Members residing or working in areas declared under a state of calamity – including areas in Region IV-A, Ilocos Region, Cagayan Valley Region, Region V, Region VIII, and NCR – may apply for Calamity Loans and one-month Housing Loan payment Moratorium to alleviate their financial difficulties and allocate their funds toward more immediate recovery needs.
“Pag-IBIG Fund is here to provide support to our Filipino workers who are facing financial difficulties caused by Typhoon Kristine through the availability of the Calamity Loan and the grant of one-month housing loan payment moratorium. We want to provide relief to our members in the hardest-hit areas as they recover from the impact of the typhoon. In line with President Ferdinand Marcos, Jr.'s call, we are dedicated to extending all necessary support to help them recover and rebuild,“ said Secretary Jose Rizalino L. Acuzar of the Department of Human Settlements and Urban Development and Chairperson of the 11-member Pag-IBIG Fund Board of Trustees.
The Pag-IBIG Calamity Loan is one of the agency's Short-Term Loan programs designed to provide relief and support to members residing or working in areas declared under the State of Calamity. Qualified members can borrow up to 80% of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer's contributions, and accumulated dividends earned. The loan is offered at a low annual interest rate of only 5.95%, with payment terms of 24 or 36 months, and the first payment deferred for three months.
For members who need financial assistance in areas not declared under a State of Calamity, the Pag-IBIG Multi-Purpose Loan is available to help them recover from the aftermath of the typhoon.
Meanwhile, under the one-month Housing Loan payment moratorium, payments on members' Housing Loans or installments will be suspended for the approved period at no additional cost. Eligible members may apply for the availment of the moratorium program until 31 December 2024, either through the Virtual Pag-IBIG or at the nearest Pag-IBIG branch.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta emphasized the readiness of Pag-IBIG Fund in providing aid to members affected by the calamity.
“We want to assure our members that we will remain proactive in helping them recover. Our immediate priority is to give them assistance in all the ways we can. Our Lingkod Pag-IBIG on Wheels (LPOW) are scheduled to deploy in various areas in Quezon City, Valenzuela, Malabon, Laguna, Batangas, and Bicol.“
“Through our LPOW, Pag-IBIG members may submit their Calamity Loan applications to aid in their immediate recovery, file for insurance claims if their homes mortgaged under Pag-IBIG Fund are damaged, and file for a Housing Loan for major home repairs. Our members can always count on us for timely and reliable assistance, especially in times of need,“ Acosta added.
Members may also apply for a Calamity Loan or Multi-Purpose Loan online through the Virtual Pag-IBIG.
SOURCE: Virtual Pag-IBIG
01. Create a Budget: Track your income and expenses to see where your money is going. Stick to a budget to avoid overspending.02. Set Savings Goals: Determine what you're saving for (e.g., emergency fund, vacation, down payment) and set realistic targets.
03. Cut Unnecessary Subscriptions: Cancel subscriptions and memberships you don’t use regularly.04. Shop with a List: Avoid impulse buying by making a shopping list and sticking to it.05. Cook at Home: Eating out can be expensive. Plan meals and cook at home to save money.06. Buy Generic Brands: Opt for generic or store brands instead of name brands to save on groceries and household items.07. Reduce Energy Usage: Lower your utility bills by turning off lights when not in use, using energy-efficient appliances, and reducing heating and cooling costs.
08. Use Coupons and Discounts: Look for coupons, discounts, and deals before making purchases.09. Buy in Bulk: Purchase non-perishable items in bulk to save money in the long run.10. Compare Prices: Use price comparison websites and apps to find the best deals.
11. Automate Savings: Set up automatic transfers to your savings account to ensure you save consistently.12. Use a Savings Account with High Interest: Choose a savings account that offers a higher interest rate to maximize your savings.13. Avoid Unnecessary Fees: Be mindful of bank fees, late payment fees, and other charges that can add up over time.
14. Pay Off High-Interest Debt: Focus on paying off high-interest debt (like credit cards) to reduce the amount of interest you pay.15. Consolidate Debt: Consider consolidating your debt to lower your interest rate and simplify payments.
16. DIY Whenever Possible: Do-it-yourself projects can save money on home repairs, gifts, and other expenses.17. Limit Entertainment Costs: Look for free or low-cost entertainment options, such as parks, libraries, and community events.18. Use Public Transportation: Save on gas, parking, and maintenance by using public transportation, carpooling, or biking.
19. Wait Before You Buy: Implement a waiting period (e.g., 24 hours) before making non-essential purchases to determine if you really need them.20. Track Your Progress: Regularly review your budget and savings goals to stay motivated and make adjustments as needed.
%20Program.jpeg)
