Pag-IBIG Fund Loans Covered by 60-Day Loan Moratorium

60-Day Moratorium Applies on Pag-IBIG Fund Loans Amid COVID-19 Pamdemic

PAG-IBIG FUND LOANS – The loans to Pag-IBIG are covered by a 60-day loan moratorium amid the COVID-19 crisis in the Philippines now.

The Philippines is currently dealing the COVID-19 crisis. For several months now, the whole country is under community quarantine measures in the efforts to curb the spread of the disease.

Everyone is encouraged to stay at home. Unfortunately, the present situation in the country has led to the closure of several businesses in the Philippines.

For several months, many businesses only have expenses to pay and no profits to count. Also, several businesses even had to declare bankruptcy due to the impact of the pandemic.

Considering that many people lost their job amid the COVID-19 pandemic, the national government passed the Bayanihan 2 which includes ways to ease the lives of Filipinos amid the crisis.

Under the Bayanihan 2 which was recently approved, a 60-day moratorium is applied on several types of loans. These include the loans to government agencies.

Do you have Pag-IBIG Fund loans? Your loans were granted a 60-day grace period as confirmed by Chairman of the Department of Human Settlements and Urban Development and the 11-member Pag-IBIG Fund Board of Trustees Secretary Eduardo D. del Rosario.

The move is in compliance to the Bayanihan 2 or the Republic Act No. 11494. It is stated in the law that no penalties or charges are to be implemented on loans under the 60-day moratorium.

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