BY: SALLY ATENTO-ALTEA
LEGAZPI CITY, July 28 (PIA) – Processing of calamity loans is ongoing for eligible members of Pag-ibig Fund in the Bicol region residing in provinces declared under state of calamity due to typhoon Glenda.
Maria Luisa Rivero, Pagibig Legazpi Marketing and Sales Division chief, assured the availability of funds and services to accommodate the increasing number of Pagibig members coming in their office to file their loan applications.
“Pagibig is now accepting applications for calamity loans along with multi-purpose and housing loans although we’re still working on full recovery of our system since our internet connection is also affected by the typhoon," Rivero said.
Albay, Camarines Sur, Camarines Norte and Sorsogon are the provinces in the region declared under state of emergency.
Rivero said under the Pag-ibig calamity loan program, members with at least 24 monthly contributions and with updated contribution five months before availment may borrow up to 80 percent of their total savings.
“This time, annual interest rate has been lowered from 10.75% to 5.95%. The loan is payable within 24 months after a three month grace period,” she said.
Rivero added that members with existing loans may still file for new calamity loan applications.
“Members with existing Pag-IBIG multi-purpose or calamity loans may still file for new calamity loan applications, provided that it has not incurred arrears and that the sum of all loans, including the new one being applied for, does not exceed 80 percent of his total accumulated savings,”she explained.
To further accommodate immediate loan applications Rivero said Pagibig will be having temporary assistance desks at various provinces until August 15.
She said the deadline of loan applications is on October 3 or 90 days from the date of declaration.
Rivero added that members with existing housing loans may also for file insurance claims against allied perils if the property covered by the loan was damaged by the typhoon.
The amount of which will depend on the extent of damage to the property.
Rivero also cited the Modified Pag-ibig II or MP2 program which is solely a savings scheme designed to provide Pag-IBIG I members with another savings option that would grant them with a yield higher than those given under the Pag-IBIG I membership program.
“We are also inviting our Pagibig I members or our regular members to avail of our MP2 program wherein they can save a minimum of P500.00 added to their monthly contribution. They can withdraw it after five years, tax free and with dividend rates higher than Pagibig I contributions,” she said.
“Moreover MP2 program is just for savings and not for loan purposes,” Rivero added.(MAL/SAA-PIA5/Albay)
LEGAZPI CITY, July 28 (PIA) – Processing of calamity loans is ongoing for eligible members of Pag-ibig Fund in the Bicol region residing in provinces declared under state of calamity due to typhoon Glenda.
Maria Luisa Rivero, Pagibig Legazpi Marketing and Sales Division chief, assured the availability of funds and services to accommodate the increasing number of Pagibig members coming in their office to file their loan applications.
“Pagibig is now accepting applications for calamity loans along with multi-purpose and housing loans although we’re still working on full recovery of our system since our internet connection is also affected by the typhoon," Rivero said.
Albay, Camarines Sur, Camarines Norte and Sorsogon are the provinces in the region declared under state of emergency.
Rivero said under the Pag-ibig calamity loan program, members with at least 24 monthly contributions and with updated contribution five months before availment may borrow up to 80 percent of their total savings.
“This time, annual interest rate has been lowered from 10.75% to 5.95%. The loan is payable within 24 months after a three month grace period,” she said.
Rivero added that members with existing loans may still file for new calamity loan applications.
“Members with existing Pag-IBIG multi-purpose or calamity loans may still file for new calamity loan applications, provided that it has not incurred arrears and that the sum of all loans, including the new one being applied for, does not exceed 80 percent of his total accumulated savings,”she explained.
To further accommodate immediate loan applications Rivero said Pagibig will be having temporary assistance desks at various provinces until August 15.
She said the deadline of loan applications is on October 3 or 90 days from the date of declaration.
Rivero added that members with existing housing loans may also for file insurance claims against allied perils if the property covered by the loan was damaged by the typhoon.
The amount of which will depend on the extent of damage to the property.
Rivero also cited the Modified Pag-ibig II or MP2 program which is solely a savings scheme designed to provide Pag-IBIG I members with another savings option that would grant them with a yield higher than those given under the Pag-IBIG I membership program.
“We are also inviting our Pagibig I members or our regular members to avail of our MP2 program wherein they can save a minimum of P500.00 added to their monthly contribution. They can withdraw it after five years, tax free and with dividend rates higher than Pagibig I contributions,” she said.
“Moreover MP2 program is just for savings and not for loan purposes,” Rivero added.(MAL/SAA-PIA5/Albay)
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