The Pag-IBIG Fund has released P5.82 billion in financial assistance to 803,769 members through its Special Assistance for Financial Emergencies (SAFE) Loan program, only weeks after its launch in June.
Introduced in line with President Ferdinand R. Marcos Jr.'s directive to strengthen government assistance, the SAFE Loan aims to help members cope with financial challenges arising from the ongoing tensions in the Middle East and their economic impact on Filipino families.
Human Settlements and Urban Development Secretary Jose Ramon P. Aliling, who also chairs the Pag-IBIG Fund Board of Trustees, said the program ensures members have access to affordable financial assistance during uncertain times.
Who Can Apply for the SAFE Loan?
The SAFE Loan is available to active Pag-IBIG members who have made at least 12 monthly savings contributions and have no existing Pag-IBIG loans in default.
Eligible members may borrow up to P10,000 or up to 90% of their total Pag-IBIG Regular Savings, whichever is lower.
The loan carries a 5.95% annual interest rate and may be repaid over 12, 24, or 36 months. Borrowers are also granted a three-month grace period before repayments begin.
Here's How to Avail
Applications may be filed online through the Virtual Pag-IBIG portal.
To apply, members need to prepare the following:
- A duly accomplished SAFE Loan application form
- A valid government-issued ID
- A selfie while holding the same ID for verification
The SAFE Loan program will accept applications until September 8.
Pag-IBIG Continues Financial Support
Pag-IBIG Fund Chief Executive Officer Marilene Acosta said the agency remains committed to providing timely and affordable financial assistance to Filipino workers in need.
Aside from emergency loans, she noted that Pag-IBIG continues to help members achieve homeownership by offering housing loans with interest rates that remain below prevailing market rates.
