In response to the effects of Severe Tropical Storm Kristine, Pag-IBIG Fund has announced the availability of its Calamity Loan program and a one-month Housing Loan payment moratorium to assist affected members.
Members residing or working in areas declared under a state of calamity—including parts of Region IV-A, Ilocos Region, Cagayan Valley Region, Region V, Region VIII, and NCR—may apply for Calamity Loans and a one-month Housing Loan payment moratorium to alleviate financial difficulties and prioritize 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," 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 allows qualified members to borrow up to 80% of their total Pag-IBIG Regular Savings at a low annual interest rate of 5.95%, with payment terms of 24 or 36 months and the first payment deferred for three months.
For members in areas not declared under a State of Calamity, the Pag-IBIG Multi-Purpose Loan is available for recovery assistance.
Under the one-month Housing Loan payment moratorium, payments will be suspended at no additional cost. Eligible members can apply for this moratorium until 31 December 2024, either through the Virtual Pag-IBIG or at the nearest Pag-IBIG branch.
“Our Lingkod Pag-IBIG on Wheels (LPOW) are scheduled to deploy in various areas in Quezon City, Valenzuela, Malabon, Laguna, Batangas, and Bicol," said Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta. "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."
Members may also apply for a Calamity Loan or Multi-Purpose Loan online through the Virtual Pag-IBIG.