Pag-IBIG Fund plans to increase maximum loanable amount for members

By Andrea Renevera-Bancud

Friday 3rd of February 2012

QUEZON CITY, Feb. 3 (PIA) -- The Home Development Mutual Fund (HDMF/Pag-IBIG) is planning to increase the maximum loanable amount for its members.

Vice President for Legal and General Counsel Atty. Robert Cosico revealed this during today's edition of Philippine Information Agency's (PIA) Communication and News Exchange Forum (CNEX) held at PIA central office.

"Magbabago ang halaga ng maximum na pwedeng mahiram. (The amount of maximum loanable amount will change.) We're looking here at doubling the maximum loanable amount from Pag-IBIG Fund. That would be around six million pesos." Cosico said.

New reforms on housing programs will also be implemented. SSS is also planning on improving the borrower's evaluation system.

"We would like to rationalize the interest rate of Pag-IBIG fund. It will be comparable to the market," Cosico said.

In terms of service, Cosico said they are now fully computerizing the services of Pag-IBIG fund.

"We are also trying to come-up with tie-ups with various collection platforms, iyong mga payment center para mas maging madali ang pagbabayad ng mga member (such as payment centers, to make it easier for members to pay)," he added.

"We do hope that this year would again be a very very good year for Pag-IBIG fund." Cosico concluded. (ASB/ARB/PIA-GHQ)