Pag-IBIG Fund Offers Calamity Loans to Members Affected by Carina and Habagat

The Home Development Mutual Fund, known as Pag-IBIG Fund, announced on Thursday that its members affected by Tropical Cyclone Carina and the enhanced Southwest Monsoon (Habagat) can avail themselves of its calamity loan program.

In a statement, Pag-IBIG Fund specified that the program is available to members in Metro Manila, Batangas, Cainta in Rizal, and Baco in Oriental Mindoro. Additional funds will be released for other areas declared under a state of calamity.

The calamity loan is one of Pag-IBIG Fund’s short-term loan (STL) programs, designed to provide relief and support to members residing or working in areas declared under a state of calamity. Qualified members can borrow up to 80% of their total Pag-IBIG regular savings, which includes their monthly contributions, their employer’s contributions, and accumulated dividends earned.

Loan Details

• Interest Rate: 5.95% annually
• Payment Terms: 24 or 36 months, with the first payment deferred for two months

“Pag-IBIG Fund is ready to support our Filipino workers with their immediate financial needs through our cash loans,” said Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development and chairperson of the Pag-IBIG Fund Board of Trustees. He emphasized the coordination with local government units in the hardest-hit areas to ensure prompt aid delivery.

Assistance for Non-Calamity Areas

For members needing financial assistance in areas not declared under a state of calamity, the Pag-IBIG Fund’s multi-purpose loan is available to help them recover from Typhoon Carina.

Pag-IBIG Fund CEO Marilene Acosta has instructed the deployment of the Lingkod Pag-IBIG on Wheels (LPOW) “as soon as roads become safe and passable,” to ensure service accessibility for affected members. Through LPOW, members can submit calamity loan applications, file for insurance claims if their homes mortgaged under Pag-IBIG Fund are damaged, or apply for housing loans for major home repairs.

Members can also submit calamity loan applications online through the Virtual Pag-IBIG platform. Acosta stated that members with internet access can accomplish, scan, and upload their applications without a Virtual Pag-IBIG account. They can also submit hard copies through their company’s accredited Fund Coordinators. Starting Monday, July 29, members whose employers are enrolled with STL online with Employer Interface can submit their applications via the Virtual Pag-IBIG for Employers.

“We want to reassure our members that they can count on Pag-IBIG Fund for timely and reliable assistance in their time of need,” Acosta said.

From January to June this year, Pag-IBIG Fund has released a total of P35.32 billion in cash loans, assisting 1.5 million members. Of this amount, P1.14 billion were calamity loans, helping 70,141 members recover from typhoons and other calamities.