Pag-IBIG Fund releases record-high P65.48B home loans in Jan-Sept 2021; up 80%

UNTV News   •   November 9, 2021   •   269

Pag-IBIG Fund again surpassed its own record amid the ongoing pandemic by releasing more than P65 billion in home loans in the last nine months, agency officials announced on Friday (Nov. 5).

From January to September, the agency released home loans worth P65.48 billion, which is the highest amount ever released compared to any previous nine-month period. Compared to recent years, the amount disbursed so far this year grew 80% from the P36.43 billion released during the same period in 2020 and is 11.5% higher than the P58.73 billion released in the same period in 2019, which is the Fund’s best performing year.

“Even as the country continues to face the challenges posed by pandemic, Pag-IBIG Fund was able to set a new record in terms of housing loan takeouts by the end of the third quarter.

This means that more and more Filipino workers are becoming homeowners which is good news as this growth contributes to the economic recovery efforts of the government led by President Rodrigo Duterte,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti noted that the amount released as of September financed the acquisition of 77% more homes this year – totaling so far to 63,765 units for its members.

He added that out of the P65.48 billion released, over P6.71 billion went to finance the acquisition of 15,456 socialized housing units for the minimum wage and low-income sectors and that these socialized housing units make
up more than 24% of the entire number of homes financed from January to September.

“We have one more quarter left before 2021 ends and judging by our home loan releases in the previous three quarters, I am confident of achieving another banner year. So far, our average monthly home loan releases
hovers around P7 billion. It even peaked at over P9 billion in June,” said Moti.

“In the third quarter alone, our home loan releases amounted to P21.14 billion. If this trend holds, home loan releases by the end of the year will likely breach the P90 billion mark and may even reach P100 billion. This shows the grit and resilience of Pag-IBIG to serve our members no matter the circumstance,” he added.

Pag-IBIG Fund now accepting application for calamity loan of members in Odette-hit areas

Maris Federez   •   December 29, 2021

MANILA, Philippines — The Home Development Mutual Fund (Pag-IBIG Fund) has announced the allocation of Php5 billion in calamity loans and is now accepting applications to help its members affected by Typhoon Odette.

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as an aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Department of Human Settlements and Urban Development (DHSUD) Secretary Eduardo D. del Rosario in a statement released recently.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned, the statement said.

And in consideration of the plight of the members, the calamity loan is offered at a rate of 5.95% per annum which is the lowest rate in the market, it added.

The loan is payable over a period of up to three years. It gives the borrower a grace period of two months so that the initial payment is due only on the third month after the loan is released.

Qualified borrowers may apply for the loan within 90 days from the date when an area has been declared under a state of calamity.

Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti said members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG.

Pag-IBIG Fund allocates P5B in Calamity Loan to help members in Odette-hit areas

UNTV News   •   December 23, 2021

Pag-IBIG Fund has allocated P5 billion in Calamity Loans to help its members affected by typhoon Odette, its top executives announced on Wednesday (Dec. 22).

“In times like these, Pag-IBIG Fund is always ready to help members through our Calamity Loan Program. That is why the Pag-IBIG Board has allocated a calamity loan fund of P5 billion as aid for our members in Visayas and Mindanao to help them recover from the devastation caused by typhoon Odette,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

Under the Pag-IBIG Calamity Loan Program, eligible members may borrow up to 80% of their total Pag-IBIG Savings, which consist of their monthly contributions, the counterpart employer’s contributions, and accumulated dividends earned. And in consideration of the plight of the members, the Calamity Loan is offered at a rate of 5.95% per annum which is the lowest rate in the market.

The loan is payable over a period of up to three years, with a grace period of two months so that initial payment is due only on the third month after the loan is released. Qualified borrowers may apply for the Calamity Loan within 90 days from the date when an area has been declared under a state of calamity.

Meanwhile, Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti added that as of November this year, more than P1.15 billion in Calamity Loans have been released by the agency to help 76,521 members in calamity-hit areas. He also added that the program has been made more affordable as borrowers now have the option to choose a longer 3-year term to reduce monthly payments by up to 31%. This means that for a Calamity Loan worth P20,000, monthly payments will be reduced from P897.23 to only P615.72.

“Members in affected areas who have access to internet service and have a Pag-IBIG Loyalty Card Plus, Land Bank of the Philippines or United Coconut Planters’ Bank (UCPB) cash card, may file their Calamity Loan applications online via Virtual Pag-IBIG. This would allow them to file and receive their loans safer and faster, so that they can continue to tend to the needs of their families as they recover from the effects of the typhoon.

And, even while our own offices and personnel in typhoon-hit areas have also been affected, our branches are open and ready to receive loan applications. Your Lingkod Pag-IBIG is committed to deliver service that matters, always and in all ways,” said Moti.

Members save record-high P52.5 B in Pag-IBIG Fund in Jan-Oct, up 35%; MP2 Savings breach P21 B, up 110%

UNTV News   •   December 6, 2021

 

MANILA, Philippines — Pag-IBIG Fund members have saved more than P52 billion in the last 10 months, breaking yet another record for the period and exceeding full year figures from before the pandemic, top agency officials announced on November 24.

From January to October, the amount collectively saved by members with the agency totaled P52.47 billion – the highest for any 10-month period.

The savings collected so far this year grew 35% from the same period in 2020 and 26% higher compared to figures from 2019, which is the agency’s best performing year yet.

“Even during these challenging times, we are happy to see that members are still keen on growing their savings with Pag-IBIG Fund. With the amount of savings increasing by P13.66 billion compared to last year and P10.81 billion compared to our best year in 2019, these numbers clearly show that Pag-IBIG Fund has already recovered from the effects of the pandemic,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11- member Pag-IBIG Fund Board of Trustees.

“In fact, the P52 billion savings collected as of October this year already exceeds the amount of savings collected for the whole 12 months in all previous years. With more savings, Pag-IBIG now has more funds for its programs to help more members in the coming months and even years. This is our contribution to the recovery of the nation, which is being led by President Duterte,” he added.

Driving the growth is the agency’s voluntary savings program, the Modified Pag-IBIG 2 or MP2, according to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti. He said that in the last 10 months, MP2 savings amounted to a record-breaking P 21.43 billion or 41% of the total savings collected for the period.

“We have seen the dramatic increase in MP2 in the last five years. In fact, the MP2 is the only figure that did not show signs of slowing down, and even grew during the pandemic. But the growth in 2021 is truly remarkable,” said Moti.

“The P21.43 billion MP2 savings as of October is more than double the P10.21 billion collected in the same period last year and is already P8.16 billion more than the P13.27 billion collected for the whole 2020. To put it into another perspective, MP2 has grown so much this year that savings as of October is higher than the total amount collected from 2012 to 2019 combined!” he further said.

The agency added that the increase in purely voluntary savings corroborates the results of the 2021 Philippine Trust Index that ranked Pag-IBIG Fund as the most trusted GOCC.

“We thank our members for their continued trust in Pag-IBIG Fund and in choosing to rely on us to grow their hard-earned savings. We still have a few more weeks before we end the year, and with numbers such as these, I am optimistic that 2021 will be another milestone year and the start of another wave of ‘best year evers’ as we help even more members securely save for their future goals,” said Moti.

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