MANILA – The Pag-IBIG Fund is offering calamity loan assistance to members living or working in typhoon-hit areas with the lowest interest rate at 5.95 percent.
Pag-IBIG Fund Public Relations and Information Services Group vice president Karin-Lei Garcia said members for at least two years and are active contributors for the past six months can borrow up to 80 percent of their savings.
“Proud po kami na ang Pag-IBIG Fund ay ang may pinakamababang interes para sa calamity loan at 5.95 percent per annum po iyan ‘no (We are proud that Pag-IBIG has the lowest interest for calamity loan at 5.95 percent per annum) so per year, that’s good for one year,” she said in a Bagong Pilipinas Ngayon interview on Wednesday.
Calamity loan proceeds can be released in two to three business days as long as the borrower’s records are complete and updated.
The proceeds are transferred to the Pag-IBIG Fund cash card.
Garcia said members who are not affected by calamity can avail of the multi-purpose loan.
The loanable amount is also up to 80 percent of the member’s savings.
Calamity loan and multi-purpose loan applicants need to present a government ID and proof of income, and accomplish an application form.
“As to how long, they can pay, may option po sila (they have options),” Garcia said.
“They can pay within full year or within three years. So, kapag three years po o 36 months, mas magaan po ang amortization sa bulsa (amortization is easier to pay if three years or 36 months).” (PNA)