THE Pag-Ibig Fund has activated its Calamity Loan Program to assist members impacted by Typhoon Crising.
Jose Ramon P. Aliling, head of the Department of Human Settlements and Urban Development and chairperson of the Pag-Ibig Fund Board of Trustees, confirmed the readiness to assist.
“We continue to closely monitor developments and are prepared to provide immediate aid in areas that may be declared under a state of calamity in the coming days,” Aliling said, emphasizing the agency’s commitment to timely relief.
Under the Calamity Loan Program, eligible members can borrow up to 90 percent of their total Pag-Ibig Savings, which includes monthly contributions, employer counterparts and earned dividends.
The loan features a 5.95 percent per annum interest rate, currently the lowest in the market for cash loans, and is repayable over up to three years, with a three-month grace period before the first payment. Members have 90 days from a state of calamity declaration to file their applications.
Pag-Ibig Fund Chief Executive Officer Marilene C. Acosta said that Pag-Ibig branches are coordinating with local government units to deploy the agency’s mobile branch, “Lingkod Pag-IBIG On-Wheels.” These mobile units will facilitate loan applications from members and process insurance claims for Pag-Ibig Housing Loan borrowers whose properties were damaged by the typhoon.
“When calamities strike, we at Pag-IBIG understand that our members in affected areas need immediate financial assistance,” Acosta said.
She assured members that services remain accessible, with branches open despite potential impacts on their own personnel and facilities.
“For members who have internet access, the Virtual Pag-Ibig is ready to accept their Calamity Loan applications online. During these trying times, our members can continue to count on Lingkod Pag-IBIG,” she added. / KOC