An August 8, 2012 press release from the Home Development Mutual Fund
Vice-President and Pag-IBIG Fund Chairman Jejomar C. Binay today announced the availability of the Fund’s calamity loan program for its members residing in areas declared under state of calamity. The Vice-President had earlier announced the lowering of interest rate of Pag-IBIG’s calamity loans to help families affected by typhoons and other disasters.
“Kailangan po ng ating mga kababayan na nasalanta ng matinding pag-ulan at pag-baha ang lahat ng tulong. I have directed Pag-IBIG to establish satellite desks in areas heavily affected by the recent rains and flooding to facilitate the receipt and processing of calamity loans. Pag-IBIG’s calamity loan is now more responsive to the needs of its members as it carries a yearly interest rate of only 5.95 percent, compared to the previous 10.75 percent,” Binay said.
Pag-IBIG Fund will open satellite desks in city halls and provincial capitols in areas that are declared under state of calamity according to Pag-IBIG Chief Executive Officer, Atty. Darlene Marie B. Berberabe.
“Members availing of a calamity loan may borrow as much as 80% of their savings in Pag-IBIG Fund. The loan is payable in two years with a grace period of three months. We will prioritize and expedite processing of applications to give immediate relief to our members,” she said.
To apply, members only need to present two valid IDS and a properly filled out Calamity Loan Application Form, duly signed by their employers. The form is downloadable at www.pagibigfund.gov.ph. For further inquiries, members in Metro Manila may call the Pag-IBIG Fund hotline at 724-4244.