18 September, 2012

Pag-IBIG Fund’s Calamity Loan

I ride a taxi everyday, usually before 3pm, to pick up my son from school. Most taxis at this time listen to Raffy Tulfo's radio show Sumbong at Aksyon.

Since the Habagat last August, the show has been airing an advertisement for Pag-IBIG Calamity Loan. But today is the only time that I've really listened to it. If you have been badly hit by Habagat or last week's flooding, you most probably need to have your house renovated or need to replace the refrigerator that got broken because of flood water.

Pag-IBIG-Fund-Calamity-Loan

Here's new information from Pag-IBIG on how to apply for a Calamity Loan.

LOAN PURPOSE
The program provides financial assistance to Pag-IBIG member-victims in calamity-stricken areas.

BORROWER ELIGIBILITY
Member must have made at least 24 monthly contributions.
Member is actively paying contributions at the time he applies for a loan, and commits to continuously remit contributions for the term of the loan. A resident of the area which is declared calamity-stricken.

LOAN AMOUNT
The member is entitled to borrow up to 80% of the Total Accumulated Value (TAV) of his savings with yearly interest rate of 5.95 percent (previous rate before August 2012 was 10.75 percent).
For members with existing MPLs, the outstanding loan balance shall be deducted from the proceeds of the calamity loan.
LOAN PERIOD/RENEWAL
The loan shall be amortized over a period of 24 months with a grace period of 5 months.
Should another calamity occur in the same area, a borrower may renew his calamity loan any time. The outstanding balance of his existing loan, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the new loan.

AVAILMENT PERIOD
The Pag-IBIG member-victim must avail himself of the Pag-IBIG Calamity Loan within a period of 90 days from the occurrence of the calamity.

PAG-IBIG HOTLINE NO: 724-4244

18 comments:

Mye said...

I'm glad they have it in Pag-Ibig already. This will definitely be of help to those who are in need of calamity assistance

Les said...

This will certainly help people who were victims of Habagat to get back on their feet again.

nuts said...

This reminds me to reactivate my PAGIBIG account. It's been years since my last contribution. I pray that we all spare from any calamities. It would be hard especially on my part where there is no financial assistance to loan from PAGIBIG.

Anonymous said...

i am not a member of Pag-Ibig, and I don't know how to be one, maybe i should, we never know when we rerally need such help :)

zoan said...

i dont know if my comment went through, maybe it was an anonymous comment LOL. i said wala akong pag-ibig kaya malamang d ako pwde mag loan, di ko rin alam paano mgpa member ahaha

Teresa Martinez said...

This is timely information especially for those concerned.

sigrid @ marriagemarkers said...

Waaaaa This reminds me to update our payments. :D We might need PAG-IBIG loan for a new home :D

Ellen said...

I hope I could fix my PAG IBIG documents and update my contributions soon... but frankly, their issue with Globe Asiatique is a turn-off.

Mommy Pehpot said...

Applying in Pag Ibig is really a big help especially for circumstances like had happen last August. Thus, one should consider of applying for this kind of company!

Momee Gee said...

Companies such this is really a big help to those people who have been affected by disasters and calamities. and I believe being member of this company is really a solution ..

Kaye Figuracion said...

This is useful to those who want to avail loan. We are one of those affected by the monsoon. I'll bookmark your post just in case, I'll need it.

jem alvarado said...

I have not tried to apply PAG-ibig loan just my hubby in our house loan.. It is very helpful especially to growing family.

Badet | The Misis Chronicles said...

A lot will definitely benefit from this. Aside from the major clean up, thank God most of our things were saved from Habagat flood.

jared's mum said...

this is good news to everyone who'd like to get loans to have their homes fixed. + with a low interest rate, it won't be such a pain to pay for it back....

Karen said...

As a Pag-ibig (and SSS) member, I always avail of the benefits it (they) offer whenever I am eligible, because there are scammers who sometimes enjoy these benefits in your behalf.

Trish @ The All-around Mom said...

I hope that the Pag-Ibig members who were affected by the Habagat aftermath was able to avail of this loan.

melandria's musings said...

pag-ibig is indeed a great help for many, we are also currently amortizing our house through pag-ibig

Tetcha Figuerres said...

It's comforting to know that employees can avail of the PAG-IBIG Calamity Fund when a natural calamity hits them bad. These people need all the financial help they can get during these critical times.

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