PAG-IBIG urges Aklanons to avail of low-interest housing loans

Kalibo, Aklan – The Pag-IBIG office here is urging Aklanons to avail of low-interest housing loans after lowering further its interest rates on varied housing programs.

Maribel Tolentino, Officer-in-Charge of the Pag-IBIG Service Center here said in an interview over radio station DYRU here that members can now avail of low-interest housing loans through the Abot-Kamay Pabahay Housing and the Magaang Pabahay, Disenteng Buhay loan programs.

Tolentino said teachers and even security guards can now avail of housing programs, as interests have been lowered from 6, 7 and 10.5% depending on the amount of loans. For instance, she cited that if an employee avails of a P275,000 housing loan, under the lowered interest, he will only pay a monthly amortization for this loan of P1,500 for 25 years under the Abot-Kabay Pabahay Housing loan program.

Housing is one of the major programs now prioritized by the government in its legacy phase commitment to make Filipinos enjoy the benefits of of economic reforms.

For the Magaan Pabahay Disenteng Buhay Loan program, targeted are the foreclosed properties which are sold to the public and even non-Pag-IBIG members but prioritizes those who are the owners themselves.

Tolentino said the payment interests were lowered in consideration of government employees who have low net pays. The lowered interests in housing loans were already made effective June 25 of this year. Pag-IBIG stipulates that a member availing of the housing loan must have P3,000 net pay left after deductions of his loan amortization.

Pag-IBIG is also rewarding housing loan borrowers who pay on time. According to Tolentino, borrowers who pay on time are entitled to a maximum discount of two percent on the interest.

Tolentino said there are already many Pag-IBIG members in Aklan but she is urging those who are not yet members especially from the private sector to apply for membership. The additional members will make the Aklan office here an Extension office and not just a service center, Tolentino said. (PIA/Venus G. Villanueva)