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All About Bayanihan to Recover as One Act

Last updated: December 21, 2023

Written by: Digido Financial Writers Team | Reviewed by: Mark Anthony

Key takeaways:

  • Bayanihan to Recover As One Act gives the grace period of 60 days for all loans has a repayment date between September 15, 2020 and December 31, 2020.
  • As a state-licensed legit lender, Digido supports Bayanihan to Recover as One Act.
  • Digido participation in Bayanihan to Recover as One Act will help clients during this very difficult time.

The pandemic COVID-19 occurred in the human race as a bolt from the blue. It changed our lives in remarkable ways by restricting our mobility, constraining our liberties, and by bringing hitherto unheard words such as quarantine and lockdown to our daily lexicon.
The mitigation strategies such as lockdowns practically robbed people of their workdays and dried up their financial sources.

It created a wave of protests in many countries. Their scant consideration for the guidelines and callous approach gave new avenues for the virus to flourish and showcase its killer instincts unabated. But the Philippines had been an exception.
For many, especially outsiders, such support from the Pinoys, who works hard to eke out a living was a surprise. But not for those who are familiar with the Filipino’s unreserved consideration for “kababayans (fellow countrymen) and their “Bayanihan spirit.”
The word “Bayanihan (pronounced as buy-uh-nee-hun) means “being in a bayan or community”. It refers to the community’s collective effort to help each individual achieve his or her goals through the selfless teamwork of the community members.
This Bayanihan spirit of helping each other for the betterment of society is part of Filipino’s DNA. Be it a natural calamity or supporting a needy one in distress, the Bayanihan spirit binds them together and enables them to work without any expectations.

The old custom of helping the fellow countrymen to settle in a new place by carrying his or her house on the shoulders of 15-20 volunteers might not be prevalent nowadays. But the spirit still exists.
During the testing times of community lockdowns, the Filipinos sacrificed a lot to protect the fellow Filipinos from the deadly virus and enable the government to bring things under control.

However, this selfless act of support created some unforeseen issues for their financial stability, especially with the repayment of bank loans and credit card bills.
As part of its continuous efforts to revive the economy to its past glory, the Philippine government has introduced many financial stimulus packages.
The Bayanihan to Recover as One Act, also known as Bayanihan 2 or BARO Act, is the latest in the offering.

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  • Does the "Bayanihan to Recover as One Act" apply to my past loan dues?
    No. The grace period of 60 days applies only to loans granted before the Act's effectivity on September 15, 2020 without any past dues.
  • Does the grace period option apply to loans other than monthly payments such as quarterly, semestral, annually, etc.?
    Yes. The mandatory grace period applies to all loans, whatever be the payment schedule, as long as they meet the eligibility criteria.
  • My lender insists on an acknowledgment or formal application to avail of the 60 days grace period for my loans. Is it legal?
    Yes. As a precautionary step to avoid future disputes or litigation, the lenders are permitted to get some documents from the borrower to avail of the grace period.
  • I make my EMI payments or loan payments through post-dated checks (PDC) and Auto Debit Arrangements (ADA). Can I opt for the grace period?
    Yes. If you intend to avail of the grace period, always update the bank about the same on time, at least 5 days before the payment date. It will stop the bank from submitting your post-dated checks for collection or debit your account under Auto Debit Arrangement.
  • Even though my loan is eligible for the 60 days grace period, I do not want to avail it. Should I inform the bank about it?
    There is no need to make any communications with the bank. You can continue to make the payments as usual.
  • I have a loan from a foreign financial institution. Am I eligible for the 60 days grace period?
    No. The BARO law applies only to the financial institutions established in the Philippines.
  • I have multiple loans. Some of them are past due. Am I still eligible for the grace period
    Yes. You can avail of the grace period for the eligible loans irrespective of the status of your other loans.
  • Does the "Bayanihan to Recover as One Act" apply to overdue loans?
    No. The grace period does not apply to overdue loans falling due between 15 September 2020 and 31 December 2020. It only applies to all existing, current and outstanding loans that mature on or before December 31, 2020.
  • What do I have to do to take advantage of the grace period?
    You do not need to do anything. If your loan meets the requirements above, you are automatically entitled to a grace period.
  • Will penalties be charged for late payment on my loan during the grace period?
    No. Bayanihan 2 prohibits the charging of interest, late payment penalties and other fees during the grace period. Subsequently, if the payment is not made on time, interest or late payment charges will start to accrue on the outstanding amount in accordance with the signed loan agreement.

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What is the Bayanihan to Recover As One Act?

Bayanihan 2 Act provides an allocation of PHP 165.5 billion to strengthen the government’s response to the pandemic and recover the economy.
Some of the significant features of Bayanihan 2 Act are the following:

  1. An emergency subsidy of PHP 5,000-8,000 for low-income householders and recently returned OFWs.
  2. Cash assistance of PHP 5,000-8,000 as unemployment or involuntary separation assistance for displaced workers.
  3. Increased risk allowances for frontline healthcare workers. It also covers free treatment and compensation for work-related injury or infection due to COVID-19.
  4. In case of the unfortunate death of a frontline healthcare professional due to COVID-19 infection, the heirs will receive PHP 1 million as compensation.
  5. An allocation of PHP 5.6 billion is set aside for supporting the displaced public Utility Vehicle drivers, of which the majority are Jeepney drivers.
  6. A one-time grace period of sixty (60) days to pay all existing, current, and outstanding loans with due dates falling between September 15, 2020 and December 31, 2020 without any penalties or late fees.
  7. A grace period of thirty (30) days for the payment of all utility bills such as water, electricity, telecommunications, etc., falls due within the period of enhanced or modified community quarantine.
  8. The law restrains the building owners from collecting the rent from residential and commercial buildings for 30 days from the renters who are not permitted to work due to lockdown restrictions.
  9. There won’t be any additional charges such as late fees, penalties, or interest on interest during any grace period mentioned in the law.
  10. The law directs all government agencies and local government units to act on all pending applications of permits, licenses, certificates, etc., within a non-extendible period of 7 working days.

Among the provisions, the grace period of 60 days for all loans is a solace for the Filipinos who reel under severe financial stress due to the pandemic induced joblessness.

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Loans that are Eligible for Bayanihan to Recover As One Act

Section 4(uu) of R.A. 11494 of the law stipulates that all Bangko Sentral ng Pilipinas (BSP) Supervised Financial Institutions need to implement a non-extensible mandatory one-time sixty-day grace period for all loans with a due date falls between September 15, 2020 and December 31, 2020.
BSP Supervised Financial Institutions include banks, quasi-banks, financing companies, lending companies, real estate developers, insurance companies, asset and liabilities management companies, and other financial institutions, including the Government Service Insurance System (GSIS), the Social Security System (SSS), and Home Development Mutual Fund (Pag-IBIG Fund).
Almost all categories of loans, including, but not limited to, salary, personal, housing, commercial, motor vehicle loans, amortizations, financial lease payments, premium payments, and credit card payments, are eligible for the grace period.
It also covers the loans secured through online lending applications or platforms owned by financing companies or lending companies.

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How does the 60 days Grace Period Work?

To be eligible for the grace period, the loans should be approved before September 15, 2020. The status must be current without any past dues.

During the grace period, the lender or the company can’t charge any interest on interest, late fees, penalties, or any charges until December 31, 2020. However, they can continue to collect the interest as per the loan conditions for the said period.
The customer can settle the accumulated interest during this grace period either as a one-time payment or on a staggered way till December 31, 2020 or through mutual understanding.

The scheme treats each loan as a separate one. Hence, a borrower with multiple loans can avail of this benefit for all his eligible loans. It enables one to secure the 60 days grace period for loans that already received an extension under the Bayanihan 1 scheme.

The grace period for the qualified loans will begin from the payment due dates between September 15, 2020 to December 31, 2020. Suppose your payment due date is September 20, 2020, and if you have opted for the grace period, you can delay the payment till November 19, 2020. Your total loan duration or loan maturity date too will extend accordingly.

In other words, the grace period is just a way to defer your payment for a future date and is not a loan waiver.
Every loan that meets the eligibility criteria will automatically get the grace period without any mandatory formal application from the borrower. However, it is always safe to check with your lender to avoid any future complications.
One has the freedom to not avail the grace period as well.

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Digido supports the Bayanihan to Recover as One Act

Indeed, there are many options for a Filipino for financial assistance, such as banks, pawnshops, online lenders, or even the infamous “Bombay 5-6” lenders. But the vast population of unbanked Filipinos are still unable to get the benefits of affordable loans.
When a need for cash arises, people try to get the money first instead of weighing each lender’s pros and cons. Sadly, most financial institutions that offer easy processing lack any regulatory supervision, which can be harmful to the borrower.
Private lenders such as Digido operating with the state license are a blessing for the Pinoys to manage their financial exigencies. Digido uses an entirely automated system for loan management. It works around the clock throughout the year without any holidays.
Our loan eligibility requirements and documentation process are minimal. With an approval rate of 95%, Digido is the most preferred choice for a large section of people to secure a fast personal loan of up to PHP 25,000.
As a state-licensed legit lender, Digido operates according to the rule book. According to the Central Bank of the Philippines, all BSP-controlled financial institutions issuing loans, including Digido Finance Corp. are required to comply with BARO Act. Digido participation in Bayanihan to Recover as One Act will help clients during this very difficult time.

All operations are performed online - you don't have to leave your house
In only 4 minutes you can receive up to 10,000 pesos in your bank account, and up to 25,000 pesos for repeat borrowers.
We don't require guarantors representation, documentation, or guarantee deposits.
We only require 1 government valid ID

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How do I proceed if my Digido loan is eligible for BARO?

Under the Bayanihan to Recover as One Act, if your loan has a repayment date between September 15, 2020 and December 31, 2020, you are entitled to a 60 days grace period. During this period, no penalties will be assessed on late debt. It will not affect your credit rating. According to Bayanihan to Recover as One Act, Digido will contact all customers who are delinquent on a loan that qualifies under BARO terms via email. Please check your registered email address. If you do not see an email from Digido, call (02) 8876-84-84. If you receive a denial, it means that your loan does not qualify for the specified terms.

I want to borrow ₱ 10000
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* Interest payments are approximate. The final loan amount and interest rate must be confirmed in your loan agreement after loan approval.

What if my Digido loan is in default and is not covered by BARO Act?

Digido likes responsible borrowers who make timely payments. If you frequently apply for loans and always pay them back on time, your limit will gradually increase.
If you realize that you can’t pay back your debt on time, then extend the loan in your personal cabinet. This will require you to pay the interest amount, and the principal amount will be extended.
If you can neither extend nor pay your Digido loan and you have a good reason, contact us at (02) 8876-84-84 by calling the hotline number.
Remember that overdue debts negatively affect your credit rating and increase the amount owed by accruing penalties.


Not all financial emergencies give us time to contemplate the loan features, especially when the requirement is grave, such as a hospital emergency.
A wrong step here is your sure ticket to the debt trap. In such a situation, a legit lender like Digido, with its continuous availability, instantaneous loan approval, and transparent business practices, is the right choice to proceed without a shadow of doubt.

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Written by: Digido Financial Writers Team

Author pages:
Digido Financial Writers Team is a team of experts in the field of finance and credit, specializing in writing articles for Digido blogs.

Reviewed by: Mark Anthony

Author pages:
Mark Anthony is, the Finance and Accounting Manager. of Digido Finance Corp., monitoring and controlling the flow of cash that comes in and out of the company to meet the company’s business needs, preparing the financial reports and analysis of income and expenses, and monitoring tax compliance.