Pag-IBIG releases P601-M calamity loans for members
The Pag-IBIG fund has approved the release of over P601 million in calamity loans to more than 37,000 Fund members affected by typhoons “Pedring” and “Quiel.”
Vice President Jejomar C. Binay, concurrent chairman of the Pag-IBIG Board of Trustees, revealed this Monday, adding that the Board has directed the deployment of Pag-IBIG employees in more areas affected by the flooding to accept calamity loan applications “We would like to assure our members that Pag-IBIG will always be ready to extend assistance to them whenever they need it,” Binay said.
“We expect more members to file their applications in the coming weeks as the program is open within a period of 90 days from the time their areas are declared under a state of calamity,” lawyer Darlene Marie Berberabe, Pag-IBIG Chief Executive Officer (CEO), said.
Berberabe said many of those who applied for the loans were members under the Fund’s Baguio, Malolos, Pampanga, and Caloocan branch offices. Loans were also filed with various branches in the National Capital Region, in its various offsite centers.
Berberabe added that “Pag-IBIG had set up receiving centers to accept applications for calamity loans in Marikina, Valenzuela, Cabanatuan, and Aurora so that we can better reach members who were affected by these calamities.”
The Pag-IBIG Fund’s calamity loan program is open to qualified members residing in areas affected by natural calamities. Under this program, an affected member may avail of as much as 80 percent of his total savings, payable in 24 months with a grace period of 5 months.
The loan program, according to the CEO, “is the Fund’s way of helping its members get back on their feet after the typhoons that struck the country.”
Manila Bulletin
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