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Saturday, 11 August 2012

PAG-IBIG Calamity Loan for Flood Victims Now Available!

Home Development Mutual Fund (PAG-IBIG) has announced that areas declared under State of Calamity can now avail of its Calamity Loan fund.

LOAN PURPOSE

The program provides financial assistance to Pag-IBIG member-victims in calamity-stricken areas.

BORROWER ELIGIBILITY

Member must have made at least 24 monthly contributions.

Member is actively paying contributions at the time he applies for a loan, and commits to continuously remit contributions for the term of the loan. A resident of the area which is declared calamity-stricken.



LOAN AMOUNT

The member is entitled to borrow up to 80% of the Total Accumulated Value (TAV) of his savings.

For members with existing MPLs, the outstanding loan balance shall be deducted from the proceeds of the calamity loan.

LOAN PERIOD/RENEWAL

The loan shall be amortized over a period of 24 months with a grace period of 5 months.

Should another calamity occur in the same area, a borrower may renew his calamityloan any time. The outstanding balance of his existing loan, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the new loan.

AVAILMENT PERIOD

The Pag-IBIG member-victim must avail himself of the Pag-IBIG Calamity Loanwithin a period of 90 days from the occurrence of the calamity.

AREAS UNDER STATE OF CALAMITY

NCR:

Malabon
Manila
Marikina
Muntinlupa
Navotas
Pasay
Pasig
Pateros
Valenzuela

Region III:

Bugallon, Pangasinan

Region IV-A:

Laguna
Cavite
Batangas (San Luis and Lemery)
Rizal (San Mateo, Cainta, Rodriguez)
Bulacan
Bataan
Pampanga
Zambalex

Region IV-B:

San Jose, Occidental Mindoro

Region VI:


Vallodolid, Negros Occidental

Region VII:

Talisay City, Cebu

REQUIREMENTS

PAG-IBIG Calamity Loan Form (download HERE)
Declaration of being affected by calamity Form
Photocopy of Company ID of borrower
Photocopy of ID with address
Photocopy of 1 month latest payslip
Photocopy of Cedula

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