Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.
Thankfully, many banks are offering borrowers assistance during these difficult times. You may be able to defer personal loan payments without facing late fees.
Find out how your bank is willing to help. If your bank (or credit union) isn't on this list, call a representative to discuss your options.
13 banks that may help with personal loan payments during the coronavirus
BMO Harris
If you've lost income due to the coronavirus, you may be eligible to defer payments on your BMO Harris personal loan for up to three months.
You can defer your Citi personal loan payments for up to two statement cycles, and you won't pay late fees. Citi will report your account as being current to credit bureau agencies even if you miss payments during this time.
You may be able to defer personal loan payments for up to 60 days, and you won't face late charges. The missed payments will be added to the end of the loan term, so your term will be extended.
Old Point National Bank is offering deferrals for personal loan payments. You can call 1 (757) 728-1290 to speak with a customer service representative.
You may be able to defer PNC personal loan payments for up to 90 days, and you won't pay late fees. To enroll in the deferment program, fill out the consumer loan hardship request form.
US Bank mentions on its website that it's providing assistance with consumer loans, but it doesn't go into detail. You can call 1 (855) 764-4617 to speak with a representative about your situation.
Do you have a personal experience with the coronavirus you'd like to share? Or a tip on how your town or community is handling the pandemic? Please email covidtips@businessinsider.com and tell us your story.
