Pag-IBIG Fund is now accepting Calamity Loan Applications from members who were affected by the recent flooding in Cagayan de Oro City.
To avail of the loan, the member-borrower must have at least 24 remitted monthly savings (MS) and at least five months updated MS payment for the last six months.
Also allowed to avail the loan are members with existing housing loan accounts and multi-purpose loan (MPL) and/or calamity must not be in default as of date of application. The outstanding loan balance of the MPL shall not be deducted from the proceeds of the calamity loan.
Furthermore, members who are residents of the area which is declared calamity stricken are the ones who can apply for the loan.
An eligible member is entitled to avail 80 percent of his or her total accumulated value (TAV). The TAV comprises the member’s personal share, employer counterpart and earned dividends.
The member must submit the duly accomplished Pag-IBIG Fund Calamity Loan application form, photocopy of his or her two valid and unexpired identification cards that are duly authenticated by the head of office or the latter’s authorized representative, certificate of net take home pay that is duly signed by the employer or the company’s authorized representative, and stencil of the member’s unexpired cash card.
All government employees are subject to the net take home pay requirement of the General Appropriations Act in the amount of P3,500.
The duly submitted calamity loan application forms and all the attached documents, as required, are subject to final evaluation.
Pag-IBIG members may submit their calamity loan application forms and duly required attachments thru their respective Fund Coordinators.(Pag-IBIG Fund/PIA10)