Pag-IBIG offers 'promo rates' for housing loans until December

Arianne Merez, ABS-CBN News

Posted at Jul 13 2020 04:04 PM

Pag-Ibig (Home Development Mutual Fund) office at the one-stop center in Ali Mall, Cubao Quezon City. FILE / ABS-CBN News.

MANILA -- Filipinos can avail of low-interest rates on housing loans from the Home Development Mutual Fund (Pag-IBIG Fund) until the end of the year, Malacañang announced Monday.

Special interest rates on regular housing loans can be availed by Pag-IBIG members until the end of the year, Presidential Spokesman Harry Roque said.

Pag-IBIG is offering a special low-interest rate of 4.985 percent under a one-year repricing period, and a 5.375 percent interest per annum under a three-year repricing period.

The promo rates reduced the agency’s previous rates, priced at 5.375 percent per annum for the 1-year repricing, and 6.375 percent per annum for the 3-year repricing period.

"Ito po ang pinakamababang rate sa ilalim ng regular housing loan program at available po ito sa Pag-IBIG members hanggang sa katapusan ng taon," Roque said.

(This is the lowest rate under the regular housing loan program and this is available for Pag-IBIG members until the end of the year.)

Department of Human Settlements and Urban Development Secretary Eduardo Del Rosario earlier announced a 3-month moratorium until June on short-term and calamity loans from Pag-IBIG fund.