Guide on the Pag-IBIG Calamity Loan Interest Rate 2024 for Members
PAG-IBIG CALAMITY LOAN INTEREST RATE 2024 – Here is a guide on the interest that your Calamity Loan from the Pag-IBIG Fund may incur.
In the Philippines, a huge part of the Filipino populace is composed of individuals who are members of the Pag-IBIG Fund. Most of them are locally-employed individuals in the public and private sector under a compulsory membership.
Every month, members of the Pag-IBIG Fund submit a monthly contribution to the government agency. In the case of locally-employed individuals, the contribution is usually under payroll deduction and submitted by the company to the government agency.
A Pag-IBIG Fund membership has a lot of benefits. One of them is that a member has something to turn to in times of natural disasters. A member may apply for the offer in case any of the following leaves his/her workplace or place of residence under a state of calamity:
- Typhoon
- Landslide
- Earthquake
- Tsunami
- Storm Sruge
- Volcanic Eruption
- Tornado
- El Niño and La Niña phenomena
The Fund has set a few qualifications under the loan offer. To be eligible to apply for the loan offer, here are the eligibility requirements set by the government agency under the loan offer:
- a minimum of twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings
- in active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- has proof of income
- If with an existing Pag-IBIG Housing Loan, Multi-Purpose Loan and/or Calamity Loan, the account/s must not be in default
The loanable amounts under the Pag-IBIG Calamity Loan 2024 offer may vary. The amount borrowed from the Fund is subject to the Pag-IBIG Calamity Loan interest rate which is at 5.95% per annum. The loan is payable within three (3) years or 36 monthly contributions.
The Pag-IBIG Calamity Loan interest rate applies until the loan is fully-paid. The member also has the option to make the payments for the loan in two (2) years or 24 monthly installments.
In applying for the loan offer, submit the requirements for Pag-IBIG Calamity Loan 2024 application. The list is shorter compared with the required documents under the other loan offers of the Fund.
