How to Apply the Pag IBIG Fund 3-month Moratorium

With COVID-19 still on the rise and ECQ in Cebu City is still extended, I am glad to know that those who have loans in Pag-IBIG Fund can opt not to pay for their dues. This is valid for three months which means the members can skip paying for three months and Pag-IBIG won't be charging any interests.

According to the Pag-IBIG Fund Facebook page, this offer is open to members whose income or livelihood has been impaired due to the Community Quarantine or to the temporary suspension/closure of their employer/business following the declaration of State of Calamity and State of Public Health Emergency. The offer is available from March 16 until June 15, 2020 and is available to multiple loan types if you have multiple loans. Republic Act No. 11469.

I understand that it is hard to distinguish if one is qualified or not but Pag-IBIG somehow had already considered every member to be qualified. In fact, although we are always paying our dues every month, we received a text message notification stating:

In line with the Bayanihan to Heal as One Act, we have automatically granted a grace period on your loan payments which fall due within the Enhanced Community Quarantine (ECQ) and its extension. As such, please disregard the Monthly Billing Statement on your Pag-IBIG Housing Loan you received during this ECQ period. We shall notify you of your loan payment dues once we have made the adjustments on your account. Thank you and stay safe.

However, the moratorium is good as it allows no payment for three months for all loan types, may it be housing or regular salary loans. To apply, simply follow these steps:

1. Go to virtual Pag-IBIG via https://www.pagibigfundservices.com/virtua.../LoanMoratorium
2. Enter loan and personal details
3. Give active Philippine mobile number to receive One-Time-Pin (OTP)
4. Enter the OTP and click submit to receive your reference number. 

That's it. When this was launched, the OTP message is delayed but they had already made changes on this and currently, the process is already faster and more convenient especially that it is only done online at the comfort of each home.

The only thing disadvantage of this is the loan term is extended but of course the advantage outweighs this. But take note that this doesn't mean an automatic approval as the procedure may still go through assessment within Pag-IBIG. But once approved, Pag-IBIG will be sending out a notification text or email.

I do hope that all Pag-IBIG members are aware of the said moratorium.