Last March 23, the government-owned and controlled corporation administering the national savings program and affordable shelter financing for Filipinos announced that it will now allow the digital processing of Pag-IBIG Calamity Loan due to the coronavirus threat which already affected more than 180 countries.
Since the country has been placed under state of calamity over COVID-19, this enable anyone who is under the calamity stricken area to apply for Calamity Loan program offered by Pag IBIG to provide immediate financial aid to affected members.
The Pag-IBIG Calamity Loan online application has been made possible by Pag-IBIG Fund due for the safety of the citizens. This would help Filipino people how to apply for calamity loan without risking their health by going outside their houses.
Steps to accomplish the Calamity Loan online application by Pag-IBIG
- First, you need to download the Calamity Loan Application Form.
- After you download the file, open it. You can fill this out directly as soon as you open it. Make sure that you have filled out the necessary information. You do not need to print and sign this fillable Pag-IBIG Calamity Loan form in hard copy.
- Save the file.
- Submit the file by emailing it to your HR representative along with a photo of your valid ID as well as your Landbank, DBP or UCPB Cashcard photo or Loyalty Card Plus. If you are sending your Loyalty Card Plus, make sure to send a clear picture of the front and back of the card. The representative will fill out the remaining part.
In this process, only your HR company can email your Pag-IBIG loan application.
They will include a certification that confirms that you are an employee of their company and are applying for a Pag-IBIG Fund MPL or Calamity Loan.
How can you qualify for the Calamity Loan Program?
As per the FAQ of Pag-IBIG Fund:
“You must be an actively contributing member residing in an area declared by the Office of the President or the Local Sanggunian under a state of calamity, with at least twenty-four (24) monthly membership savings (MS) and sufficient proof of income to qualify. If you have If an existing Pag-IBIG Fund Housing Loan, MPL and/or Calamity Loan, your payments must be updated for you to qualify.”
The eligible member should also have “at least twenty-four (24) monthly membership savings (MS) and sufficient proof of income to qualify.”
These are the Pag-IBIG Calamity Loan Requirements
- Filled-out application form (Refer to the Steps to accomplish the Calamity Loan application by Pag-IBIG above)
- Filled-out Employer Confirmation of STL Application with your name
- 1 valid ID
- Front and back images of your Loyalty Card Plus, or Landbank, UCPB or DBP cash card
How much can you borrow from the calamity loan program
According to the Pag-IBIG site list of frequently asked questions, it says that “Qualified members may 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. If you have an outstanding Multi-Purpose and/or Calamity Loan, the amount of loan you will receive shall be the difference between the 80% of your total Pag-IBIG Regular Savings and the outstanding balance of your loan/s.
Based on the information above, the loan amount may vary based on the total accumulated of your Pag-IBIG account.
Until when can an eligible member avail the loan?
Eligible borrowers must avail of the Calamity Loan within a period of 90 days from the declaration of a state of calamity.
In this case, the Philippines has been placed under state of calamity due to coronavirus under Proclamation No. 929 signed by President Duterte Monday March 16, 2020. The period of when you can avail would run 90 days from the mentioned date.
You can also check the Pag-IBIG Fund Calamity Loan FAQ or the newly updated FAQ note made for the email filing of MPL and Calamity Loan Program by Pag IBIG.
