Details about the Pag-IBIG Calamity Loan Amount Allowed for Member Borrowings
PAG-IBIG CALAMITY LOAN AMOUNT – Here is a guide on how much you may borrow under the Pag-IBIG Fund loan offer.
Updated memberships to government agencies bring huge benefits like in the times of natural disaster. Most of these state entities provide calamity loans that you may turn to which can really be beneficial and you may not realize it until there’s a call for help.
In the Philippines, one of the government agencies that offer a Calamity Loan is the Pag-IBIG Fund. The state entity is in the service of the Filipino people for decades already and countless members have availed the said loan offer.
The Pag-IBIG Calamity Loan is open for members who are living in areas declared under a State of Calamity. It was designed to help the members in recovering from the impacts of the natural disaster.
Truth be told that a calamity can leave damages on properties and loss of lives and the recovery may require a lot. How much can a qualified member borrow under the Pag-IBIG Calamity Loan?
The Pag-IBIG Calamity Loan amount allowed for borrowing is equivalent to “80% of their total Pag-IBIG Regular Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned”.
According to the Fund, in case the member has an existing Multi-Purpose and/or Calamity Loan, the Pag-IBIG Calamity Loan amount allowed for borrowing will be the difference between the 80% of the member’s Pag-IBIG Regular Savings and the outstanding balance of your loan/s.
The more savings in your Pag-IBIG Regular Savings account, the higher the loanable amount will be. With regards to the interest rate, it is at 5.95 percent per annum.
The Pag-IBIG Calamity Loan is payable within three (3) years or 36 monthly installments. There is an easy process in applying for the loan offer:
