Home Development Mutual (PAG-IBIG) Fund has recently announced that areas declared under State of Calamity can now avail of its Calamity Loan fund.
Calamity Loan is a program that provides financial assistance to PAGIBIG member-victims in the calamity-stricken areas.
To be eligible, you must have made at least 24 monthly of 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.
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.
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.
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.
Requirements to avail PAGIBIG fund calamity loan:
- PAG-IBIG Calamity Loan Form (download HERE)
- Declaration of being affected by calamity Form
- Photocopy of Company ID of borrower
- Photocopy of ID with address
- Photocopy of 1 month latest payslip
- Photocopy of Cedula
Areas that are under State of Calamity
- Bugallon, Pangasinan
- Batangas (San Luis and Lemery)
- Rizal (San Mateo, Cainta, Rodriguez)
- San Jose, Occidental Mindoro
- Vallodolid, Negros Occidental
- Talisay City, Cebu