Guide on How Much Can Be Borrowed Under the Pag-IBIG Calamity Loan
PAG-IBIG CALAMITY LOAN – Here is a guide on how much a Taal volcano eruption victim-member can borrow under this Pag-IBIG Fund loan offer.
One of the biggest national concerns lately is the recent eruption of the Taal Volcano. It affected thousands of people causing hundreds of families to evacuate for their safety.
The authorities raised the warning to Alert Level 4. It remained on that level for several days until recently that it was downgraded to Alert Level 3. Sadly, it left several areas covered by thick ashes.
A lot of animals and plants also died due to the massive ash fall in the areas near Taal Volcano. Many families could not get back to their source of living considering the situation.
In line with the struggles that are now in front of the Taal victims, several government agencies acted and assured assistance to their members. One of it is the Pag-IBIG Fund.
Based on a report on ABS-CBN News, the Taal victims-members may apply for Pag-IBIG Calamity Loan for some cash assistance. The victims are prioritized by the government agency.
“Madali ‘yong pagpa-process nila kasi priority po nila ‘yong katulad namin naapektuhan,” Erlyn Martinez, a Taal volcano eruption victim, said.
Based on the report, under the Pag-IBIG Calamity Loan, up to 80% of the savings can be borrowed by the Taal Volcano eruption victim-member. The interest rate is at 5.9% in two (2) years.
According to Pag-IBIG Member Services Operations Senior Vice President Amando Dizon III, there is a grace period under the said loan offer. The borrower may not pay for the monthly due right away as there is a three-month grace period.
With regards to those who have existing Pag-IBIG Cash Salary Loan or multi-purpose loans, the balance will just be deducted from the loan proceeds.
