Home > Benefits and Programs > Pag-IBIG Calamity Loan Program

LOAN PURPOSE

The program provides financial assistance to Pag-IBIG member-victims in calamity-stricken areas.

BORROWER ELIGIBILITY

• Member must have made at least 24 monthly contributions;
• Member is actively paying contributions at the time he applies for a loan, and commits to continuously remit contributions for the term of the loan.
• A resident of the area which is declared calamity-stricken.

LOAN AMOUNT

• The member is entitled to borrow up to 80% of the Total Accumulated Value (TAV) of his savings.
• For members with existing MPLs, the outstanding loan balance shall be deducted from the proceeds of the calamity loan.

INTEREST RATE

The loan is charged an interest rate of 10.75% per annum. Interest for the grace period is capitalized and amortized over the term of the loan.

LOAN PERIOD/RENEWAL

• The loan shall be amortized over a period of 24 months with a grace period of 5 months.
• Should another calamity occur in the same area, a borrower may renew his calamity loan any time. The outstanding balance of his existing loan, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the new loan.

AVAILMENT PERIOD

The Pag-IBIG member-victim must avail himself of the Pag-IBIG Calamity Loan within a period of 90 days from the occurrence of the calamity.