00:00 [Music]
00:03 [Pag-ibig fund]
00:32 >> Good afternoon Alex.
00:34 >> Good afternoon Ruth. Good afternoon to all the viewers.
00:38 >> Let's talk about your educational loan.
00:41 What is this? Is this part of a multi-purpose loan? Please explain.
00:45 >> Yes, we have what we call a multi-purpose loan.
00:49 Our members can avail of this and they can use it for any expenses.
00:57 We know that education is very important for our families.
01:05 That's why we offer this multi-purpose loan for parents who need immediate financial assistance.
01:14 >> So, I am... Go ahead.
01:17 >> All members who have a monthly contribution of P24 are entitled to this.
01:25 The average loan amount depends on how long you are a member is around P22,000.
01:31 But it is up to the member if they want to lower the so-called desired loan.
01:37 It can be P5,000, P10,000 or P20,000 as long as they indicate it in their application loan.
01:42 We can process this for 2 to 3 days.
01:46 Once the documents are completed, we can process it as fast as 1 to 1.5 days.
01:54 The payment can be for 2 to 3 years.
01:59 For example, if you and Ruth chose P5,000 because you don't want to pay a large amount,
02:07 if you pay it in 2 years, it will be P256 a month.
02:13 For P10,000, it is around P510 and so on.
02:18 If you pay it in 3 years, it will be P185 a month.
02:24 So, this is a simple process.
02:27 We did not only simplify the process but we also lowered the amortization so that our fellow citizens will not have to pay a large amount.
02:33 >> Alex, I saw that your multi-purpose loan can have different purposes.
02:39 In particular, why are we saying that this is being offered as an educational loan?
02:46 Is this a requirement in the loan?
02:48 Or are there certain requirements to prove that you will use this as an educational loan?
02:53 >> There are no other requirements.
02:56 You are right.
02:58 Because we are in the year of the loan, we know that parents have problems with buying uniforms, tuition, shoes, and bags.
03:08 We are just reminding our parents so that they will not forget.
03:13 So, it is better to avoid this because you are a member and you will have a chance to run a low-debt.
03:19 >> What are the requirements? You mentioned earlier that the minimum contribution is 2 years.
03:25 What are the other requirements or are there certain documents to prove that this is being offered as an educational loan?
03:32 >> It is very easy, Ruth.
03:34 You just need to download the application form, a government valid ID,
03:41 and you can submit this.
03:43 If you have a loyalty card or cash card,
03:47 we want to pass it through so that you will not go back to the branch.
03:50 You just need to indicate your loyalty card number or land bank cash card so that you will not go back to the branch.
03:57 Those are the three basic requirements.
04:00 They can file via the virtual pag-ibig app.
04:05 You just need to upload the application form with a scanned copy of the ID and indicate your loyalty card number.
04:12 We will process it.
04:15 There is also a third way, which is to file via the employers that have a virtual app arrangement with the pag-ibig fund.
04:25 The process is the same for online filing.
04:28 The process is faster.
04:32 You just need to submit the requirements, one valid ID, loyalty card, and electronic application form.
04:38 >> Alex, what if they have an existing loan?
04:41 >> Okay.
04:43 If they have a multi-purpose loan or calamity loan that they have filed in the previous months,
04:53 as long as they are not in default,
04:57 meaning they are able to pay monthly without any deficit or debt,
05:03 and they do not fall within three months,
05:05 they can renew the loan and just reduce the existing debt, existing NPL or calamity loan.
05:15 In short, they can renew the loan.
05:17 >> Okay. Let's continue our discussion with the CEO of pag-ibig deputy for member services, Alex Aguilar,
05:25 who is in the newsroom here in CNN Philippines.
05:27 Let's go back to our show.
05:30 We are with the CEO of pag-ibig fund for member services, Alex Aguilar.
05:35 We are discussing the availability of their multi-purpose loan.
05:38 Alex, there is a question here on our Facebook Live, RSBZ.
05:42 He said that he filed an NPL one week ago, but there is still no result.
05:48 He filed it online.
05:50 Because you mentioned that the processing is two to three days.
05:53 It is possible that there is a problem here. How will he follow up?
05:55 >> Okay. Maybe later, he can text me his name.
06:00 But usually, if it reaches one week, there is a problem.
06:03 If it is filed online, there might be an issue with the scanned copy,
06:07 his uploaded ID or his application form.
06:13 But we will call. Usually, it is two to three days.
06:16 >> Okay. Another one, I don't know if you can answer this, Rene Destajo.
06:22 He is asking how to apply for a loyalty card.
06:25 Because he still doesn't have a primary ID.
06:28 >> Okay. He needs to go to the branch and show a government valid ID.
06:37 Because it is a requirement.
06:39 Driver's license, any government PhilHealth, SSS, any government issued ID.
06:47 Because it is needed for identity verification.
06:51 >> Okay.
06:52 He said that he only has PhilHealth and TIN.
06:55 Can he use BIR?
06:57 >> He can use TIN, but he needs to show other documents for verification.
07:05 Because the other BIR IDs, he doesn't have a picture or signature.
07:13 >> Okay. Since you are with us, let's talk about the Calamity Loan.
07:19 Recently, there were typhoons and places were submerged in the Calamity Loan.
07:23 And the Pag-ibig Fund also has that offer.
07:26 >> Yes. All the workers who are living in the areas affected by the calamity,
07:32 especially those in Pampanga, Bulacan, Bataan, some parts of La Union, Cagayan Valley,
07:38 they can have 90 days upon declaration of calamity
07:43 to file the Calamity Loan.
07:47 80% of your total savings or total savings in Pag-ibig,
07:51 2-3 days processing, as long as the document is complete.
07:55 You will also pay 2-3 years depending on the member's will.
08:01 That is the lowest interest loan at 5.95%.
08:06 Even the workers who work in Manila,
08:13 if their permanent residence is in the areas mentioned,
08:17 they can also file the Calamity Loan.
08:20 >> I saw that there are requirements like proof of income.
08:24 What if your record is lost or you are flooded?
08:27 What can they do? For example, your ID is wet.
08:30 You have a database, right?
08:32 >> Yes. If the document is lost,
08:40 they can issue a certification to the municipality or barangay
08:45 that they are residents of that area and their identity is verified.
08:50 They need the name, address, and other basic details, contact details.
08:56 They will also file an application with the employer's promissory note.
09:06 That is why it can be verified.
09:09 >> You mentioned that your MPL is maximum or average of P22,000.
09:14 How much can they borrow?
09:16 >> It is the same. The average is P22,000.
09:20 It depends on how long they have been in love.
09:24 For 10-20 years of love, as much as P50,000 to P60,000,
09:29 80% of the loan is theirs.
09:32 >> I know that other agencies offer house repairs.
09:38 Is there a case where your house was damaged?
09:41 Can you offer that kind of loan?
09:44 >> Multi-purpose loan is partly to pay for minor home damages.
09:52 But if it is big, they can offer additional housing loan
09:56 if they have an existing housing loan.
09:59 Another thing, especially for our housing loan borrowers,
10:05 if their house was damaged, they can go to our branch
10:09 and we will help them file insurance claims to repair their house.
10:16 All housing loans in love are current and can be paid for their amortization.
10:26 There is an insurance included. We will help them file.
10:31 >> Ronny Tobias asked if a calamity loan can be applied for 5 months.
10:36 You mentioned earlier that it can be applied for up to 3 months.
10:39 What can be the remedy?
10:41 >> If the person has not filed for 90 days, they can apply for a multi-purpose loan.
10:49 >> They can apply for a multi-purpose loan.
10:51 Where can they call for more contact numbers for love?
10:57 >> We have a call center. You can just dial the number of Pag-ibig Fund.
11:06 It's 872-44-244.
11:12 I'll repeat, 872-44-244.
11:17 >> Thank you very much to Pag-ibig Fund Deputy CEO for Member Services, Alex Aguilar.
11:22 Aguilar.
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