Requirements for Pag-IBIG Calamity Loan

The Pag-IBIG Calamity Loan is a financial aid program provided by the Philippine government's Home Development Mutual Fund (Pag-IBIG Fund) designed to assist members who are affected by natural calamities. To apply for this loan, there are several requirements and conditions that applicants must meet. These include:

1. Eligibility Criteria:

   • Membership: Applicants must be a member of Pag-IBIG Fund with at least 24 monthly contributions.
   • Active Status: The member must be actively contributing to Pag-IBIG Fund.
   • Calamity Declaration: The calamity or disaster must be declared by the appropriate government authorities.

2. Required Documents:

   • Pag-IBIG Fund Member’s ID: A valid identification card issued by Pag-IBIG Fund.
   • Proof of Identity: Government-issued ID such as a driver's license, passport, or any other valid ID.
   • Proof of Calamity: Certification from the local government or relevant authorities confirming the occurrence of the calamity.
   • Proof of Income: Recent payslips, income tax returns, or any document proving financial status.
   • Proof of Residence: Documents showing that the applicant’s residence is within the affected area, such as a utility bill or barangay certificate.

3. Loan Terms and Conditions:

   • Loan Amount: The maximum loan amount is up to PHP 80,000 or 80% of the member's total contributions, whichever is lower.
   • Interest Rate: The loan is subject to an annual interest rate of 5.95%.
   • Repayment Period: The loan must be repaid within 24 months.
   • Purpose of Loan: The loan can be used for repairing or reconstructing damaged properties, replacing lost or damaged personal belongings, or other disaster-related expenses.

4. Application Process:

   • Submit Application: Applications must be submitted to the nearest Pag-IBIG Fund branch or through an accredited Pag-IBIG partner.
   • Processing Time: The loan is usually processed within 7 to 14 working days after submission of complete requirements.
   • Disbursement: Loan proceeds are disbursed through check or direct deposit to the member’s bank account.

5. Additional Information:

   • Emergency Loan: In addition to calamity loans, Pag-IBIG also offers emergency loans for non-calamity related financial needs.
   • Updates and Announcements: Members are encouraged to check the Pag-IBIG Fund’s official website or visit their branches for updates on loan policies and procedures.

By understanding and meeting these requirements, Pag-IBIG Fund members can effectively utilize the calamity loan program to alleviate financial difficulties caused by natural disasters.