Manila, July 6 -- Borrowers need not worry about additional interest for payments due within the enhanced community quarantine (ECQ) period that were not paid, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said.
In a virtual Palace briefing Monday, Diokno said the Bayanihan to Heal as One Act specified that deadlines for payments of loans for car, mortgage, and credit cards, among others, were suspended when parts of the country were placed under ECQ.
He said the deadlines should have been extended to either June or July.
"There should be no interest on interest or penalties," he said, clarifying that the interest that should be slapped on the customers are only those imposed before the ECQ.
Diokno said the central bank has...