Security Bank’s priority is the protection, security, and welfare of our employees and clients. That’s why, in light of the Luzon-wide Enhanced COVID-19 Quarantine, we’re extending payment due dates for Credit Cards and Loans.
In compliance with the Bayanihan Act, all customers with a Credit Card, Home Loan, Personal Loan, Auto Loan, Business Mortgage Loan, or Business Express Loan whose loans with ORIGINAL payment due dates that fall within the government-mandated Community Quarantine (ECQ, MECQ) period from March 17 to May 31, 2020 are granted a loan payment extension.
Upon lifting of the ECQ/MECQ period in the entire country on June 1, 2020, collection of payments for loans and credit cards will resume.
You can still opt to pay through Security Bank Online Banking, branches, and payment partners (for cards).
Frequently Asked Questions (LOANS)
- Is this applicable only to Luzon-based customers or is it Nationwide? This applies to customers nationwide.
- How long is the payment extension for loans? We’re extending payment due dates as follows:
• March 17 to March 31 – extended by 90 days
• April 1 to April 30 – extended by 60 days
• May 1 to May 31 – extended by 30 days
Original Due Date: March 17, 2020
Due dates covered by the payment extension: March 17, 2020, April 17, 2020, May 17, 2020
Next due date: June 17, 2020
- Who are qualified for the payment extension offer? All loan customers with payment due dates from March 17 to May 31, 2020 are covered by the payment extension.
- Which loan products are covered? The following products are covered by this offer: Home Loans, Personal Loans, Auto Loans, Business Mortgage Loan and Business Express Loan.
- What about SALAD? We’re also extending the payment due date of SALAD. For full details, click here.
- What about Corporate Salary Loans? For Corporate Salary Loans, we will reach out to each company’s respective HR Officer.
- Will my loan payment be doubled the following payment date? No, your loan payment will not be doubled as we will extend the maturity of the loan. You may need to submit another check or adjust your auto debit arrangement to cover for the extended maturity date.
- Will I be charged a late fee? No, you will not be charged a late fee. If somehow a late payment fee appears on your account, it will be waived.
- Will there be additional charges since my loan is extended? We will not be charging interest on interest, late penalty fees nor any other charges.
- Will my loan incur interest during the payment extension or grace period given? In accordance with the Bayanihan to Heal as One Act, loan interest during the loan extension period or accrued interest still applies.
- When will I have to pay for the loan interest incurred during the payment extension or the accrued interest? Payment will be collected on your new due date along with your one month amortization. You have the option to pay this in full or installment over the remaining life of your loan. We will accept payments made via PDC or via an email confirmation to debit your account.
- I don’t want to avail of the payment extension, what should I do? I have funds now to pay for my loan due.
During ECQ and MECQ, all loan clients who wished to continue paying for their loan were given the opportunity to OPT OUT of the loan payment extension until May 31, 2020.
We are extending this until your June due date with a limited time offer. Customers who still wish to opt out of the mandatory payment extension and who prefer to pay their loan as scheduled can have their accrued interest waived. If you avail of this offer, we will debit your account or deposit your Post Dated Checks as scheduled at this time. Your loan maturity will not be extended and no loan interest during payment extension or accrued interest will be incurred.
Offer is valid only until your new due date in June. Click this link to avail: https://www.securitybank.com/waive-interest-form/
- I still can’t settle my dues with the 1-month payment extension. Is there any other payment option which I can avail? For payment requests outside of the mandatory payment extension, kindly click this link https://www.securitybank.com/contact-us-form-for-loans/ for your concern. All such requests shall be treated on a case to case basis.
- Will post-dated checks go through for loan payments? All PDCs for loans dated March 19, 2020 to May 31, 2020 will be held. Posting of checks will resume on your next due date. Since loan maturity will be extended, you may be requested to issue a new post-dated check for that extended month.
Starting June 1, 2020, collection of payments will resume, and your PDCs will be deposited as scheduled on your due date.
- What happens if I have an auto-debit set up? All auto-debit arrangements scheduled from March 25, 2020 to May 31, 2020 were temporarily lifted.
Starting June 1, 2020, collection of payments will resume, and your nominated account will be debited as scheduled on your due date.
I still want to fund my account linked to an auto-debit arrangement (ADA) are there other ways for me to do it without going to a Security Bank branch? You may fund your Security bank using the options below. Although funds are supposed to be credited in real-time for both methods, we still advise you to perform transactions at least one working day before your expected date of crediting to avoid any inconvenience.
- Fund Transfer via Instapay or PesoNnet – When sending, select Security Bank and make sure to input the correct account number, account name, and amount. Applicable transfer fees may apply.
- Fund Transfer via Digital Wallets such as GCash and PayMaya –The Send Money to Bank Account feature lets you transfer money from your digital wallet to Security Bank. Check out the following websites for more details: GCash and Paymaya
Frequently Asked Questions (CREDIT CARDS)
- Who are Eligible for payment extension? Cardholders nationwide whose accounts are current and with payment due dates falling within the period of March 17 to May 31, 2020. Also eligible are cardholders with past due accounts from April 2020 onwards.
- Will the previous month due be billed together with the new monthly statement due? The Total Outstanding Balance by the next statement cycle shall be composed of the previous balance and current which include new transactions or usages (if any) during the cycle. The Minimum Payment due is computed based on the new Outstanding Balance.
- What fees will be waived?
Late Payment and Overlimit Fees billed within the Enhanced Quarantine Period are automatically waived.
Interest / Finance Charge
Transactors – Cardholders who settled their Total Amount Due in full for the past months and fully settled their Total Amount Due on or before the extended due date shall not incur interest or Finance charges.
Revolvers – Cardholders who partially settle their Total amount due shall not be billed interest or Finance charges during the Enhanced Community Quarantine but these will be accrued. Post ECQ, the accrued interest or Finance charge shall be applied from the date of last actual payment.
If such interest or Finance charges are applied during the ECQ period, cardholder may contact the customer service hotline or send an email to the customer care mailbox to request for reversal.
- There are Payment Extension and Balance Suspension entries on my statement. What are these? In connection with the payment extension, following entries may appear on your statement of account. These entries are intended so no additional interest will be applied on applicable interest charges and to avoid unnecessary penalties to be charged to your account.
• Balance Suspension
• Payment Extension
• Interest Charges
• Reversal of Interest Charges
For more info, please see our updated FAQs here: bit.ly/SBCPayExt2020
- How will I know what my Outstanding Balance is? Cardholders can obtain their Outstanding Balance via…
▪ Type SB OB and send to 2086 for Globe & TM Subscribers and 4629 for SMART & TNT Subscribers.
Total Amount Due / Minimum Amount Due:
▪ Type SB TADMAD and send to 2086 for Globe & TM Subscribers and 4629 for SMART & TNT Subscribers.
- Where can I settle my balance? Cardholders may settle at any of the following payment centers:
• Security Bank branches (Complete list of open branches: https://www.facebook.com/notes/security-bank/list-of-open-branches-in-luzon-during-enhanced-community-quarantine/2976711285725403)
• Security Bank Online (upon enrollment)
• Other Banks’ online banking (upon enrollment)
– Bancnet ATMs
– RD Pawnshop
– Gemmary Pawnshop
- If the government extends the Enhanced Community Quarantine period, will the bank extend the due date or grace period? The Bank will adhere to any extension or grace period mandated by the government in relation to the Bayanihan to Heal as One Act.
Thank you and stay safe.