Pag-IBIG offers calamity loan for Egay victims in Cordillera

Baguio City, Philippines – Immediate financial aid is being offered for ‘Egay’-affected members of Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno (Pag-IBIG) Fund in Cordillera.

To qualify for the agency’s calamity loan, one must have at least 24 monthly membership savings under the Pag-IBIG regular savings; must be an active member with at least one monthly membership savings within the last six months prior to the date of loan application; and must be living in area declared under the state of calamity.

In the region, state of calamity was earlier declared in the provinces of Abra, Mt. Province and Apayao due to the adverse impact of the super typhoon.

Under the said loan, eligible members may borrow up to 80 percent of their total Pag-IBIG savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned.

The loan is offered at a rate of 5.95% per annum - the lowest rate in the market, payable within three years, with the initial payment due on the 3rd month after the loan release.

Qualified borrowers may apply for the calamity loan within 90 days from the date when an area has been declared under a state of calamity.

Those interested only need to accomplish loan application form which can be accessed through https://www.pagibigfundservices.com/virtualpagibig/STLReminder.aspx; provide at least one valid identification card; and their cash card, which can be their Loyalty Card Plus issued by Asia United Bank (AUB), Union Bank of the Philippines, LandBank of the Philippines (LBP), or United Coconut Planters Bank (UCPB) Cash Card

They can submit the requirements through the Virtual Pag-IBIG or by dropping them by at the nearest agency branch.

“Maganda kasing i-avail ito dahil kahit hindi pangkalakihan ang makuha nila, kahit makakuha sila ng limang libo o sampong libo napakababa po ng interest po nito. Gusto po nating ulit-ulitin na hindi kami nagkakaltas ng interest in advance, wala kaming processing fee, kaya yung talagang manghihiram na miyembro ay buo na mae-enjoy niyo talaga ang loan amount,” said the Head of Marketing and Sales of Pag-IBIG Fund – Baguio Philip Raymund Salem in his interview with PTV Cordillera.

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