Affected Pag-IBIG members entitled to calamity loan


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Latest News Philippines: Affected Pag-IBIG members entitled to calamity loan – Journal.com.ph:

MEMBERS of the Home Development Mutual (Pag-IBIG) Fund who were affected by Typhoon Labuyo may file their calamity loans with the various branch offices of Pag-IBIG.

Vice President Jejomar Binay, who is also the Pag-IBIG chairman, said members residing in areas declared under a state of calamity are entitled to a calamity loan equivalent to 80% of their savings.

According to him, the loan is payable over a period of 24 months at an interest rate of 5.95% per annum.

“Members availing of the calamity loan also have the option to defer their first payment up to three months from the release of the loan and pay their first monthly amortization on the fourth month,” he said.

“By giving them the choice to defer the payment, we can help ease the burdens of our kababayans living in typhoon-prone areas and those hit by other natural calamities,” Binay added.

All that the members have to do is to submit their Application for Calamity Loan together with two valid IDs at any of Pag-IBIG branches. The application forms may be downloaded from the Pag-IBIG website or requested at the branches.

“Siguraduhin lamang po natin na ang address na nakasulat sa mga dala nating ID ay ’yung mga lugar na nakapagdeklara na ng state of calamity,” Binay stressed.

Meanwhile, Pag-IBIG President Darlene Marie Berberabe said once declarations of a state of calamity are made by the appropriate local government offices and as soon as weather permits, Pag-IBIG will also be deploying mobile offices in affected areas to receive members’ applications for calamity loans.

Berberabe added that Pag-IBIG will accept applications for calamity loan up to 90 days from the time the area is declared under state of calamity.

It was learned that Pag-IBIG’s Cotabato Branch and extension office has been accepting and processing some 200 applications of members affected by flash floods in Cotabato City and parts of Maguindanao and Sultan.

“This is the Fund’s way of showing continuing concern for its members, and its way of helping out its members during their times of need,” Binay said.

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