PAG-IBIG Fund is offering a calamity loan program to calamity victims among its members in the Ilocos Region affected by Super Typhoon Egay.

Mervin Pereda, Ilocos Region area head of Pag-IBIG Fund, said members from Dagupan City, Ilocos Norte and Ilocos Sur where a state of calamity was declared may avail the agency’s short term loan program as immediate financial aid.

Pereda said a total of P1.7 billion budget is available for the short-term loan program for 220,000 members in Ilocos Region.

P400 million will be available for members in Dagupan City, P150 million for members of the Ilocos Norte Branch, and P220 million for the Vigan Branch.

“Every qualified member, with at least 24 months of savings under the Pag-IBIG Regular Savings, is entitled to borrow up to 80% of their total Pag-IBIG Regular Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned,” Pereda said.

Jonah Grace Oxiles, of Pag-IBIG Fund Dagupan Branch, said Pag-IBIG Calamity Loan carries the lowest interest rate in the market of 0.495% percent per month.

Oxiles said members may avail of the Pag-IBIG Calamity Loan within a period of 90 days from the declaration of a state of calamity by the Sangguniang Bayan of their respective area.

“Members may opt to pay their loans in two years or 24 months or within three years or 36 months,” she said.

Oxiles said members’ initial payment for the approved loan will be due on the 4th month after the loan was released. (PIA Pangasinan/EMSA)

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