ZAMBOANGA
CITY, SEPT. 27 (PIA) - - The Home Development Mutual Fund or Pag-IBIG grants
financial assistance thru the funds calamity loan program to its members
following the declaration of Zamboanga City as under the state of calamity.
The continuous downpour and strong winds in the city brought
about by typhoon Lawin caused floodings in low lying areas , uprooted trees,
killing a 5 year old child and displacing more than a thousand families.
“The purpose of this loan is to provide financial assistance
to Pag-IBIG member-victims in calamity stricken-areas,” said Corazon Mamaug,
Chief- Marketing and Promotions Division, Pag-IBIG.
Mamauga said, the calamity loan is open to all of the fund’s members
who has made at least 24 monthly contributions; an active member at the time of
application and is a resident of the area which is declared calamity-stricken.
“The Pag-IBIG member-victim must avail himself of the
Pag-IBIG calamity loan within a period of 90 days from the occurrence of the
calamity,” Mamauag was quoted as saying.
Eligible member shall be entitled to a loan amount which is
equivalent to 80% of his Total Accumulated Value (TAV) or his total
contributions.
“The loan is payable over a period of 24months, with three
months grace period and a yearly interest of 5.95% which is way lower compared
to the previous which is 10.75% per annum,” the active marketing chief said.
Mamaug Advises member-applicants who wish to avail the loan
program to submit Calamity Loan
Application Form (CLAF) with two pieces 1x1 picture. (JPA/PIA9-ZBST).
