Pag-Ibig offers loans to typhoon-hit Pangasinan

Pag-Ibig offers loans to typhoon-hit Pangasinan

 

by April M. Montes

 

 

DAGUPAN CITY, Sept. 6 (PIA) – The Home Development Mutual Fund (Pag-IBIG) has started receiving calamity loan applications from members living in areas proclaimed under state of calamity.

 

“The calamity loan program is an urgent measure to promptly respond to flood-hit members who need some respite while returning to their normal lives,” said Information Officer Annaliza Natavio during the ‘Pantongtongan Tayo’ radio program of PIA-Pangasinan last Tuesday.

 

Natavio said members from the municipalities of Umingan, Aguilar, Binmaley, Calasiao, Mangatarem and Sta. Barbara can avail of the calamity loan as these communities were affected by typhoon Labuyo and monsoon rains.

 

Members from the 19 barangays in Dagupan City pronounced by the Sangguniang Panlungsod under the state of calamity can also apply for calamity loan, she said.

 

These villages are Pantal, Lasip Chico, Lasip Grande, Pogo Chico, Pogo Grande, Malued, Bacayao Sur, Bacayao Norte, Mayombo, Calmay, Lucao, Herrero Perez, Barangay 2 and 3 (merged), Poblacion Oeste, Tapuac, Bonuan Boquig, Bonuan Gueset, Barangay 1 and Salapingao.

 

To be entitled, the member must have at least 24 monthly contributions (whether continuous or broken), an active member of the Pag-IBIG program or having made five contributions within the last six months prior to the application.

 

A member may loan up to 80 percent of one’s total accumulated value (TAV) with an interest rate of 5.95 percent per annum. TAV is equivalent to member’s contribution plus employer’s contribution plus earned dividends, said Natavio.

 

Processing time for new loans is three working days to one week upon application while for loan renewals, it is two to three weeks. The loan is payable up to 24 months, three months reprieve and would start payments on the fourth month, she said.

 

Documentary requirements for the loan application include a completely filled-up application form indicating the member’s identification number (MID) in the form; if none yet, a member must submit duly accomplished Member’s Data Form with the loan application form; and two valid IDs with the member’s address.

 

Those who are interested and qualified are enjoined to read the calamity loan guidelines at www.pagibigfund.gov.ph. For inquiries, one can visit the Pag-IBIG Fund office at Perez Boulevard corner Guilig Street, Dagupan City or call (075) 522-3865 and 522-3266. (MCA/AMM/PIA-1, Pangasinan)

 

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