MANILA, Philippines — Acting on President Ferdinand Marcos Jr.’s directive to deliver immediate support to Filipinos in disaster-hit areas, the Pag-IBIG Fund mobilized its calamity loan program to extend assistance to its members affected by Severe Tropical Storm “Crising.”
As a result, Pag-IBIG branches nationwide have been instructed to closely coordinate with local government units for the deployment of its mobile branch, the Lingkod Pag-IBIG On-Wheels, the agency’s Chief Executive Officer, Marilene C. Acosta, said.
Acosta said the mobile branch could receive applications for loans from members, as well as insurance claims from current Pag-IBIG Housing Loan borrowers whose properties have been damaged due to the storm.
“When calamities strike, we at Pag-IBIG understand that our members in affected areas need immediate financial assistance. For this reason, we make sure that all our services and benefits remain accessible to our members,” she said.
Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Ramon Aliling reiterated Pag-IBIG’s readiness to assist its members affected by the severe tropical storm through its calamity loan.
“We continue to closely monitor developments and are prepared to provide immediate aid in areas that may be declared under a state of calamity in the coming days,” said Aliling, who also heads the 11-member Pag-IBIG Fund Board of Trustees.
“This is part of our continuing effort in heeding the call of President Marcos to deliver timely relief and support to those in need,” the housing czar stressed.
Under the Calamity Loan Program, qualified members may borrow up to 90 percent of their total Pag-IBIG Savings, which consist of their monthly savings, employer counterpart contributions, and earned dividends.
The loan carries an interest rate of 5.95 percent per annum, the lowest for cash loans in the market, and is payable over a period of up to three years, with a three-month grace period before the first payment is due, the agency said.
Also, members may file their loan applications within 90 days from the declaration of a state of calamity in their area, it added.
Acosta, in a statement emailed to The Manila Times, said its branches would remain open and were ready to receive loan applications and housing loan insurance claims “even while our offices and personnel in typhoon-hit areas have also been affected.”
She said the Lingkod Pag-IBIG On-Wheels would initially go around these areas once roads were accessible, to further bring its services closer to its members who are most in need.
For members who have internet access, the Virtual Pag-IBIG is ready to accept their calamity loan applications online, the top Pag-IBIG official said.
“During these trying times, our members can continue to count on Lingkod Pag-IBIG,” Acosta said.
