How to Apply for Pag-IBIG Calamity Loan Online


How to Apply for Pag-IBIG Calamity Loan

Given the Philippines' geographical situation, it is no wonder Filipinos face calamities such as volcanic eruptions, storm surges, flooding, landslides, and drought. This can bring devastating experiences and grave economic loss to citizens living in all parts of the nation. Fortunately, various types of support, including cash assistance, a Pag-IBIG Fund calamity loan, an SSS loan, and other rescue measures, are available to those affected.


In this article, we will delve into the financial support available for members of the Home Development Mutual Fund, otherwise known as the Pag-IBIG Fund. This government body offers monetary assistance to members afflicted by a calamity through the Pag-IBIG Calamity Loan. If you are recently affected by typhoon, other calamities and natural disasters, you can avail the PAGIBIG Fund’s Calamity Loan.

Table of Contents
What is a Pag-IBIG Calamity Loan?
How to Apply for PAG-IBIG Calamity Loan?
How to Apply for PAG-IBIG Calamity Loan Online via Virtual Pag-IBIG
Who are eligible to avail of PAG-IBIG’s calamity loan?
How much is the available loan amount and the interest rate charged to the amount?
How long is the payment period?
Other Things to Consider
Conclusion

This guide will provide all the necessary information you need to know about this loan program, such as its deadlines, interest rates, and how to apply online.


What is a Pag-IBIG Calamity Loan?

Section 16 of Republic Act 10121 gives the President of the Philippines or Local Government Units the power to declare an area to be in a State of Calamity. This is done based on the recommendation of the National Disaster Risk Reduction Management Council (NDRRMC), or for LGUs the Local Disaster Risk Reduction Management Council (LDRRMC).

Once under a State of Calamity, citizens of that area are granted the opportunity to apply for a loan from the government, which includes Pag-IBIG Fund’s Calamity Loans. These are offered to Pag-IBIG Fund members whose property has been affected by unforeseen calamities like a flood, fire, volcanic eruption, tropical cyclones or typhoons, and other similar instances.

Eligible Pag-IBIG members can borrow up to a maximum of 80 percent of their Total Accumulated Value (TAV), which is the total of the monthly contributions made at the time of the Calamity Loan application, and is subject to the terms and conditions of the program.


How to Apply for PAG-IBIG Calamity Loan in the Philippines

Eligible Pag-IBIG Fund members whose homes have been greatly affected by a typhoon should file for a calamity loan no later than 90 days after their area had been declared to be in a State of Calamity.

Please submit the following documents at any Pag-IBIG Office nationwide.

  • Filled-up thePAG-IBIG Calamity Loan Application Form
  • Photocopy of at least 2 valid IDs
  • Proof of Income
  • For formally employed members, duly accomplished Declaration of Being Affected by Calamity
  • Wait for your loan application to be processed

If the applicant has an existing Housing Loan, Multi-Purpose Loan (MPL) and/or Calamity Loan, the account must not be in default as of the date of application.


How to Apply for PAG-IBIG Calamity Loan Online via Virtual Pag-IBIG

Pag-IBIG Fund members can also apply for a calamity loan online via the Virtual Pag-IBIG. Here are the steps to follow.

1. Visit the official Virtual Pag-IBIG website at www.pagibigfundservices.com/virtualpagibig.

2. Select “Apply or Manage Loans” and click “Apply for a Short-term Loan.”

3. Review the documents needed for the application and then click “Proceed.”

4. On the Select Loan Type drop-down, choose “Calamity Loan.”

5. Enter your Pag-IBIG membership ID number or MID.

6. Click “Validate your MID no.”, once your MID number is validated, complete your contact details.

7. A One-Time Password (OTP) will be sent to your mobile number.

8. Check the Data Privacy agreement and click “Proceed.”

9. Type in your OTP and click “Proceed.”

10. Review your Calamity Loan application form and click “Next.”

11. Select the type of Cash Card or Loyalty Plus Card you have.

12. Enter your card number and click “Check cash card status.”

13. If your card is valid, proceed to the next step.

14. Upload your Calamity Loan Application (front and back), scanned copy of your valid ID, and a selfie.

15. Submit your application and wait for your reference number to be sent to your registered mobile number.


Who are eligible to avail of PAG-IBIG’s calamity loan?

The calamity loan program is open to any Pag-IBIG member who meets the following criteria:
  • Has made at least 24 monthly Pag-IBIG payments;
  • Is an active member with at least 5 monthly savings for the last 6 months as of month prior to the date of loan application; and
  • Resides in an area which is declared by the Office of the President or the Local Sanggunian concerned as under a state of calamity.

In the event that members are past the mandatory 90-day period from the time their area was declared to be in a State of Calamity, they can opt to apply for Pag-IBIG Fund’s Multi-Purpose Loan (MPL). As its name implies, MPLs may be used for different purposes, including repairing the damage caused by a typhoon. However, this loan has a slightly higher interest rate than the Calamity Loan.


How much is the available loan amount and the interest rate charged to the amount?

An eligible member may borrow up to a maximum of 80% of his Total Accumulated Value (TAV) subject to the terms and conditions of the program. The Calamity Loan is currently charged an interest rate of 5.95% per annum.


How long is the payment period?

The loan is amortized over a period of 24 months with a grace period of 3 months. Payment of the monthly amortization starts on the 4th month following the issue date of the check.


Other Things to Consider

Pag-IBIG Fund members should keep in mind that having an existing Pag-IBIG Housing Loan does not disqualify them from being eligible for the Calamity Loan. However, their existing loans must not be in default.

However, if one of the existing loans happens to be a Calamity Loan, proceeds from the new calamity loan will first be used to pay off the remainder of the previous one. For example, if a member already has an outstanding Calamity Loan of Php8,000, and is granted a new Calamity Loan of Php40,000, he or she will only receive Php32,000. In addition, the total amount of the short-term loans (MPL and Calamity Loan) must not exceed 80 percent of the member’s TAV.

As of June 2016, Pag-IBIG Calamity Loans are charged at an interest rate of 5.95 percent per annum, and this is amortized over a period of 24 months with a grace period of 3 months. Payment of the monthly amortization begins on the fourth month following the date of the Calamity Loan check is issued.


Conclusion

We hope you find this handy guide about How to Apply for Pag-IBIG Calamity Loan very helpful and useful. For any inquiries, you may contact the Pag-IBIG Fund’s hotline at (02) 724-4244. E-mails may also be sent to oublicaffairs@pagibigfund.gov.ph.


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2 Comments

  1. how to file a calamity loan thru online? Pls i need help. Thanks

    ReplyDelete
  2. i have the same question, how to apply calamity loan online? thank u..

    ReplyDelete
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