Pag-IBIG Fund has mobilized its calamity loan program to assist members affected by Typhoon Crising, in line with the directive of President Ferdinand Marcos Jr. to deliver immediate support to Filipinos in disaster-hit areas.
“We are ready to assist our members affected by Typhoon Crising through the Pag-IBIG Calamity Loan,” Secretary Jose Ramon Aliling, head of the Department of Human Settlements and Urban Development and chairperson of the 11-member Pag-IBIG Fund Board of Trustees, said in a statement July 22.
“We continue to closely monitor developments and are prepared to provide immediate aid in areas that may be declared under a state of calamity in the coming days. This is part of our continuing effort in heeding the call of President Marcos to deliver timely relief and support to those in need,” Aliling added.
Under the Calamity Loan Program, qualified members may borrow up to 90 percent of their total Pag-IBIG Savings, which consist of their monthly savings, employer counterpart contributions, and earned dividends.
The loan carries an interest rate of 5.95 percent per annum, the lowest for cash loans in the market, and is payable over a period of up to three years, with a three-month grace period before the first payment is due.
Members may file their loan applications within 90 days from the declaration of a state of calamity in their area, the agency said.
Pag-IBIG Fund chief executive officer Marilene Acosta, meanwhile, stated that its branches are now in coordination with local government units in their respective areas for the deployment of the agency’s mobile branch – the Lingkod Pag-IBIG On-Wheels – to receive applications for loans from members, as well as insurance claims from current Pag-IBIG housing loan borrowers, whose properties have been damaged due to the typhoon.
“When calamities strike, we at Pag-IBIG understand that our members in affected areas need immediate financial assistance,” Acosta said.
“For this reason, we make sure that all our services and benefits remain accessible to our members. Even while our offices and personnel in typhoon-hit areas have also been affected, our branches remain open and are ready to receive loan applications and housing loan insurance claims,” she added.
Acosta said they are also set to deploy the Lingkod Pag-IBIG On-Wheels to initially go around these areas once roads are accessible, to further bring services closer to members, who are most in need. “For members who have internet access, the Virtual Pag-IBIG is ready to accept their calamity loan applications online. During these trying times, our members can continue to count on Lingkod Pag-IBIG.” ||
