PDIC tells borrowers of Bangko Pangasinan to pay loans
THE Philippine Deposit Insurance Corporation (PDIC) advised borrowers of the closed
Bangko Pangasinan – A Rural Bank, Inc. reminding them that they are under obligation to pay their loans notwithstanding the closure of the bank.
The PDIC encouraged borrowers of the bank to settle their entire balance by availing of the
incentives under the enhanced PDIC Closed Bank Loan Incentive Program (CLIP). Qualified
borrowers who will make a one-time cash payment of their loans can benefit from CLIP’s
substantial discounts. Interested borrowers can visit the PDIC website,
www.pdic.gov.ph/CLIP, for more details on the program.
Deposits of borrowers who have past due loans with the bank are automatically applied to
their loans, by operation of law. If the loans are on current status, the borrowers may opt
to apply their deposits against their loans, to avoid paying interest on their loans. (PDIC)
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