Published: August 11, 2021 | Updated: August 16, 2021 | Posted by: Moneymax | Government Services
The Philippines’ geographic location makes it vulnerable to natural calamities like volcanic eruptions, storm surges, flooding, landslides, and drought. This exposes Filipinos in any part of the country to tragic incidents and severe distress and losses. Those who are affected by these calamities are eligible for different forms of assistance, including monetary aid or ayuda from the government, Pag-IBIG calamity loan from the Pag-IBIG Fund, SSS loan, and other relief operations.
In this article, we’re going to discuss the financial aid for members of the Home Development Mutual Fund or more popularly known as the Pag-IBIG Fund. The government agency offers cash assistance to calamity-stricken members through the Pag-IBIG calamity loan.
Learn all about this loan program, its deadline, interest rates, and steps to applying online in this guide.
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The Pag-IBIG Fund Calamity Loan Program is a cash loan facility that assists Pag-IBIG Fund members recently affected by a calamity.
Here are the basic features and fees of this loan assistance program:
Once the fund announces that calamity loans are now available, you can apply up until 90 days after the declaration of a state of calamity in your area.
A state of calamity is a condition or situation where an area or people suffer terrible loss, severe impact, or lasting distress brought by natural disasters and man-made situations.
The government declares a state of calamity according to the following factors:
Pag-IBIG members who fulfill the following requirements can apply for a calamity loan:
*The Pag-IBIG Fund allows calamity loan application for members affected by any of the following events:
Pag-IBIG Fund also allows those who reside or work in areas under the enhanced community quarantine (ECQ) to apply for a calamity loan.
In addition to the eligibility criteria, you need to submit the following documents when applying for a calamity loan from Pag-IBIG:
Back to the main article: 9 Pag-IBIG Benefits You Probably Didn’t Know Yet
If you are a qualified Pag-IBIG member, you can borrow up to 80% of your total Pag-IBIG regular savings. This includes your monthly contributions as well as your employer’s contributions. This Pag-IBIG calamity loan amount may also consist of any accumulated dividends earned. However, if you have an outstanding multi-purpose or calamity loan, your existing loan balance will be deducted from the amount you will receive.
Pag-IBIG Fund members can apply for a calamity loan through their company’s HR representative. Here are the steps when doing so:
The pandemic has redefined the Pag-IBIG loan application process. Pag-IBIG branches are open from 9 a.m. to 3 p.m. (in ECQ and MECQ areas) or 8 a.m. to 5 p.m. (in GCQ and MGCQ areas) during weekdays, accommodating only the following transactions related to calamity loans:
If you wish to submit your Pag-IBIG calamity loan application to the nearest branch, you need to complete your requirements and place them on the dropbox designated for short-term loan applications. After submission, wait for a Pag-IBIG Fund representative to inform you whether the application is verified and will be processed.
Pag-IBIG Fund members can also apply for a calamity loan online via the Virtual Pag-IBIG. Here are the steps to follow:
Yes, your pag-ibig calamity loan online application in 2021 can also be done through email. According to Pag-IBIG, email filing of loan applications is now considered the safest way to avail of the loan amid the pandemic.
Here are the Pag-IBIG calamity loan interest rates and fees. Take note of these before submitting your application:
The employer’s signature proves the legitimacy of your application and your capacity to repay the loan.
There is no need to submit a payslip because the Employer Confirmation of STL Application is enough to prove that you’re eligible to borrow via MPL or calamity loan program. It also signifies your company’s agreement to deduct the payment from your monthly salary.
Keep in mind that the deadline for calamity loan application is 90 days after the declaration of State of Calamity in your area. If your city or province was affected by a calamity, make sure to file your loan application within the given timeframe.
The following are the designated email addresses depending on your employer’s main office location:
For members and employers covered by branches in GMA Kamuning, Quezon Avenue, Commonwealth Avenue, Cubao, Marikina, Caloocan – EDSA, Valenzuela, Pasig, Mandaluyong – Shaw Zentrum and Antipolo branches
For members and employers covered by Makati-Buendia I, Binan, Makati-Ayala Avenue, Makati-Buendia II, Makati-JP Rizal, Taguig – Gate 3 Plaza, Guadalupe-EDSA, Muntinlupa, SM Aura, Intramuros, Sta. Mesa, Binondo, Pasay, Las Pinas-Robinsons Place, Paranaque, Imus, Rosario, and Dasmarinas branches
For members and employers covered by La Union, Laoag, Vigan, Dagupan, Urdaneta, and Baguio branches
For members and employers covered by Tuguegarao, Solano, and Cauayan branches
For members and employers covered by San Fernando, Tarlac, Angeles, SBMA, Balanga, Malolos, Baliwag, Cabanatuan, and Meycauayan branches
For members and employers covered by Lucena, Batangas, Lipa, Calamba, San Pablo, Sta. Rosa, Calapan, and Palawan branches
For members and employers covered by Legazpi and Naga branches
For members and employers covered by Cebu-Ayala, Dumaguete, Talisay, Toledo, Cebu-Colon, Mandaue, Danao, Mactan, Tagbilaran, Tacloban, Calbayog, and Ormoc branches
For members and employers covered by Iloilo-Manduriao, Iloillo-Molo, Kalibo, San Jose de Buenavista, Roxas, Bacolod, Kabankalan, and Sagay branches
For members and employers covered by CDO-Lapasan, CDO-Carmen, Valencia, Butuan, San Francisco, Surigao, and Iligan branches
For members and employers covered by Zamboanga, Dipolog, and Pagadian branches
For members and employers covered by Davao-Bajada, Davao-Matina, Davao-Lanang, Digos, Tagum, Panabo, General Santos, Polomolok, Koronadal, Kidapawan, and Cotabato branches
The loan processing time for calamity loan applications is typically three to seven working days. However, expect delays as a review of documents can take longer because of the surge of applications, and the skeletal workforce due to COVID-19 health protocols.
You’ll receive a text message if your loan is already credited to your cash card or loyalty card. Remember, there is no fee for this transaction.
You can get the calamity loan amount through any of the following methods:
You can pay your calamity loan within 24 months, with a grace period of three months. The payment period begins on the fourth month following the check date.
You can pay for your calamity loan through any of the following methods:
If you fail to pay any three consecutive monthly amortizations, Pag-IBIG will try to collect your overdue payment by sending a Collection Notice (via post or email), texting, or calling you.
But if you still can’t make the payment, your unpaid Pag-IBIG calamity loan, its interest, and penalty will be deducted from your Total Accumulated Value or TAV. Your TAV is the sum of your monthly contribution and any earned dividends from Pag-IBIG Fund.
Yes, you can apply again for a calamity loan from Pag-IBIG anytime when another calamity happens in your area. The Pag-IBIG Fund will deduct the outstanding balance of your existing loan (plus the accrued interest and penalties) from the proceeds of your new calamity loan.
Typhoons, earthquakes, and a pandemic like COVID-19 can greatly affect a person’s finances. Good thing, we can take advantage of government financial programs such as the Pag-IBIG calamity loan to help us recover from the damages and impacts of calamities we experience. Make sure to take note of the requirements and criteria before applying for a smooth process both offline and online.
Found yourself in a tough financial spot after a calamity? Worry not because there are different ways to financially recover from it. Aside from the Pag-IBIG calamity loan, you may borrow money from other lenders to cover your emergency cash needs. Take a look at your options below.
|Personal Loan Provider||Features|
|Citibank Personal Loan|| |
|EasyRFC Multi-Purpose Loan|| |
|SB Finance Personal Loan|| |
|TALA Personal Loan|| |
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