Pag-IBIG releases P5.82B in SAFE loans; here's how to apply

The Pag-IBIG Fund has released P5.82 billion to 803,769 beneficiaries through the Special Assistance for Financial Emergencies (SAFE) Loan just weeks after the program began in June.

The SAFE Loan program is a response to President Ferdinand R. Marcos Jr.’s call to provide Filipinos with more affordable and responsive government efforts following the hardships brought on by Middle East tensions.

“Pag-IBIG Fund is providing ready and affordable financial assistance through the SAFE Loan, especially as the continuing tensions in the Middle East create financial challenges that are being felt by our members and their families," said Human Settlements and Urban Development Secretary Jose Ramon P. Aliling, who also chairs the Pag-IBIG Fund Board of Trustees.

"We want our members to know that they can turn to Pag-IBIG Fund for support as they meet their needs and care for their families during this time,” he added.

The SAFE Loan program allows active Pag-IBIG Fund members with at least 12 monthly savings to borrow up to P10,000 or up to 90% of their total Pag-IBIG Regular Savings. Members must not be on a default Pag-IBIG loan.

How to avail of the loan

The loan has a low interest rate of 5.95% per annum, which is payable in 12, 24 or 36 months. There is a three-month grace period before payments start.

To avail of this, members may apply through the Virtual Pag-IBIG. All they need is an accomplished application form, a photo of an ID, as well as a selfie while holding the photo.

The SAFE loan is available until September 8.

“Pag-IBIG Fund is here to help our members in every way we can. In support of President Marcos’ call to provide aid to Filipino workers in need, we are providing ready and affordable financial assistance through the SAFE Loan," Pag-IBIG Fund Chief Executive Officer Marilene Acosta said.

"At the same time, we continue to help members achieve homeownership through housing loans offered at rates below market,” she added. –NB, GMA News