Manila Bulletin
Pag-IBIG Fund offers three-month moratorium on all loans
The Home Development Mutual Fund or Pag-IBIG Fund is granting a three-month moratorium on loan payments for its members in Luzon and the National Capital Region.
This applies to housing, multi-purpose, and calamity loans with payments due from March 16, 2020, to June 15, 2020.
Pag-IBIG Fund Chairman Eduardo D. del Rosario stated that this measure aims to help members focus on their families' basic necessities and safety during the enhanced community quarantine.
During the moratorium, members will not incur interest or penalties for late payments.
Members can apply for the moratorium at Pag-IBIG branches until June 15, 2020, after the enhanced community quarantine has been lifted.
Other government agencies like NHMFC, SHFC, and NHA will also grant similar three-month moratoriums on housing and multipurpose loans.
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Major Philippine banks are extending loan payment grace periods to help clients cope with the economic impact of the COVID-19 pandemic and the enhanced community quarantine.
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The Bangko Sentral ng Pilipinas (BSP) has urged banks to offer financial relief, including suspending online banking fees and granting a grace period for loan payments, amid the COVID-19 pandemic and enhanced community quarantine.
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