Pag-IBIG Fund to extend calamity loan to Abra quake victims

A calamity loan program will be made available by the Home Development Mutual Fund or Pag-IBIG Fund for the victims of the magnitude 7 earthquake that hit Northern Luzon on Wednesday. 

In a statement on Thursday, Pag-IBIG said the agency “extends calamity loans to members affected by calamities, such as earthquakes.”

“The loanable amount is up to 80% of the member’s savings with the lowest interest rate of 5.95%,” it said.

However, Pag-IBIG Fund said its guidelines require a declaration of calamity from the local government unit (LGU) before the loan facility can be made available.

Nevertheless, it said that “members can opt to file a calamity loan, which will then be processed upon issuance of such [a] declaration, or members may opt to file a Multi-Purpose Loan.”

“Members may file their loan applications online, via Virtual Pag-IBIG,” it said.

“For those who choose to submit their loan applications physically, we have deployed the Lingkod Pag-IBIG on Wheels (our mobile physical branch) in Abra and this is stationed near the Bangued Cathedral." —VBL, GMA News