By Ma. Teresa Montemayor | Philippine News Agency
The Pag-IBIG Fund announced on Tuesday the rollout of the Special Assistance for Financial Emergencies (SAFE) Loan program in line with directives from President Ferdinand R. Marcos Jr. to provide timely and practical relief to Filipino workers.
The emergency cash facility allows qualified members to manage rising daily expenses, such as fuel, electricity, and transport costs, driven by the lingering global economic effects of the Middle East conflict.
Department of Human Settlements and Urban Development (DHSUD) Secretary and Pag-IBIG Fund Board Chairman Jose Ramon Aliling said the SAFE Loan extends the agency’s response beyond the special benefits package previously granted to repatriated overseas Filipino workers (OFWs).
“We first extended assistance to our repatriated OFW members because they were directly affected by the situation in the Middle East,” he said.
“Now, we are also providing added support to qualified members here at home who may feel the effects through their daily expenses. Pag-IBIG Fund is here to provide help that is practical, affordable, and within reach.”
Under the guidelines of the emergency program, qualified members can borrow up to P10,000 or up to 90% of their total Pag-IBIG Regular Savings, whichever is lower.
The loan features a competitive interest rate of 5.95% per annum, with flexible repayment periods spanning one, two, or three years depending on the borrower’s preference.
Members with active Pag-IBIG Multi-Purpose Loans or Calamity Loans remain eligible to apply for the SAFE Loan.
The contractible amount will depend on their remaining borrowable equity, ensuring that their combined outstanding short-term loans do not exceed the aggregate 90% cap of their regular savings.
The deadline for submitting SAFE Loan applications is set for Sept. 8, 2026.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta highlighted that the digitized and branch-wide availability of the loan serves as a protective cushion against predatory, high-interest lenders.
“We made the SAFE Loan simple and easy to access so our members can apply with greater convenience and receive their loans quickly once approved,” Acosta said.
“They may apply through Virtual Pag-IBIG or at any Pag-IBIG Fund branch, and the loan proceeds may be credited directly to their Pag-IBIG Loyalty Card Plus.”
Acosta said the program incorporates a structured three-month grace period before the commencement of the first monthly amortization.
“For a P10,000 loan payable over three years, the monthly payment is as low as PHP308, giving members a manageable way to address urgent needs without resorting to high-interest loans,” she added.
Acosta also urged borrowers to maintain up-to-date accounts to ensure the cyclical availability of the state-backed mutual fund’s financial relief systems.
