How to digitally apply for a Pag-IBIG Calamity Loan, amid COVID-19 threat

Pag-IBIG has allowed the digital processing of loans including Calamity Loan, amid the coronavirus disease 2019 (COVID-19) threat.

The Philippines has been placed under a state of calamity by President Rodrigo Duterte last March 17.

According to Proclamation 929 signed by Duterte, the state of calamity is expected to last for six months unless earlier lifted or extended by the President.

With lost jobs and business operations on hold, most Filipinos are in need of financial assistance.

The Pag-IBIG Fund Calamity Loan Program "seeks to provide immediate financial aid to affected members in calamity-stricken areas."

On their Facebook page, Pag-IBIG released an updated guide on how Filipinos can apply for a Calamity Loan amid the COVID-19 threat.

Here's a guide on the updated loan application process.

Who are qualified to apply for a Pag-IBIG Fund Calamity Loan?

According to Pag-IBIG's website, a person must be contributing member "residing in an area declared by the Office of the President or the Local Sanggunian under a state of calamity."

The person should also have "at least twenty-four (24) monthly membership savings (MS) and sufficient proof of income to qualify."

"If you have an existing Pag-IBIG Fund Housing Loan, MPL and/or Calamity Loan, your payments must be updated for you to qualify," Pag-IBIG Fund's Calamity Loan FAQ read.

How to apply for a Pag-IBIG Fund Calamity Loan digitally?

According to the updated guide released on their Facebook page, applicants should fill out the Calamity Loan Form.

While signatures are not required for those who are filling out their forms digitally, Pag-IBIG emphasized this is just an alternative process for those who don't have access to printers.?

Those with a printer will have to sign the form, scan or take a photo of the filled out application forms and other requirements. 

For those who are filling out the form digitally, make sure you have the Adobe Acrobat Reader so you can fill out the forms digitally.

When you've filled out the form, save it as PDF and send it to your company Human Resources (HR) department, authorized company representative or Fund Coordinator, along with 1 valid ID and the front and back images of your Loyalty Card Plus, or Landbank, UCPB or DBP cash card.

The company HR personnel or whoever is in charge should email the application form along with other requirements to the Pag-IBIG Fund email address designated for your area.

What are the requirements for a Calamity Loan application?

The requirements to complete the Calamity Loan are as follows:

• Completely filled-out application form
• Filled-out Employer Confirmation of STL Application with your name 
• 1 valid ID
• Front and back images of your Loyalty Card Plus, or Landbank, UCPB or DBP cash card.

First time borrowers with no Loyalty Card Plus, Landbank or DBP Cashcard will be advised on how to best receive their loan proceeds.

How much can you borrow?

According to Pag-IBIG Fund's website, qualified applicants can borrow up to "80% of their total Pag-IBIG Regular Savings."

"It consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned."

Meanwhile, if you have an outstanding Multi-Purpose and/or Calamity Loan, the amount of loan you will receive is "the difference between the 80% of your total Pag-IBIG Regular Savings and the outstanding balance of your loan/s."

Until when can qualified applicants borrow?

Pag-IBIG said those who are qualified can borrow "within a period of 90 days from the declaration of a state of calamity."

How long is the processing period of the application after submission?

In an interview with GMA News Online, Pag-IBIG vice president Kalin Franco-Garcia said they are targeting 3 to 7 working days from the receipt of application until release of the calamity loan proceeds.

"This early, we apologize to our members as our usual processing time takes less than two days. However, in this pandemic that we are currently facing, we would like to assure our members that Pag-IBIG Fund is doing everything it can to release loans as fast as possible," Kalin said.

How do you pay and how much is the interest rate?

According to Pag-IBIG's website, "the loan is payable within 24 months and comes with the initial payment due on the 3rd month after the loan release."

How will I know if my loan has been approved?

Pag-IBIG said the "member will receive a text message that will confirm the loan approval and crediting in the Loyalty Card Plus, LandBank or DBP Cashcard."

Where can I email the requirements?

Here's the list of email addresses assigned based on your office address.

Is Pag-IBIG ready to accommodate applications given that the whole country has been placed under a state of calamity?

According to Kalin, they are accepting Calamity Loan applications from members:
a.  in NCR
b. the whole of Luzon 
c. and those from areas declared as under Enhanced Community Quarantine and whose sources of livelihood have been disrupted

Kalin said they have deployed skeletal teams to process expected applications

President Rodrigo Duterte placed Luzon on enhanced community quarantine to contain the spread of COVID-19 which is expected to last until April 13.

The Department of Health on Monday confirmed 82 new cases of COVID-19, bringing the total of infections to 462 in under a month. — LA, GMA News