MANILA, (PIA) — In response to the devastation caused by Typhoon Kristine, the Pag-IBIG Fund has rolled out its Calamity Loan program and a one-month housing loan payment moratorium to assist affected members.
The initiative aims to alleviate financial burdens for those residing or working in areas declared under a state of calamity, including various regions such as Region IV-A, Ilocos Region, Cagayan Valley Region, Region V, Region VIII, and the National Capital Region.
Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development, who also chairs the Pag-IBIG Fund Board of Trustees, emphasized the organization’s commitment to supporting Filipino workers facing financial difficulties.
“We want to provide relief to our members in the hardest-hit areas as they recover from the impact of the typhoon,” Acuzar stated. This initiative aligns with the call from President Ferdinand Marcos, Jr. for comprehensive support for affected communities.
The Pag-IBIG Calamity Loan allows qualified members to borrow up to 80% of their total Pag-IBIG Regular Savings, which includes their contributions, employer contributions, and accumulated dividends.
The loan features a competitive annual interest rate of 5.95%, with repayment terms of 24 or 36 months and an initial payment deferment of three months.
For those in areas not declared under a state of calamity, the Pag-IBIG Multi-Purpose Loan remains available to assist with recovery efforts.
Additionally, the one-month housing loan payment moratorium allows eligible members to suspend payments without incurring extra costs. Applications for the moratorium will be accepted until December 31, 2024, through the Virtual Pag-IBIG platform or at local Pag-IBIG branches.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta assured members of the organization’s readiness to provide aid.
“Our immediate priority is to give them assistance in all the ways we can,” Acosta said.
The organization’s mobile service, Lingkod Pag-IBIG on Wheels (LPOW), is set to deploy in various areas, including Quezon City, Valenzuela, Malabon, Laguna, Batangas, and Bicol.
Through these mobile units, members can submit Calamity Loan applications, file for insurance claims for damaged homes, and apply for housing loans for significant repairs.
“Our members can always count on us for timely and reliable assistance, especially in times of need,” Acosta added.
Members seeking to apply for a Calamity Loan or Multi-Purpose Loan can do so online via the Virtual Pag-IBIG platform. (JCO/PIA-NCR)
