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Pag-IBIG offers Calamity Loans and One-Month  Housing Payment Relief to members affected by  Typhoon Kristine

by Info @Brand Zone | Oct. 29, 2024



Pag-IBIG


In response to the effects caused by Typhoon Kristine, Pag-IBIG Fund has  announced the availability of its Calamity Loan program and Housing Loan  payment moratorium to assist affected members. 


Members residing or working in areas declared under a state of calamity – including areas in Region IV-A, Ilocos Region, Cagayan Valley Region,  Region V, Region VIII, and NCR – may apply for Calamity Loans and one month Housing Loan payment Moratorium to alleviate their financial  difficulties and allocate their funds toward more immediate recovery needs. 


“Pag-IBIG Fund is here to provide support to our Filipino workers who are  facing financial difficulties caused by Typhoon Kristine through the  availability of the Calamity Loan and the grant of one-month housing loan  payment moratorium. We want to provide relief to our members in the  hardest-hit areas as they recover from the impact of the typhoon. In line with  President Ferdinand Marcos, Jr.'s call, we are dedicated to extending all  necessary support to help them recover and rebuild,” said Secretary Jose  Rizalino L. Acuzar of the Department of Human Settlements and Urban  Development and Chairperson of the 11-member Pag-IBIG Fund Board of  Trustees. 


The Pag-IBIG Calamity Loan is one of the agency’s Short-Term Loan  programs designed to provide relief and support to members residing or  working in areas declared under the State of Calamity. Qualified members  can borrow up to 80% of their total Pag-IBIG Regular Savings, which  consists of their monthly contributions, their employer’s contributions, and  accumulated dividends earned. The loan is offered at a low annual interest  rate of only 5.95%, with payment terms of 24 or 36 months, and the first  payment deferred for three months. 


For members who need financial assistance in areas not declared under a  State of Calamity, the Pag-IBIG Multi-Purpose Loan is available to help  them recover from the aftermath of the typhoon. 


Meanwhile, under the one-month Housing Loan payment moratorium,  payments on members’ Housing Loans or installments will be suspended  for the approved period at no additional cost. Eligible members may apply for the availment of the moratorium program until 31 December 2024, either  through the Virtual Pag-IBIG or at the nearest Pag-IBIG branch. 


Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the  readiness of Pag-IBIG Fund in providing aid to members affected by the  calamity. 


“We want to assure our members that we will remain proactive in helping  them recover. Our immediate priority is to give them assistance in all the  ways we can. Our Lingkod Pag-IBIG on Wheels (LPOW) are scheduled to  deploy in various areas in Quezon City, Valenzuela, Malabon, Laguna,  Batangas, and Bicol.” 


“Through our LPOW, Pag-IBIG members may submit their Calamity Loan  applications to aid in their immediate recovery, file for insurance claims if  their homes mortgaged under Pag-IBIG Fund are damaged, and file for a  Housing Loan for major home repairs. Our members can always count on  us for timely and reliable assistance, especially in times of need,” Acosta  added. 


Members may also apply for a Calamity Loan or Multi-Purpose Loan online  through the Virtual Pag-IBIG.


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