Pag-ibig Offers Calamity Loans To Members

The Philippines dwelling agency has offered calamity loans to all its members in Cebu province after the Cebu provincial government declared the state of calamity.

The declaration was the ultimate decision reached by the Cebu provincial governor Hilario Davide III, following the successive calamities and disasters that hit the province from the last quarter of 2013 up to the last days of December 2014.

The said calamities and disasters were the 7.2 magnitude earthquake,super typhoon Yolanda, tropical depression, floods and landslides that claims dozens of human lives, animals and multi-million worth of agricultural products.

Pag-ibig made the offer not only to calamity victims but even to non-victims as well with a lowering interest rates to 5.9 percent per annum.

According to Pag-ibig Vice President for members, services and branch operations Victoria dela Peña, the total loan amount is payable within two years from the date of the loan releases.

Dela Victoria, however, explained that for a borrower who have existing loans on housing and other form of loans, nothing to worry because the Pag-ibig office has opted to provide the total loan amount equivalent to 80 per cent of the applicants’ whole premiums.

Dela Victoria added they are giving a 90 day period for receiving loan applications from December 8, 2014 to March 7, 2015.

She urged all Pag-ibig members in Cebu to avail this offer, a sort of aid to its members who are in dire needs of cash.