Pag-ibig Fund Calamity Loan

Photo by: Ed Umbao

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Olongapo City was declared in a state of calamity after 12 hours of continuous rains, the flood was declared the highest in the history of the city.  16 out of the 17 Barangays was flooeded, only the mountanous Barangay of Gordon Heights (where I reside) was spared. The damages was estimated to be more than P2.1B as declared by our City Mayor Rolen Paulino. The estimated damage includes residential, business, infrastructure, private and government facilities.

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If your are a member of Pag-Ibig Fund, you can apply a CALAMITY LOAN being the City was declared in a State of Calamity. 

You can file the calamity loan within a period of 90 days from the declaration of a state of calamity or 90 days from September 23, 2013. 

Photo by: Natashya Gutierrez

Here some facts and application loan process with the applicable forms and requirements: 

1. Who are eligible? The calamity loan program is open to any Pag-IBIG member who:
1. has made at least 24 monthly contributions (whether continuous or broken);
2. is an active member [i.e., has made at least 5 contributions in the last 6 months as of month prior to the date of loan application]; and
3. resides in an area which is declared by the Office of the President or the Sanggunian concerned as under a state of calamity
4. If the member has an existing Housing Loan, Multi-Purpose Loan (MPL) and/or Calamity Loan, the account must not be in default as of the date of the loan application.

2. How much can one loan? Up to 80% of the eligible member’s total accumulated value (TAV, equivalent to member’s contri. plus employer’s contri. plus earned dividends).
   The current interest rate is 5.95% per annum. 
3. What is the payment period? The loan is amortized over a period of 24 months, with a grace period of 3 months, i.e., the eligible member has a 3-month reprieve and only starts paying on the 4th month.
4. Can one still loan if he/she has an outstanding MPL/calamity loan? Yes, but the outstanding MPL balance shall be deducted from the 80% of TAV. For example, if a member has a TAV of P10,000, the maximum loanable amount is P8,000. If the member has an outstanding MPL of P5,000, the member can only avail of calamity loan worth P3,000.
   If, in addition to an outstanding MPL, the member also has an outstanding calamity loan in the amount of P2,000, in the example above, the member is still granted a new calamity loan of P3,000 but will only receive P1,000 because the P2,000 will pay off the existing calamity loan balance. This means that at any given time, a member can have both MPL and calamity loan, but only one calamity loan.
5. Until when can an eligible member avail of the loan? Within a period of 90 days from the declaration of a state of calamity. 

BASIC REQUIREMENTS:

1. Calamity Loan Form 2. Two (2) valid IDs 3. Barangay Certificate or any form of identification that the member is a resident of the area declared under state of calamity

Additional Requirements for Calamity Loan

For formally-employed members - Declaration of Being Affected by Calamity (FLS006), very helpful if you are not filing in Olongapo City or Zambales. For farmers, including landlords, fisher folks and livestock farmers, - Certification from the Municipal Agricultural Office (MAO) that their products were damaged/killed due to the calamity. For business owners/market vendors, - Certification from the Market Vendors Association or certification from the Municipal Mayor (if not member of the association) attesting that he is engaged in the selling of farm products, vegetable, meat or fish and that his source of livelihood was affected by the calamity. For Pag-IBIG Members or any of his immediate family members afflicted by diseases such as diarrhea, cholera, skin diseases, paralytic shellfish poisoning (red tide bloom), heat cramps, heat exhaustion, heat stroke, chickenpox, measles and hypertension, - A Medical Certificate from the Doctor stating that such disease/illness is brought by the onset of calamity.

CALAMITY LOAN PROCEDURE
STEP 1	Go to the Pag-IBIG NCR/Regional Branch where your contributions are being remitted. Proceed to the Provident Benefits Division (PBD) servicing counter.	Person Responsible Loans and Credit Evaluator II
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STEP 2	Submit duly accomplished MPLAF/CLAF together with supporting documents, if applicable. Note: You will be informed if you are not qualified to avail of a loan. Get STL Acknowledgement Receipt (SAR). Note:The date of release of loan proceeds shall be indicated in the SAR.
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STEP 3	On scheduled date, get loan proceeds If thru Check releasing, present SAR and 2 valid IDs to Cash and Administrative Services Division (CASD). If thru the Landbank’s PACSVAL/Cash Card releasing, verify and withdraw at any Landbank branch or accredited bank.	Check Release Controller ATM

Sources:
http://www.interaksyon.com/article/71289/olongapo-reels-from-worst-flooding-ever
http://www.sunstar.com.ph/breaking-news/2013/09/29/flood-damage-olongapo-hits-p21b-305867

http://www.pagibigfund.gov.ph