Tuesday, September 29, 2009

Pag-IBIG Calamity Loan Program

Pag-IBIG Calamity Loan Program
HDMF Circular No. 195


The program provides financial assistance to Pag-IBIG member-victims in calamity-stricken areas.


* Member must have made at least 24 monthly contributions;
* Member is actively paying contributions at the time he applies for a loan, and commits to continuously remit contributions for the term of the loan.
* A resident of the area which is declared calamity-stricken.


* The member is entitled to borrow up to 80% of the Total Accumulated Value (TAV) of his savings.
* For members with existing MPLs, the outstanding loan balance shall be deducted from the proceeds of the calamity loan.


The loan is charged an interest rate of 10.75% per annum. Interest for the grace period is capitalized and amortized over the term of the loan.


* The loan shall be amortized over a period of 24 months with a grace period of 5 months.
* Should another calamity occur in the same area, a borrower may renew his calamity loan any time. The outstanding balance of his existing loan, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the new loan.


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.


GSIS Emergency Loan

For members who have been affected by calamities, the GSIS is offering emergency loan worth P20,000, with a minimal interest rate of 8 percent per year.

The loan is payable up to three years. This means that the P20,000 loan, at 8 % interest, gives a monthly amortization of only P688.89.

The GSIS emergency loan can be availed of using the GSIS Wireless Automated Processing System kiosk or G-W@PS kiosk anywhere in the country or via over-the-counter (OTC) application to be filed in GSIS offices located in the calamity declared areas.

To qualify for the emergency loan, the member-applicant must be: a bona fide employee of the government office within the declared calamity area; be in active service and not on leave of absence without pay; has no pending criminal or administrative charges; has no arrearages in the payment of mandatory social insurance contributions; and has no loan that has been declared in default.

In addition, the agency of the member-applicant must not be suspended due to non-payment and non-remittance of premiums and loans.

To apply for the emergency loan via OTC, eligible members have to accomplish an application form. A tentative computation of their loan proceeds and monthly amortization will also be shown to the member-applicants when they apply via G-W@PS kiosk or OTC.

If the member-applicant still has an outstanding emergency loan, this will be deducted from the proceeds of the new loan.


OWWA loan to members

MANILA – Typhoon-hit families of Filipino migrant workers who are active members of the Overseas Workers Welfare Administration (OWWA) may avail themselves of the agency’s calamity loan.

OWWA Administrator Carmelita Dimzon said the P10,000 calamity loan is available to qualified borrower with no interest.

"This is OWWA's response to the urgent need of its members, when many households are suffering in the wake of widespread destruction brought by Typhoon Ondoy," said Dimzon in a press statement.

Dimzon said the loan will be payable in 24 monthly installments with a grace period of 120 days from release.

"We note that a large number of those affected are OFW families, especially those residing in towns and cities declared as calamity areas by the National Disaster Coordinating Council (NDCC) in Metro Manila, the province of Rizal and Region 3," Dimzon said.

She added that requirements to whose who want to themselves of a loan include active OWWA membership, certification from the local government unit that applicant was affected by "Ondoy," and a promissory note or affidavit of undertaking of the OFW-member.

OWWA welfare offices and staff in affected regions have been instructed to quickly process loans for early approval and release.

Interested applicants may visit the nearest OWWA regional office or contact the OWWA Operations Center at 0917-8986992 (TXTOWWA), or 5511560.


How To Avail Calamity Loan (SSS)

SSS Calamity Loan

Who Qualifies for Calamity Loan? (Source: SSS.Gov.Ph)

1.) A currently employed, self-employed or voluntary member who is a resident of a calamity area as covered by Presidential Proclamation or as declared by the National Disaster Coordinating Council (NDCC) or the concerned Local Government Unit (LGU).

2.) He must have paid at least a total of 24 monthly contributions throughout his membership, including two monthly contributions within the one-year period prior to filing date.

3.) He has not yet been granted a refund of contributions, retirement or total permanent disability benefits.

4.) He must be up-to-date in the payment of all member loan obligations, including the following:
-salary loan
-calamity loan
-emergency loan
-stock investment loan
-privatization fund loan
-special educational loan for vocational and technical students
-special educational loan for Y2K conversion training
-member assistance for the development of entrepreneurship (MADE), and
-housing loan granted through the SSS, National Home Mortgage Finance Corporation (NHMFC) and Home Development Mutual Fund (Pag-IBIG).

5.) The amount of calamity loan shall be granted only to the extent that the loan being applied for plus the member's total outstanding loan balance at the time of application shall not exceed P50,000, except those of member assistance for the development of entrepreneurship (MADE) and housing loans.

6.) His employer, if any, must be up-to-date in contributions and loan remittances.

7.) He has not been disqualified by the Social Security Commission (SSC) for having filed a fraudulent loan application with the SSS.

Download SSS Loan Form
Download Pag-ibig Loan Form

If you cannot view the form, please click here to download Adobe Acrobat...

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