CALAMBA CITY, Laguna – The Home Development Mutual Fund or Pag-IBIG Fund in Region 4-A (Calabarzon) announced on Tuesday that it is still offering calamity loans to members in areas declared under a state of calamity due to the impact of Severe Tropical Storm (STS) Kristine (Trami).
The storm affected provinces across Luzon and the Bicol Region, including Calabarzon, submerging many areas under floodwaters, and causing landslides in some communities.
During the Kapihan sa Bagong Pilipinas forum at Hotel Marciano here, Nanette Abilay, Pag-IBIG Acting Vice President for Home Lending Operations – Luzon Group, confirmed that members in these areas may still apply for calamity loans.
Members may go to any Pag-IBIG office near them near them to inquire about insurance coverage for any damage caused by the storm, she said.
Abilay explained that the Pag-IBIG calamity loan is equivalent to 80 percent of a member’s total Pag-IBIG Regular Savings, with an interest rate of 5.95 percent per year. The loan can be repaid over 24 or 36 months, and the first payment is deferred for three months.
“Qualified members must apply within 90 days from the declaration of a state of calamity in their area,” she noted.
As a result of the impact of STS Kristine, the provinces of Cavite, Laguna, Batangas, and Quezon were placed under a state of calamity starting Oct. 24, or a day after the onslaught.
Meanwhile, Abilay also shared that from July 2022 to September 2024, Pag-IBIG Fund has released a total of PHP1.90 billion in calamity loans and PHP14.90 billion in Multi-Purpose Loans (MPL) within the Calabarzon region.
Moreover, aside from calamity loan, she announced that Pag-IBIG Fund has approved a one-month moratorium for housing loan payments of “Kristine” victims residing and working in areas declared under a state of calamity until Dec. 31, for which they have to apply for the availment of the moratorium program through Virtual Pag-IBIG or at the nearest Pag-IBIG branch.
Abilay encouraged members to take advantage of Virtual Pag-IBIG, which gives online services 24/7, offering greater convenience and time savings compared to in-person transactions.
“Simply obtain your permanent Pag-IBIG Membership ID (MID) number, and you can access Pag-IBIG Fund services anytime, anywhere,” she added. (PNA)