Active members of the Pag-IBIG Fund in Palawan can now apply for calamity loans within 90 days after its central office authorized a P5-billion allotment for Typhoon Odette-affected areas.

According to Emely Platero, the Puerto Princesa branch officer-in-charge, 45 active members have taken use of the loan since it was established on Monday.

Members who have actively contributed within the last 24 months are eligible for a calamity loan under the short-term loan program. A member may use up to 80% of their total funds.

“Wala tayong numbers kung ilan talaga ang qualified. Meron tayong 61,000 active members as of November, dito sa Puerto Princesa branch. Since, ang qualification ay may 24 months na hulog, wala pa tayong data kung ilan talaga ang meron two years contribution,” Platero said.

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“We hope na marami mag-avail ng calamity loan ngayon dahil talagang kita naman natin na maraming affected unlike before na hindi naman masyadong kailangan talaga, although nag-offer tayo ng calamity loan,” she added.

“Maraming nasiraan ng bahay, si Pag-IBIG fund ay handang tumulong. Although sinasabi nga natin na ito ay in a form of loan pero kahit paano, dahil mababa ang interest ng ating calamity loan ay makakatulong tayo sa ating mga miyembro,” she further stated.

The interest rate for a Pag-IBIG calamity loan is 5.95 percent per annum, and members can pay over two or three years.

Before the start of monthly amortization payments, there is a three-month grace period.

One of the requirements is a disbursement card, as Pag-IBIG no longer supports loan releases through cheque.

The cards that can be used to disburse the loans are the loyalty card plus, Landbank cashcard, DBP cashcard issued by Pag-IBIG Fund, and the payroll account of members.

Applications will be accepted until December 31, 2021, and will be accepted again on January 3, 2022, with the loan being approved within two days.

“Kung Friday (December 31) na tayo mag-apply ay maaaring January 3 na ang release natin kasi ‘yon na ang next working day natin. Kung hahabol sila within today, maaaring ma-release natin ‘yan sa December 31,” Platero explained.

An applicant who has an existing loan but whose payment is not up to date may face loan denial.

“Pangalawa, kung kaka-loan lang nila, baka wala na rin silang ma-procees dito sa calamity loan. Ang pinagbabasehan nga natin is 80 percent ng total savings. Kung na-avail na nila ‘yon previously o kung kailan lang sila nakapag-apply ng MPL, baka wala na rin ma-proceed for calamity loan,” she added.

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is one of the senior reporters of Palawan News. She covers agriculture, business, and different feature stories. Her interests are collecting empty bottles, aesthetic earrings, and anything that is color yellow.