Pag-IBIG offers Calamity Loans and One-Month Housing Payment Relief to members affected by Typhoon Kristine

by Info @Brand Zone | Oct. 29, 2024

In response to the effects caused by Typhoon Kristine, Pag-IBIG Fund has  announced the availability of its Calamity Loan program and Housing Loan  payment moratorium to assist affected members. 

Members residing or working in areas declared under a state of calamity – including areas in Region IV-A, Ilocos Region, Cagayan Valley Region,  Region V, Region VIII, and NCR – may apply for Calamity Loans and one month Housing Loan payment Moratorium to alleviate their financial  difficulties and allocate their funds toward more immediate recovery needs. 

“Pag-IBIG Fund is here to provide support to our Filipino workers who are  facing financial difficulties caused by Typhoon Kristine through the  availability of the Calamity Loan and the grant of one-month housing loan  payment moratorium. We want to provide relief to our members in the  hardest-hit areas as they recover from the impact of the typhoon. In line with  President Ferdinand Marcos, Jr.'s call, we are dedicated to extending all  necessary support to help them recover and rebuild,” said Secretary Jose  Rizalino L. Acuzar of the Department of Human Settlements and Urban  Development and Chairperson of the 11-member Pag-IBIG Fund Board of  Trustees. 

The Pag-IBIG Calamity Loan is one of the agency’s Short-Term Loan  programs designed to provide relief and support to members residing or  working in areas declared under the State of Calamity. Qualified members  can borrow up to 80% of their total Pag-IBIG Regular Savings, which  consists of their monthly contributions, their employer’s contributions, and  accumulated dividends earned. The loan is offered at a low annual interest  rate of only 5.95%, with payment terms of 24 or 36 months, and the first  payment deferred for three months. 

For members who need financial assistance in areas not declared under a  State of Calamity, the Pag-IBIG Multi-Purpose Loan is available to help  them recover from the aftermath of the typhoon. 

Meanwhile, under the one-month Housing Loan payment moratorium,  payments on members’ Housing Loans or installments will be suspended  for the approved period at no additional cost. Eligible members may apply for the availment of the moratorium program until 31 December 2024, either  through the Virtual Pag-IBIG or at the nearest Pag-IBIG branch. 

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the  readiness of Pag-IBIG Fund in providing aid to members affected by the  calamity. 

“We want to assure our members that we will remain proactive in helping  them recover. Our immediate priority is to give them assistance in all the  ways we can. Our Lingkod Pag-IBIG on Wheels (LPOW) are scheduled to  deploy in various areas in Quezon City, Valenzuela, Malabon, Laguna,  Batangas, and Bicol.” 

“Through our LPOW, Pag-IBIG members may submit their Calamity Loan  applications to aid in their immediate recovery, file for insurance claims if  their homes mortgaged under Pag-IBIG Fund are damaged, and file for a  Housing Loan for major home repairs. Our members can always count on  us for timely and reliable assistance, especially in times of need,” Acosta  added. 

Members may also apply for a Calamity Loan or Multi-Purpose Loan online  through the Virtual Pag-IBIG.

Pag-IBIG Fund released P77.33B in home loans for August 2024

by Info @Brand Zone | September 9, 2024

Pag-IBIG Fund disbursed P77.33 billion in home loans from January to August this year, reflecting an increase of P383 million compared to the P76.94 billion released during the same period last year.

This achievement marks the highest home loan release for the January to August period in the Fund’s history, surpassing same period figures from previous years and underscoring Pag-IBIG Fund’s growing role in supporting the homeownership aspirations of Filipino workers.

“The continued growth of Pag-IBIG Fund’s home loan releases means that more Filipino workers were able to fulfill their dreams of homeownership. This is a step consistent with the government’s efforts to resolve the housing backlog and provide a better quality of life for Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Acuzar highlighted that the amount of home loans released by the agency within the period enabled 54,063 members to acquire or improve their own homes, allowing Pag-IBIG Fund to remain true to its mandate of providing quality and affordable housing to more Filipino workers. 

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta attributed the Fund’s continuous growth to the sustained affordability and reliability of the agency’s housing loan programs for its members.

“Pag-IBIG Fund has been a dependable partner for Filipino workers in fulfilling their dreams of homeownership through affordable shelter financing. We are grateful to our members for their continued support of our programs. We also recognize their consistent and timely loan payments, which enabled us to uphold strong collections and high performing loans ratio,” Acosta said.

“For those who are contemplating on purchasing their own home, now is the best time to avail of a Pag-IBIG Housing Loan. Our interest rates remain low, and our loan terms continue to be affordable and borrower friendly. With our strong fiscal performance, Pag-IBIG Fund is more than capable of providing shelter financing for our future member-borrowers to help them pursue a secured future for their family through home ownership,” she added.

Pag-IBIG Calamity Loan ready for members affected by Typhoon Carina

by Info @Brand Zone | July 25, 2024

Pag-IBIG Fund has announced the immediate availability of its Calamity Loan to assist members affected by Typhoon Carina. The typhoon has intensified monsoon rains (habagat), leading to widespread flooding across various regions. 

The agency has allocated calamity loan funds to help affected members in Metro Manila, Cainta (Rizal), Baco (Oriental Mindoro), and the Province of Batangas.   Additional funds will be released for other areas where State of Calamity may be declared.

“Pag-IBIG Fund is ready to support our Filipino workers with their immediate financial needs through our cash loans. We are closely coordinating with local government units in the hardest-hit areas to ensure that aid reaches those in need promptly, in line with President Ferdinand Marcos, Jr.'s directive to extend all necessary assistance to our fellow Filipinos affected by these calamities,” said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees. 

The Pag-IBIG Calamity Loan is one of the agency’s Short-Term Loan 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 consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned. The loan is offered at a low annual interest rate of only 5.95%, with payment terms of 24 or 36 months, with the first payment deferred for two months.

For members who need financial assistance in areas not declared under a state of calamity, the Pag-IBIG Multi-Purpose Loan is available to help them recover from the aftermath of the typhoon. 

Pag-IBIG Fund Chief Executive Officer Marilene C. Acostaemphasized the urgency of providing immediate financial support to members affected by the calamity. 

“I have already instructed the deployment of our Lingkod Pag-IBIG on Wheels (LPOW) as soon as roads become safe and passable, to ensure that our services become accessible to our members from the affected areas. Through our LPOW, Pag-IBIG members can submit their Calamity Loan applications to finance their immediate needs, file for insurance claims if their homes mortgaged under Pag-IBIG Fund are damaged, or file for a Housing Loan for major home repairs,” Acosta said.

She further added that members may submit their Calamity Loan applications online through the Virtual Pag-IBIG. “For members with internet access, they may accomplish, scan, and upload their Pag-IBIG Calamity Loan applications even without a Virtual Pag-IBIG account. They may also submit hard copies of all accomplished applications to their company’s accredited Fund Coordinators along with the required documents for processing.

And starting Monday (July 29), members whose employers are enrolled with STL online with Employer Interface may also submit their applications via the Virtual Pag-IBIG for Employers, making the process as easy and convenient as possible. Just make sure that you have activated your Virtual Pag-IBIG Account and your Loyalty Card Plus so that we can immediately credit the proceeds of your Calamity Loan.  We want to reassure our members that they can count on Pag-IBIG Fund for timely and reliable assistance in their time of need.”

From January to June of this year, Pag-IBIG Fund has released a total of P35.32 billion in cash loans, assisting 1.50 million members. Of the total, P1.14 billion were Calamity Loans, which helped 70,141 members recover from the effects of typhoons and other calamities.