The STATE-RUN Dwelling Improvement Mutual Fund (Pag-IBIG Fund) first allotted P3 billion in calamity mortgage funds for members in disaster-stricken areas, together with these affected by the sturdy earthquake that hit Northern Luzon.
The mentioned fund is meant to assist the affected Pag-IBIG members within the Ilocos Area, Cagayan Valley and Cordillera Administrative Area (CAR) to get better from the injury attributable to the magnitude 7 earthquake final week.
“We’re additionally working intently with our fellow authorities companies, as directed by President Ferdinand Marcos Jr., in order that we are able to maximize our collective belongings in direction of serving the wants of our fellow Filipinos. affected in these areas,” mentioned newly appointed Secretary Jose Rizalino. Acuzar of the Division of Human Settlements and City Improvement and chairman of the 11-member Pag-IBIG Fund Board of Trustees.
To avail of the Pag-IBIG calamity mortgage, certified members can borrow as much as 80 % of their whole Pag-IBIG financial savings, which consists of their month-to-month contribution, contribution of the counterparty employer and gathered dividend earned. In consideration of the situation of the members, the calamity mortgage is obtainable at a fee of 5.95 % each year, which is the bottom fee available in the market.
The mortgage is repaid over a interval of as much as three years, with a grace interval of two months in order that the preliminary fee is due solely within the third month after the mortgage is launched. Eligible debtors can apply for calamity loans inside 90 days from the date an space is said below a state of calamity.
Pag-IBIG Fund Chief Government Officer Acmad Rizaldy Moti mentioned the company has deployed its cell department, Lingkod Pag-IBIG On-Wheels, and established offsite service desks to obtain functions for calamity loans from members, in addition to insurance coverage claims from the present Pag. -IBIG housing mortgage debtors whose properties could have been broken by the earthquakes.
“Within the midst of calamities, we all know that our members have to have speedy entry to our advantages and providers. Instantly after the earthquake was felt, we deployed our cell department — the Lingkod Pag-IBIG- On-Wheels — to tour Ilocos Area, Cagayan Valley and the CAR, and supply providers the place they’re most wanted. In coordination with native authorities items, we additionally arrange an on-the-ground service desk close to evacuation areas and authorities facilities in these areas so members can simply entry us,” mentioned Moti.
“Our Digital Pag-IBIG additionally stays prepared to just accept calamity mortgage functions on-line from members who’ve entry to the web service. And, regardless that our personal places of work and personnel within the areas affected by the earthquake had been additionally affected, our department is open and able to obtain functions for calamity loans and housing mortgage insurance coverage claims. Our members can relaxation assured that in troublesome instances, Pag-IBIG is all the time there to assist them,” added Moti.
About 105,241 households had been affected by final week’s earthquake that shook Northern Luzon, primarily based on the most recent report of the Nationwide Catastrophe Threat Discount and Administration Council. The company mentioned this quantity is equal to 404,370 individuals dwelling in 1,115 barangays (villages) within the Ilocos Area, Cagayan Valley and CAR.