Legazpi: The Pag-IBIG Fund and the Government Service Insurance System (GSIS) have announced an extension for calamity loan applications, following a state of national calamity declaration by President Ferdinand R. Marcos Jr. due to a series of weather disturbances.
According to Philippines News Agency, during a Media Kapihan forum, Nelson Ibarra, the acting chief of Pag-IBIG's Legazpi branch, confirmed that they would continue accepting calamity loan applications until February 2026. He further noted that flexible service arrangements would be implemented to accommodate applicants.
Under the state of calamity, the loan interest rate has been reduced to 5.95%, allowing eligible members to borrow up to 90% of their regular savings. Ibarra emphasized the agency's commitment to providing support for housing and short-term needs, particularly focusing on the calamity loan due to the recent disasters affecting the area since November 11.
To qualify for the Pag-IBIG calamity loan, members must meet several criteria, including being active contributors with at least one payment in the last six months, having a minimum of 12 monthly membership savings, no defaulted loan accounts, and residing or working in a declared state of calamity area. Ibarra encouraged members to apply promptly rather than waiting until the deadline.
Moreover, Eugene Virgo, GSIS-Legazpi branch manager, explained that GSIS is also offering an emergency or calamity loan. This loan permits members to borrow up to PHP20,000 without any service fee and at an interest rate of six percent per annum. Virgo added that members with existing loans could re-borrow, and GSIS would provide a three-month grace period during which no payments, interest, or penalties would be collected, aiding members in their recovery efforts.
Eligibility for the GSIS calamity loan requires members not to be on leave without pay, have no pending administrative cases or due and demandable accounts, and have at least three months of contributions within the last six months.
Both agencies have stated that these initiatives aim to deliver quick financial relief to affected members by offering low interest rates and simplified repayment terms.
