Pag-ibig Fund offers calamity loan

Pag-ibig Fund is now accepting applications for calamity loans affected by typhoon Ondoy, as announced by Vice President Noli de Castro. Members are given 90 days from the occurrence of the calamity within which to apply for and avail of loans under the program. They can borrow up to 80% of the accumulated savings at 10.75% per annum. Below is the thread from Pag-ibig website:

Pag-IBIG Chief Executive Officer Jaime A. Fabiana said that under the Fund’s Calamity Loan Program, Pag-IBIG members can borrow up to 80% of their total accumulated savings, with an interest rate of 10.75% per annum. The loan has a five-month grace period and is payable in 24 months. The CEO added that members with existing Multi-Purpose Loans (MPLs) can still avail themselves of the assistance. However, the outstanding MPL balance will be deducted from the proceeds of their calamity loan.

To qualify, applicants must be residents of localities declared as calamity areas who have paid at least 24 monthly contributions, and are active members at the time of application. They must continue to remit their contributions during the term of the loan.

To date, Metro Manila and 25 other provinces in Luzon have been declared under a state of calamity. These include the provinces of Aurora, Quirino, Nueva Ecija, Nueva Viscaya, Pangasinan, Tarlac, Zambales, Pampanga, Bulacan, Rizal, Quezon, Isabela, the Mt. Province, Ifugao, Benquet, La Union, Batangas, Cavite, Mindoro Occidental, Mindoro Oriental, Marinduque, Camarines Norte and Bataan.

For inquiries about the Pag-IBIG Calamity Loan Program, members in the NCR can call the HDMF Call Center at 724-4244 or the nearest branch in their area.