. See the Implementing Rules and Regulations of the
Bayanihan Act.
The latest published advisory shall supersede prior advisories issued

regarding this matter.
Who is qualified to avail of the grace period?
Under the Bayanihan Act, the mandatory grace period shall cover all
existing BPI Family Auto Loan accounts with amortization due dates within
the ECQ period, defined as the period from March 17, 2020 to May 31,
2020.
How can I avail of this? Do I need to apply or submit documents to avail of

the grace period?
For amortization due dates from April 2 to May 31, 2020, all auto-debit
payment arrangements have been automatically suspended. There is no
need to sign up or submit documents to avail of the grace period.
For amortization due dates from March 17 to April 1, 2020, any

amortization payment previously collected has been applied to your loan. To
avail of deferred payment for these due dates, you may request for a
reversal of the previously collected payment through SMS or E-mail.
What will happen to my Auto Loan under the grace period?
We will suspend payment collection for your loan and you will not be
required to fund your deposit account under the auto-debit arrangement.
Note that despite suspension of the payment collection during the grace
period, the unpaid loan principal shall continue to earn interest. As a
result, your original amortization schedule shall be adjusted to reflect the
accrued interest during the grace period.
What will happen to my Auto Loan after the grace period?
Payment collection of an amount equivalent to 1-month amortization will

resume automatically. There will be no double deduction of amortization,
and no penalty fees will be charged.
However, the following changes will occur:
A. After the grace period, your next amortization/s shall be applied as

payment for the interest accrued during the grace period . So as not to
increase the amount of your regular monthly amortization, the monthly
distribution of your loan principal and interest will be adjusted accordingly.
B. The maturity date of your loan shall be extended corresponding to

the number of months your payment due date/s was deferred.
C. The unpaid principal amount resulting from the adjustment shall be

collected together with your last monthly amortization. We recognize
that there may be some pressure on your current cash flow during ECQ so
any increase in the amount due shall be settled at the end of the loan
instead of immediately after the grace period.
How much is the accrued interest on the unpaid loan principal resulting
from the grace period?
The amount of accrued interest on the unpaid loan principal varies

depending on two criteria:
● Amount of outstanding principal balance before the grace period was

granted, and
● Age or tenure of your loan upon the granting of the grace period
To get your updated outstanding loan obligation/s, you may request for an
updated amortization schedule from our Loans Customer Care unit by
calling 889-10000 and dialing option 4-4-0.
What will happen if the Enhanced Community Quarantine is extended

beyond May 31?
As provided by the Bayanihan Act, if the ECQ is extended, the grace period
will also be automatically extended and the auto-debit payment arrangement
will remain suspended. Consequently, the maturity date of your loan will
also be extended for a duration equivalent to the Availed Grace Period.
Your loan principal, however, will continue to accrue interest during the
extended grace period.
If I have another loan with amortization due dates within March 17, 2020, to
May 31, 2020, will my other loan/s also be granted a grace period?
What will happen to my Comprehensive Motor Insurance payables that
were due be debited together with the loan?
If your annual insurance policy is due for renewal during the ECQ period,
the insurance premium due shall be collected on the next due date following
the lapse of the grace period.
I do not want to defer my payment and I just want to proceed with my

regular amortization schedule. Am I allowed to cancel the grace period?
Under the Bayanihan Act, you may continue paying in accordance with your
regular amortization schedule.
For this purpose, you may request for reinstatement of your regular payment
schedule no later than May 31, 2020, either via SMS or EMAIL, following the
prescribed format below. Our Retail Loans Customer Care team will contact
you for the validation of your request within 3-5 business days from request
date.
● Thru SMS
Text LOANS-CS [space] NO GRACE PERIOD [space] Full Name [space]
Loan Account Number [space] Birthdate and send to 0917-8910000
● Thru email
Use NO GRACE PERIOD _ Loan Account Number as the email subject,
provide your Full Name and Birthdate in the email content, and send to
[email protected]
If you are registered to BPI Online, you may continue paying for your loan
amortization through the BPI Online \ Bills Payment option.
To register your Auto Loan account as a Biller, you may follow these steps:
1. Log-on to BPI Online.
2. In the homescreen, select Other Services.
3. Choose the option Manage Recipients.
4. Click the Add Recipients button on the upper right.
5. In the Recipient field, select the option Billers.
6. In the Billers field, select the Billers Name: BPI MAIN BFB LOAN |
FBAUTO for Auto Loan
7. In the Reference Number field, enter your 7-digit loan account
number (EX: 00000008123456).
Can I avail of the grace period without extending the loan maturity?
Yes. This will mean that all unpaid amortization/s before the grace period
will be collected as a lump sum together with the amortization payment on
your next due date following the lifting of the ECQ. If this is your preference,
please call us at 889-10000 so we may process this request.
Due to the impact of the ECQ, I need a different loan payment arrangement
apart from the grace period and extension of loan maturity. What should I
do?
Please call us at 889-10000 for a more detailed discussion.

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BPI Advisory

IV. Auto Loan

The latest published advisory shall supersede prior advisories issued

Who is qualified to avail of the grace period?

How can I avail of this? Do I need to apply or submit documents to avail of

For amortization due dates from March 17 to April 1, 2020, any

What will happen to my Auto Loan under the grace period?

What will happen to my Auto Loan after the grace period?

Payment collection of an amount equivalent to 1-month amortization will

A. After the grace period, your next amortization/s shall be applied as

B. The maturity date of your loan shall be extended corresponding to

C. The unpaid principal amount resulting from the adjustment shall be

The amount of accrued interest on the unpaid loan principal varies

● Amount of outstanding principal balance before the grace period was

What will happen if the Enhanced Community Quarantine is extended

I do not want to defer my payment and I just want to proceed with my

Please call us at 889-10000 for a more detailed discussion.

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