MANILA, July 26 ------ Calamity loans will be available for members severely affected by super typhoon Carina, Pag-IBIG Fund said. The agency has allocated calamity loan funds to help affected members in Metro Manila, Cainta, Baco and Batangas province, with additional funds to be released for other areas to be placed under a state of calamity. “Pag-IBIG Fund is ready to support ouf 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,” Secretary Jose Rizalino Acuzar of the Department of Human Settlements and Urban Development said in a statement.
Qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings. The loan has an interest rate of 5.95 percent, with payment terms of 24 or 36 months. The first payment is also deferred for two months. Members who need financial assistance in areas not declared under a state of calamity can avail of the Pag-IBIG Multi-Purpose Loan.
Interested members who have internet access may apply online through the Virtual Pag-IBIG account. Members whose employers are enrolled with STL online with Employer Interface may also submit their applications via the Virtual Pag-IBIG for Employers.
Copies of all accomplished applications may also be submitted to the members’ respective company fund coordinators for processing. Pag-IBIG said it has released a total of P35.32 billion in cash loans from January to June of this year, assisting 1.50 million members.
Source: news.abs-cbn.com
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