The 60-day moratorium is provided under Republic Act No. 11494 or the Bayanihan to Recover as One Act signed earlier this month.

The law

mandates banks to waive charges for penalties due to late payments as well as the additional interest on amortizations that fall within the period

.

The BSP memorandum said the grace period is applicable to credit extended by lenders including salary, personal, housing, commercial, motor vehicle loans, amortizations, financial lease payments, premium payments, and credit card payments.

Inform your clients. This can help them not to default on their current housing loans

https://www.bworldonline.com/bsp-sets-rules-for-debt-moratorium/