Pag-Ibig Fund, SSS extend calamity loans for quake victims

Bohol earthquake-affected members of the Home Development Mutual Fund, also known as the Pag-Ibig Fund, may avail of low-interest calamity loans, Vice President Jejomar Binay said Thursday.

 

Binay said the HDMF has set aside P4.5 billion for the calamity loans, which fund members may apply for from roving offices.

 

“Pag-IBIG has deployed roving offices in the affected areas so it would be easier for members to seek assistance,” the vice president said.

 

The loan will have an annual interest of 5.95 percent and is payable in two years.

 

Binay, who was in Bohol and Cebu to see first hand the quake devastation said quake victims may seek from the National Housing Authority P5,000 worth of home materials for repairs of partially damaged homes. Those whose homes were toatlly destroyed can ask for relocation assistance.

 

For its part, the Social Security System said it also has a calamity package for SSS members in the earthquake-hit areas.

 

The package consists of  early renewal of salary loans, relaxed loan terms for home repairs and advance release of three months' worth of pension.

 

To qualify for the relief package, SSS members must be 60 years old or below and have at least 24 monthly contributions, at least three of which within the 12-month period immediately prior to the month of filing their application.  — ELR, GMA News