Rappler
How to avail of a calamity loan from Pag-IBIG Fund
Pag-IBIG Fund has launched a Calamity Loan for members affected by Typhoons Butchoy and Carina, which caused damage to at least 317 houses costing an estimated P2.66 million.
The Fund has allocated calamity loan funds for affected members in specific areas and is ready to provide more for other calamity-declared regions.
Pag-IBIG Fund Chairperson Jose Rizalino L. Acuzar highlighted their readiness to support affected Filipino workers and their coordination with local government units for prompt aid distribution.
Qualified members can borrow up to 80% of their Pag-IBIG Regular Savings with a low annual interest rate of 5.95%, payable over 24 or 36 months.
The first payment for the loan is due after two months, and members in areas not declared under a state of calamity can avail of the Pag-IBIG Multi-Purpose Loan.
Members have 90 days from the declaration of a state of calamity to apply for the loan, with an example given for Metro Manila residents applying after Typhoon Carina.
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The Government Service Insurance System (GSIS) has allocated P18.5 billion for emergency loans for members and pensioners affected by typhoon Carina and the southwest monsoon.
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The Social Security System (SSS) is offering calamity loan assistance to members affected by Typhoon Carina in the National Capital Region and other areas that may be declared under a state of calamity.
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The Philippine government, through the Department of Finance (DOF), is preparing to secure a $500 million loan from the World Bank to fund relief and recovery efforts following Typhoon Carina.
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