Borrowers and businesses hit by rising fuel and power costs can now get temporary relief on loans and banking fees, after the Bangko Sentral ng Pilipinas (BSP) rolled out new measures during the ongoing energy emergency.
Approved under Monetary Board Resolution 296 dated April 8, 2026, banks are allowed to give clients more time to pay their loans, including up to six months of grace period for most borrowers and up to one year for farmers.
This means affected individuals and businesses can delay payments without being immediately penalized.
The BSP also said these loans will not automatically be classified as “bad loans” for up to one year, giving both borrowers and banks room to recover without hurting credit standing.
In addition, the central bank is urging banks and e-wallet providers to temporarily waive fees for online transfers, including InstaPay and PESONet, to help people save on costs.
“Lower-cost digital transactions may help consumers and businesses by reducing the need for transportation to banks and e-money service providers,” the BSP said in a news release.
The relief measures can be used for up to one year from the government’s declaration of a national energy emergency on March 24, which was triggered by global supply disruptions linked to tensions in the Middle East.
The BSP said the goal is to help businesses stay afloat and keep lending flowing despite rising costs.
“The BSP remains committed to promoting financial stability, financial consumer protection, and overall financial health amid the energy emergency,” it added.
However, banks are expected to apply the relief only to borrowers genuinely affected by higher energy costs, ensuring responsible lending practices are maintained.