- Pag-IBIG defers 3 months payments for all loans for members residing in the NCR and Luzon
- This is to lessen the burden of its members whose work or livelihood has been affected by the enhanced community quarantine
- Borrowers need to apply to avail the offer as soon as the community quarantine is lifted
In line with the disruption of work and livelihood of its members, Pag-BIG came up with a three-month moratorium for all loans.
The announcement on Facebook is as follows:
“Pag-IBIG Fund is offering a three-month moratorium to its member-borrowers to help defray their expenses during the enhanced community quarantine being implemented by the government in its fight to contain the Covid-19 virus.”
The institution is one with the president’s directions in securing the safety of his fellowmen. It is with the decision of the Board of Trustees that the grant has been given a go signal.
Pag-IBIG Fund Chairman and Department of Human Settlements and Urban Development Secretary Eduardo D. del Rosario said, “ This moratorium will help alleviate our members’ worries so that they could focus on providing for the basic necessities and safety of their families.”
Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said they will try their best to make sure their members will not be put in a crucial situation especially in hard times like this.
The moratorium is applicable to Pag-IBIG Fund Housing Loan, Multi-Purpose Loan, and Calamity Loan borrowers with payments due on March 16, 2020 until June 15, 2020 for residents of NCR and Luzon for the meantime. Borrowers will need to apply to avail of the offer after the community quarantine is raised. Applications are accepted at any Pag-IBIG branch until June 15, 2020.
The Home Development Mutual Fund (HDMF), more popularly known as the Pag-IBIG Fund, was established on June 11, 1978 to address the need of a national savings program and an affordable house financing program for the Filipino worker.