In accordance with the announcements by the Securities and Exchange Commission (SEC) last September 21, 2020 and October 8, 2020 regarding the “Bayanihan to Recover as One Act,” Tala is implementing a one-time, mandatory 60-day grace period without penalty fees to loans due on or before December 31, 2020 and are:
- Existing (granted before the implementation of the Act last September 15, 2020),
- Current (not yet past due as of September 15, 2020), and
- Outstanding (not yet fully paid as of September 15, 2020)
Loans that were past due as of September 15, 2020 and loans that are granted after September 15, 2020 are not covered by the Act and will not be eligible for the 60-day grace period.