PAG-IBIG Fund Calamity Loan Now Available to Flood Victims

PAG-IBIG Fund Calamity Loan Now Available to Flood Victims

Home Development Mutual Fund (PAG-IBIG) has just announced that flood victims from various areas can now avail of its Calamity Loan fund.

Here are the basic information needed when you want to avail of PAG-IBIG 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.

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.

DOWNLOAD PAGIBIG LOAN APPLICATION FORM HERE