Here's all you need to know about Pag-IBIG Calamity Loan.
Facing financial challenges due to unforeseen calamities can be overwhelming. In such difficult times, the Pag-IBIG Calamity Loan provides a valuable resource to help you rebuild and recover.
Here’s a comprehensive guide to understanding and applying for the Pag-IBIG Calamity Loan.
HELPFUL ITEMS YOU CAN USE TO SAVE MONEY!
Here's my list of useful items for you to save or earn money wisely:
Shopee is my go-to app for things I needed like the ones above. If you'd like discounts and vouchers, you may get the best offers here:
Pag-IBIG Calamity Loan Eligibility
You can only be allowed for Pag-IBIG Calamity Loan with the following conditions:
- You must be an active Pag-IBIG Fund member with at least 24 monthly contributions.
- You should reside in an area declared under a state of calamity by the National Disaster Risk Reduction and Management Council (NDRRMC) or a local government unit.
Pag-IBIG Calamity Loan Amount
Loanable Amount: You can borrow up to 80% of your Total Accumulated Value (TAV). This includes your personal contributions, employer share, and accumulated dividends.
Maximum Limit: The maximum loanable amount is Php 20,000, regardless of your Total Accumulated Value.
Interest Rate and Repayment
Interest Rate: The Pag-IBIG Calamity Loan has an affordable interest rate of 5.95% per annum.
Repayment Period: You have a 24-month repayment period, with the first payment due on the third month after the loan approval.
Pag-IBIG Calamity Loan Application Process
Document Preparation: Gather necessary documents such as a filled-out Calamity Loan Application Form, a copy of a valid ID, and the Barangay Certificate confirming that your residence is in a calamity-stricken area.
Online Application: Visit the official Pag-IBIG Fund website and fill out the online Calamity Loan application form. Attach the required documents.
Submission: Submit your application and documents through the online portal. Wait for the Pag-IBIG Fund’s verification and approval.
Disbursement of Funds
If you have a Pag-IBIG Cash Card, the loan amount will be credited there. Ensure your card is active and can receive funds.
If you don’t have a Pag-IBIG Cash Card, the loan amount will be issued via check.
- Monthly Payments: Your monthly amortization will be automatically deducted from your salary if you are employed. If you are self-employed or voluntary member, you can pay through accredited collecting partners or over-the-counter at Pag-IBIG branches.
- Early Payment: You can opt to pay the loan in full before the maturity date, saving you on interest payments.
Pag-IBIG Calamity Loan Renewal
If you’ve fully paid your previous Calamity Loan, you can avail of the program again for future calamities, provided your area is declared under a state of calamity.
Importance of Timely Payments
Ensure you pay your monthly dues promptly to maintain a good credit standing with Pag-IBIG Fund. This can make future loan applications smoother.
ATTRACTIONS TO SEE IN MANILA
By understanding the process and requirements, you can make the most of Pag-IBIG Calamity Loan to alleviate financial burdens caused by calamities. Remember, responsible borrowing and timely repayments can pave the way for a more secure financial future.
ACTIVITIES AND TOURS IN MANILA
For inquiries and assistance, you can contact Pag-IBIG Fund’s hotline at 724-4244. Visit the official Pag-IBIG Fund website for comprehensive information, FAQs, and online services.