Details about the Pag-IBIG Calamity Loan Amount Members May Borrow
Here is a guide on the Pag-IBIG Calamity Loan amount for the members of the Fund in areas declared under a state of calamity.
Are you one of the millions of members of the Pag-IBIG Fund? It is a government agency with a multi-million member populace composed of individuals coming from different walks of life — locally-employed, self-employed, overseas Filipino workers (OFWs), and voluntary members.
The Fund has several offices across the nation which delivers several kinds of services to its members. It is most popular for its Housing Loan offer but it actually has several loans that qualified members may turn to. It is important to regularly post monthly contributions to keep your Pag-IBIG account active and updated.
One of the loan offers of the Pag-IBIG Fund is the Pag-IBIG Calamity Loan. It was crafted as a ready assistance for members living in areas struck by a calamity whether it is typhoon, tornado, flood, storm surge, volcanic eruption, tsunami, or another natural disaster.
How much you may borrow under the Pag-IBIG Calamity Loan offer? The amount may vary but it actually depends on the total regular savings of the member, his/her employer’s contributions, and the accumulated dividends earned by the regular savings of the member.
The maximum Pag-IBIG Calamity Loan amount is up to 80% of the total savings of the member-borrower. For example, if the total regular savings of the member is Php 10,000, he/she may borrow up to Php 8,000 under the loan offer.
In case you have an existing Multi-Purpose Loan or Calamity Loan, the balance will be deducted from the proceeds of your newest Calamity Loan. The Fund implements a 5.95% interest rate per annum and the loan is payable within three (3) years or 36 months.