Pag-IBIG Fund still accepts calamity loan applications

CEBU, Philippines —  The Home Development Mutual Fund (HDMF-Visayas) or Pag-IBIG Fund reminds members that the Calamity Loan (CL) benefit is still open.

To those who were not able to apply during the onset of the community lockdown can still submit application either via online or at the Pag-IBIG office, this according to Rio R. Teves, Pag-IBIG Fund Visayas Department Manager for Business Development.

Eligible to apply for CL are active members who reside or work in an area placed under ECQ, and has paid a cumulative 24 monthly contributions and fulfilled the six consecutive monthly contribution requirement.

“We are still accepting CL application from members but we require that they have cash cards already for easy crediting of their loan proceeds,” said Teves.

-IBIG Cebu City office reopened yesterday as soon as the city transitioned to GCQ.

During the ECQ period in Cebu, which started last March 14, 2020 until May 7, 2020, Pag-IBIG Central and Eastern Visayas released a total of P79.236 million multi-purpose and calamity loans.

There were a total of 13,153 applications received by his office, majority or 5,996 were approved both in MPL and CL, a total of 8,797 were disapproved pending additional requirements or missed required information.

Teves reported that Pag-IBIG Visayas (Central and Eastern) logged a total 3,141 disqualified loan applications.

The calamity loan amount that can be availed is 80 percent of the member’s savings, which average around P20,000, thus, the calamity loan amount will depend on a qualified member’s total savings.