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Aug 6, 2024 · Finance Secretary Recto Highlights Pandemic Debt Burden and Future Economic Growth Potential. The Philippines still owes a lot of money because the old government took out loans that must be...
- Table of Contents
- What Is A Pag Ibig Calamity Loan?
- Who Are Qualified to Avail of The Pag Ibig Calamity Loan?
- When Can I Avail of The Pag Ibig Calamity Loan?
- What Is The Coverage of The Pag-Ibig Calamity Loan Program?
- How Much May I Borrow from The Pag Ibig Calamity Loan Program?
- How Much Is The Interest Rate For Pag Ibig Calamity Loan?
- What Are The Requirements For Pag Ibig Calamity Loan application?
- How to File For Pag-Ibig Calamity Loan: Two Ways
- How Long Is The Processing Period of The Calamity Loan application?
Aside from the opportunity to finance their dream homes, Pag-IBIG Fund members also enjoy the benefit of getting quick financial assistance in times of calamity. The Pag IBIG Calamity Loan offers immediate financial aid to members living in calamity-stricken areas. In order to qualify, the area must be declared under the State of Calamity1 by the P...
Pag-IBIG Fund members can avail of the calamity loan as long as they meet the following qualification requirements: 1. Must be an actively contributing member with at least twenty-four (24) monthly savings (Do you want to know if you’re qualified? Here’s how to check your Pag-IBIG contributions). If you’ve already withdrawn/claimed your Pag-IBIG co...
Assuming that you meet all the qualification requirements listed in the previous section, you can avail of the calamity loan within a period of ninety (90) days2from the declaration of a State of Calamity.
The loan program is available to qualified members affected by man-made hazards or any of the following natural disasters: 1. Typhoon 2. Storm Surge 3. Tornado 4. Landslide 5. Earthquake 6. Tsunami 7. Volcanic Eruption 8. El Niño or La Niña
According to the Pag-IBIG Fund, the loanable amount (i.e., the amount of loan you can borrow) will be based on the LOWESTof the following: 1. Desired loan amount. 2. Loan entitlement – which is equivalent to 80% of the member’s TAV (Total Accumulated Value) or total regular Pag-IBIG savings (meaning your Pag-IBIG MP2 contributionsare excluded), whi...
Taking into consideration the unfortunate situation the borrowers are in, the Pag-IBIG Fund offers the calamity loan with a 5.95% interest rate per annum, the lowest rate in the market. Note that the same interest rate applies during the grace period of three months.
The borrower must submit the following requirements to any Pag-IBIG Fund office: 1. Duly accomplished Pag-IBIG Calamity Loan Application Form or CLAF(available at Pag-IBIG website and offices). 2. Photocopy of at least 1 valid IDacceptable to the Fund. Acceptable IDs3include: 1. Passport 2. Driver’s License 3. PRC ID 4. NBI Clearance 5. Police Clea...
Option 1: Walk-in Application
Update: Pag-IBIG Fund branches are now open in most areas of the country due to less strict pandemic protocols. For instance, NCR branches4are open from 9 AM to 3 PM and have drop boxes for Multi-Purpose Loan and Calamity Loan applications. You can apply for a calamity loan at any Pag-IBIG office within 90 days after your place of residence or work has been put under the State of Calamity, provided that Pag-IBIG offices remain open and a nationwide lockdown hasn’t been implemented. Here’s how...
Option 2: Online Application
During instances when all Pag-IBIG offices are required to close temporarily and a nationwide calamity forces everyone to stay at home, members are encouraged to submit their loan applications online. Such is the case with the pandemic in 2020 that prompted President Rodrigo Duterte to sign Proclamation 9295, placing the whole country under the State of Calamity. The pandemic has led to an unprecedented number of job losses and business closures, hence the need for immediate financial aid for...
Upon submission of the requirements, it will usually take less than two daysfor the application to be processed and the loan proceeds to be released.
Gamit ang smartphone o computer, punan ang MPL o Calamity Loan Fillable Application Form na maaaring ma-download mula sa Pag-IBIG Fund website. I-save ang kinumpletong form. Hindi niyo na kailangan i-print at pirmahan ang fillable form na ito.
Feb 2, 2023 · You can still apply for a Pag-IBIG Multi-Purpose Loan even if you have existing loans with Pag-IBIG, like a Calamity Loan. Your loanable amount will be the difference between your current loan balance and 80% of your contribution's Total Accumulated Value (TAV).
- Delays in monthly payments will be penalized daily with one-twentieth of one percent (1/20 of 1%) of the unpaid amount.
- Borrowers who fail to pay on time will still be charged with penalties. However, the penalty will be reversed upon submission of proof that the emp...
- You can renew your multi-purpose loan after paying an amount equivalent to six monthly installments. However, you may also need to check if you’re...
You may pay your Pag-IBIG Housing Loan in a number of convenient ways, which include: A collection servicing arrangement with your employer (if employed), who will then remit your monthly payments to Pag-IBIG Fund;
The Pag-IBIG Multi-Purpose Loan or MPL is a cash loan designed to help qualified Pag-IBIG Fund members with any immediate financial need. 2 Where can I use the Pag-IBIG MPL? 3 How do I qualify for the Pag-IBIG MPL? 4 How much can I borrow under the Pag-IBIG MPL? 5 How do I apply for a Pag-IBIG MPL?
People also ask
Can I apply for a Pag-ibig multi-purpose loan if I have a calamity loan?
What is a Pag-ibig multi-purpose loan (MPL)?
How does Pag-ibig calamity loan work?
How do I apply for a Pag-ibig multi-purpose loan?
How long does it take to get a Pag-ibig loan?
Should I pay my Pag-ibig multi-purpose loan on time?
Access our Online Housing Loan Application System by clicking “continue”. Rates are effective as of January 1, 2024 and may change without prior notice.
