All eligible members of Calamity loan are capable of obtaining about 80% payout of their entire PAGIBIG standard savings. This amount comprises their employer’s contributions, monthly contributions, and accumulative earned dividends.
The calamity loan of PAG IBIG provides sudden financial assistance to all individuals who reside in areas affected by calamities. If your affected regions are officially investigated in the State of Calamity by either the Sangguniang Bayan (local government unit) or the President, you’re able to qualify for this loan.
Likewise, your regions must be based on recommendations from the Local Disaster Risk-Reducing Management Councils (LDRRMC), National Disaster Risk-Reduction Managing Councils (NDRRMC), or any of its local equivalent departments.
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What’s Calamity Loan in PAG IBIG?
This loan is an additional financial support option for PAGIBIG loaners. It’s especially for those who are existing in areas declared in need of aid due to natural disasters or calamities by the President’s Office or the Sangguniang Bayan. This scheme covers numerous events, including:
The calamity loan coverage for non-natural disasters will be determined by Internal evaluation that the Board authorizes. Once your loan is approved, you are proficient in obtaining your amount within 90 days of the calamity announcement.
Here you can Apply: How to Apply Calamity Loan in PAG IBIG?
You can imagine that despite the prolonged state of Calamity due to COVID-19, Filipinos had the great offer to access relief via this calamity loan. It’s because, at that time, applicants were capable of filing their loans online during the enhanced community quarantine. The calamity loan state was set for six months, as per Proclamation 929.
This loan duration extension was subject to the President’s decision for earlier lifting or extension. Plenty of Filipinos applied and gained this loan by staying home until the Philippines successfully flattened the COVID-19 curve.
What’s the maximum Amount I can obtain from a PAG IBIG Calamity Loan?
Well, Calamity loan applicants are eligible to get more than 80% payout of their relevant regular savings. This loanable amount includes all rewards, contributions, interest rates, employers’ amounts, and all other accumulated values as well.
However, for verifying your calamity loanable amount, the PAG IBIG organization must consider all your Regular Savings. Meanwhile, it may subtract any outstanding Calamity or multi-purpose loan amount. It represents that if you’ve existing balances for the PAG Funding Calamity Loan and MPL, these loan amounts must be deducted from the calculation.
So, it’s important to note that the PAGIBIG Calamity Loan carries a per-year interest rate of 5.95%.
Additionally, the following information of PAG IBIG denotes the entire calamity loan amount available for borrowing. You can determine it by the quantity of your monthly savings. We are starting here from P5,000 with a minimal membership contribution number. It increases to P25,000 for those who come with 120 or more savings per month.
| Contributed Number | Amount in Pesos |
| 24-47 months | 5,000 |
| 48-83 | 10,000 |
| 84-95 | 15,000 |
| 96-119 | 20,000 |
| At least 120 months | 25,000 |
However, suppose you have an existing calamity loan of PAG, your loan amount will be limited to the disparity between 80% of your remaining balance on the existing loan and total savings.
Who’s Eligible for up to 80% Calamity Loan from PAG IBIG?
Filipinos who fulfill the following criteria are eligible to avail of this grand offer of our PAG IBIG scheme:
What are the major Requirements to obtain a Calamity Loan of PAG IBIG?
Who PAG IBIG Assigns P3 Billion Calamity Loan for Typhoon affected Community?
On August 2, the PAGIBIG Fund allocated Php3 billion in the calamity budget to assist members affected by Typhoons Falcon and Egay. You can see that the assistance targets residents in declared calamity areas, including Ilocos Sur, spanning Ilocos Norte, Bulacan, La Union, Bataan, Pangasinan, Cavite CAR, and Pampanga. However, the eligible ones for calamity loans achieved 80% of their savings at a 5.95% annual interest rate.
Therefore, C. Acosta, CEO Marilene noted P709 million distributed to 41,873 affected members as of June. Fortunately, PAG IBIG branches operate the insurance claims and facilitate applications along with various challenges.
Additionally, the Lingkod PAGIBIG On-Wheels aids disaster areas, while Virtual PAG-IBIG accepts online calamity loan applications as well. It ensures to all affected people that our members are accessible during these tough times.
Calamity Loan Opportunity for Ilocos Norte Residents
Those who are inhabitants of Ilocos Norte, Laoag City, can avail of the PAG-IBIG Funding of Calamity Loan. So, PAG IBIG allows them to get up to 80% of their total regular savings until October 24, 2023. This offer was first considered by the state of calamity declared after Super Typhoon Egay. Meanwhile, members with the entire PAG IBIG eligibility criteria for this loan were capable of obtaining it.
Well, members with contributions criteria (valid IDs, PAG membership, etc.) are able to apply the calamity application form virtually or on the counter at the PAG Ilocos Norte branch. So, once you gain this loan, you can repay it with a 5.95% per annum interest rate over two or three years.
Final Thoughts
PAG IBIG allows eligible members to enjoy 80% of the total dividend rates, regular savings, and other contributions. You just need to know the required criteria of PAG IBIG for a calamity loan during severe calamity circumstances.
