With President Rodrigo Duterte extending the Enhanced Community Quarantine in Metro Manila until May 15, HPPEMC will be granting another 30-day grace period for loans falling due on the May 2020 payroll.
Similar to the first 30-day grace period granted in April, availing of this second 30-day grace period is optional and does not preclude those wanting to pay their obligations for May 2020.
As such, for those who wish to avail of the 30-day grace period offered for the May 2020 payroll run, please click HERE to read the amended policy and how to avail. Please note that consistent with BSP and CDA guidelines, loan interest will continue to accrue during the 30-day grace periods. Kindly make sure to read the amended policy for an illustration of interest computation.
Members must inform the coop office on or before May 1, 2020 if they wish to avail of the second 30-day grace period to allow the coop to process the request before the May 2020 payroll cut-off.
