Pag-IBIG provides disaster loans and one-month housing assistance to members affected by Typhoon Kristine

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

Members who live or work 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 – can apply for Calamity Loans and a one-month Moratorium on Housing Payments. to ease their financial difficulties and allocate their funds to immediate recovery needs.

“The 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 Calamity Loan and one-month mortgage moratorium. We want to provide relief to our members in the hardest hit areas as they recover from the effects of the typhoon. In line with the call of President Ferdinand Marcos, Jr., we are committed 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 Chairman 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 assistance and support to members living or working in areas declared under a State of Disaster. Eligible members can borrow up to 80% of their total Pag-IBIG Regular Savings, which includes their monthly contributions, employer contributions, and accrued benefits. 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 is deferred for three months.

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

Meanwhile, under the one-month moratorium on Home Loan payments, members’ Home Loan payments or installments will be suspended for an approved period of time without additional charges. Eligible members may apply for a standing program until Dec. 31, 2024, through Virtual Pag-IBIG or at the nearest Pag-IBIG branch.

Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta stressed the readiness of Pag-IBIG Fund to provide assistance to members affected by the disaster.

“We want to assure our members that we will continue to help them recover. Our priority is to help them in every way we can. Our Lingkod Pag-IBIG on Wheels (LPOW) is scheduled to be deployed in various locations in Quezon City, Valenzuela, Malabon, Laguna, Batangas, and Bicol.”

“Through our LPOW, Pag-IBIG members can submit their applications for Calamity Loans to aid in their quick recovery, apply for insurance if their houses mortgaged under the Pag-IBIG Fund are damaged, and apply for Housing Loans for major repairs . Our members can always count on us for timely and reliable assistance, especially in times of need,” added Acosta.

Members can also apply for Disaster Loan or Multi-Purpose Loan online through Virtual Pag-IBIG.

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