SSS calamity loan and GSIS calamity loan requirements differ from that of the Pag Ibig calamity loan. Given this case, there is still one common requirement of these 3 loan offers. That is, any member interested to avail will have to be a resident in the area declared as hit by calamity due to Ondoy.
I found a few basic requirements for members before they can avail of the Pag Ibig calamity loan and I hope these helps you if you are someone looking to apply for Pag Ibig calamity loan.
Loan Facts (Requirements)
- 10.75% per annum interest rate will be incurred.
- Calamity loan is renewable when a new calamity occurs.
- You can only file within 90 days since calamity occurred.
- You have to pay the loan within 2 years equivalent to 24 monthly amortization.
- Minimum of 24 monthly contributions for a member is needed before he or she can make a loan.
- If you have existing loan, the total loan balance shall be deducted from proceeds of calamity loan.
- Maximum amount of loan is only up to 80% of the Total Accumulated Value (TAV) of member contributions.
