Details about the Pag-IBIG Calamity Loan Interest Rate 2024 Member-Borrowers Must Be Aware Of
PAG-IBIG CALAMITY LOAN INTEREST RATE 2024 – You can check the details for a guide on the interest rate implemented by the Pag-IBIG Fund.
Have you heard about the other loan offers of the Pag-IBIG Fund apart from the Housing Loan offer which is the greatest contributor of its fame? One of these loans is the Pag-IBIG Calamity Loan that provides the qualified members a safety net in times of natural disaster.
Millions of Filipinos have access to the loans offered by the Pag-IBIG Fund since there are also millions of members of the government-run entity. The member populace is not only composed of individuals residing in the Philippines but as well as those who are working abroad.
Through the Calamity Loan offer of the Pag-IBIG Fund, the government-run entity aims to help its members during unforeseen circumstances of being left in damaged homes and source of living due to a natural disaster.
The Pag-IBIG Calamity Loan offer covers the impacts of typhoon, earthquake, tsunami, storm surge, El Niño and La Niña phenomena, etc. Here are the qualifications set by the Fund under its loan offer:
- a minimum of twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings
- has an active membership, by having posted at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- In case the member-borrower has an Pag-IBIG Housing Loan, Multi-Purpose Loan and/or Calamity Loan, the account/s must not be in default
- with proof of income
The loanable amount under the Pag-IBIG Calamity Loan varies. With regards to the Pag-IBIG Calamity Loan interest rate, it is at 5.95% per annum — one of the lowest in the market.
One of the excellent features about having a loan to the Pag-IBIG Fund is that, as a member, a part of the amount that you will be charged as interest to your loan goes back to you in the form of dividends. Thus, aside from the low interest rates set by the government-run entity, your savings continue to grow through dividends.
The Pag-IBIG Calamity Loan interest rate applies until the loan is fully-paid. It is payable for up to 36 monthly installments or within three (3) years. To apply for the loan offer, there is a set of Pag-IBIG Calamity Loan requirements that you must submit for application.