Pag-IBIG Fund Calamity Loan ready for members affected by Taal unrest
“Pag-IBIG Fund has allocated calamity loan funds this year, which will help our members living in Batangas and Cavite following the destructive effects of the ashfall and earthquakes caused by the eruption of Taal Volcano. This is in line with the directive of President Rodrigo Roa Duterte to provide Filipinos with responsive social benefits during trying times,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the Pag-IBIG Fund Board of Trustees. Under Pag-IBIG Fund’s Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned. Affected members have 90 days from the declaration of a state of calamity in their area to avail of the loan. Considering the plight of the borrowers, Pag-IBIG Fund is offering the Calamity Loan at a rate of 5.95% per annum – the lowest rate available in the market. The loan is payable over a period of 24 months, with the first payment deferred. Initial payment is due on the third month after the loan is released.