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PIA Press Release
Friday, January 13, 2012

 

PAG-IBIG Butuan grants P7.5M calamity loans

by Christopher L. Loon

BUTUAN CITY, Jan. 13 (PIA) -- The PAG-IBIG Fund here is now accepting calamity loan applications from its members all over Caraga Region, which was declared under state of calamity through Presidential Proclamation No. 303 by President Benigno S. Aquino III on Dec. 20, 2011.

With this, the PAG-IBIG fund has started processing calamity loans last Jan. 2 and has so far released a total of P7,555,051.56 to all its qualified member-borrowers for the nine days operation alone.

It is expected to increase in the coming days due to the extent of the declaration. The availment period will run for three months that will last until March 20, 2012.

To qualify, a member must have paid at least 24 months membership contributions. All other eligibilities required in a regular loan will be waived. The loan proceeds will be 80 percent of the total savings net of the outstanding loan.

Through the years, PAG-IBIG Fund has been true to its mission, which is to uplift the quality of life of its members through savings. It has been proven by its active participation not only on relief operations but also the granting of calamity loans for its qualified members during calamities.

Butuan Branch since its inception had released a total amount of P628 million to help alleviate the living condition of its members affected by calamities. This catered a total of 77,756 members under Caraga Region.

Aside from the Multi Purpose Loan and Calamity Loan, a qualified member can also avail of a housing loan. (Pag-Ibig Butuan/PIA-Caraga)

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