Pag-IBIG offers loan to Ompong-hit members

THE HOME Development Mutual Fund (HDMF), popularly known as Pag-IBIG (Pagtutulungan sa kinabukasan: Ikaw, Bangko, Industriya at Gobyerno) Fund, is offering a Calamity Loan Program to any Pag-IBIG Fund member badly hit by Typhoon Ompong.

Qualified Pag-IBIG Fund members can borrow up to 80 percent of their Total Accumulated Value (TAV) subject to the terms and conditions of the program.

Calamity Loan Interest rate is 5.95 percent per annum. The loan is amortized over 24 months, with a grace period of three months. Paying period begins on the 4th month following their check date. Loans may be filed within 90 days from the declaration of State of Calamity.

A member must have made at least 24 monthly savings, an active member with at least five monthly savings for the last six months as of month prior to the date of loan application, residing in an area which is declared by the Office of the President or the local Sanggunian Councils) concerned as under a state of calamity.

The loan program is not limited to those affected by severe weather incidences. It is also made available for those severely hit by other overwhelming natural calamities such as heavy flooding or major earthquakes.

Meanwhile, the Office of Civil Defense is reminding concerned local government units and Sanggunians that have been placed under State of Calamity to immediately furnish their office with the resolution embodying the calamity area declaration, in order for their area to be included in the National Disaster Risk Reduction and Management Council (NDRRMC) situational report.

The OCD said inclusion of the LGUs' state of calamity resolution in the NDRRMC SitRep will immediately facilitate the approval of ca-

lamity loans for SSS, GSIS, and Pag-IBIG members residing in the affected areas.

For more information, contact the PagIBIG 24/7 customer care hotline: (02) 724 4244, or visit their website: pagibigfund.gov.ph.