MANILA - Fintech giant GCash said it is giving a one-month extension for users affected by tropical storm Kristine a one-month extension to repay their loans.  

GLoan and GGives borrowers in Kristine-hit areas in Regions V, VIII, IX, and Calabarzon will be given a one-month grace period for repayment, GCash said.

"In the CALABARZON region, this includes various towns in Quezon province: General Luna, Lucban, Lopez, Mulanay, and Tagkawayan. Cavite towns like Noveleta, Kawit, Imus, Ternate, General Trias, Bacoor, Tanza, and Silang are also covered. Batangas residents in Lemery, Laurel, Calatagan, Lipa, Alitagtag, Cuenca, Agoncillo, Talisay, and Tanauan are included. In Laguna, the towns are Biñan, Sta. Cruz, San Pedro, Santa Rosa, and Cabuyao," GCash said. 

"For Region V, all towns in Albay, Camarines Norte, Camarines Sur, Catanduanes, Sorsogon, and San Fernando, Masbate, are on the list. Meanwhile, in Region VIII, the extension covers specific towns in Eastern Samar: Arteche, Borongan, Can-avid, Dolores, Jipapad, Maslog, Maydolong, Oras, San Policarpo, San Julian, Sulat, and Taft. Additionally, the town of Calbayog in Samar qualifies. Finally, in Region XII, only the town of Magpet in Cotabato is eligible for the grace period extension."

The grace period means loan repayments due between October 16 to November 7, will automatically be extended by one month. 

"For instance, a loan due on October 22 will now be due on November 22, with subsequent due dates adjusted accordingly," GCash said. 

The Ayala-led fintech said borrowers will not incur additional interest or late fees during the extension period, to allow them to focus on recovery without added financial stress. Eligible borrowers will receive SMS notifications detailing their new due dates and guidance on managing repayments, it said, but also added that those who can repay early are encouraged to do so.

"We stand with the communities affected by Severe Tropical Storm Kristine and are committed to helping them rebuild their lives," said Tony Isidro President & CEO of Fuse Lending. 

FUND RAISING FOR RELIEF

GCash users can also contribute to the relief and recovery efforts of select charitable groups such the Ayala Foundation, ABS-CBN Foundation, GMA Kapuso Foundation, UNICEF, Philippine Red Cross, Caritas Manila and Save the Children, the company said.

"Users can opt to send funds directly to the NGOs by searching for them in the "Pay Bills" feature under the "Others" category or scan the official GCash QR code of the organizations," GCash said. Transaction fees for these donations are waived, it added

Meanwhile GCash also advised users against possible scams. It urged users to donate only through official payment channels like the GCash app and transact with trusted organizations to avoid fraudulent entities. 

"Customers should never share their MPIN or OTP with anyone," it said.