FAQs about Pag-IBIG 3-Month Moratorium Loan

FAQs about Pag-IBIG 3-Month Moratorium Loan

Millions of Filipino workers are affected in any part of the country during the Enhanced Community Quarantine (ECQ). Most of them were unable to work because of the temporary or permanent closure of their workplace. This led them to have no means of income that supports their family. With this scenario, some government agencies decided to help them out with their financial struggles. 

The Home Development Mutual Fund (HDMF), better known as the Pag-IBIG Fund, is one agency that assists its members by offering a three (3) month moratorium to its borrowers. This program enables them to delay or postpone their loan payments for three months.

Members can avail of this optional three (3) month moratorium whose income has been gravely affected by the enhanced community quarantine.

FAQs about Pag-IBIG 3-Month Moratorium Loan

This article will have a deeper perspective on some of the frequently asked questions about the Pag-IBIG three (3) month moratorium loan.

Here are some of them:

1. What is Moratorium?

What is Moratorium

In its simplest terms, an act to temporarily delay or postpone the payment of something is called a moratorium. You can also say that it is the extension of the due date which results in a longer loan term. This technically gives borrowers the chance to extend their loan payments. Pag-IBIG Fund agency imposed a three (3) month moratorium loan program to help its members during the COVID-19 pandemic. 

2. Who is eligible for this?

Who is eligible for thisEligible members who can apply for this are members with loans such as Pag-IBIG Housing Loan, Calamity Loan, and Multi-Purpose Loan whose income has been affected by the State of Calamity and that of the State of Public Health Emergency.



3. Do you need to apply for it?

Do you need to apply for itYes, definitely, one needs to apply for it because it is not automatic. This means that it is optional, and if the member would not want to go for it, they may not need to apply. Applications will be evaluated according to specific rules and standards set by the agency.



4. Is there a deadline for application?

Deadline for application

The application will only run until June 15, 2020.

5. How will I know if my application for a moratorium or due date payment extension is approved?

due date payment extension is approved

They will inform you through text messages or email about the result of your application.

6. Do I need to pay the processing fee?

Do I need to pay the processing feeThere is no processing fee to apply for the moratorium. The client only needs to pay for the three-month premium insurance automatically added to the first loan payment based on the extended due date once the application is approved.

7. What if I could not pay for my loan and my application for the moratorium is denied?

application for the moratorium is denied

Once you fail to pay for your loan, you will receive a notice from the agency to pay for your dues for you also to be able to update your loan account to Pag-IBIG Fund.

Moreover, they will send your billing statement if it is a Pag-IBIG housing loan, and it may be sent through your employer if it is a Multi-Purpose Loan or Calamity Loan.

8. What are the benefits of this program?

benefits of this program

This program will suspend loan payments for three (3) months, which would greatly help struggling borrowers.

9. What is the basis of this program?

Basis of this program

This program is based on the offer of the Pag-IBIG Fund agency to give relief to members who are highly affected by the pandemic.

10. Will interest and penalties are charged during the deferred period?

Interest and penalties

There will be no interest and penalties to be charged during the deferred period.




11. Which due dates are covered in this program?

Due dates covered

Housing Loan due dates from March 16, 2020, until June 15, 2020; Multi-Purpose Loan (MPL) and Calamity Loan due dates from April 15, 2020, until June 15, 2020, are covered by this program.



12. I have multiple loans; can I apply them all for a moratorium?

Multiple loan apply moratoriumDefinitely Yes. You can apply all of your Pag-IBIG loans under this three (3) month moratorium program for us to evaluate your application. Even if one of your applications is approved, there is still no guarantee that your other loans will be supported as well. It will still undergo assessment and evaluation.


13. Can I ask my employer to apply on my behalf for this moratorium or extension of payment due dates for my Pag-IBIG Multi-Purpose Loan or Calamity Loan?

Employer extension multi-purpose loan or calamity loanIf you are employed, definitely your employer can apply for this program on your behalf. You can ask them to extend your due dates through the moratorium. You have to provide your information, such as Pag-IBIG membership identification number, the due dates of your loan payment, and the type of loan you are applying for in the moratorium.

14. How can I apply for this program?

How can I apply for this programYou can apply to this program online through the Virtual Pag-IBIG website. Visit www.pagibigfundservices.com/virtualpagibig/LoanMoratorium.aspx. You have to take note of the reference number given to you, which will be sent via text message as proof that we have received your application.

15. Will there be an added penalty to my loan if my application for moratorium or extension of payment due date is not approved and if I cannot pay for my loan?

penalty to my loan

No additional penalty will be added if you fail to pay your dues because the agency offers another program, which is the grace period. It will be automatically given to all borrowers with an existing loan, based on Republic Act No. 11469 or the “Bayanihan to Heal as One Act.”

This means that if your application for the three(3) month moratorium got rejected, you would still be given a grace period for your loan payments from March 17 if you reside in an area under the enhanced community quarantine.

The accrued interest will be added to your loan payment under this program, which you can pay anytime during the term of your loan.

Final Thoughts

During these difficult times, the Philippine government continues to find ways to improve its programs to respond to the needs of the Filipinos. Launching this Pag-IBIG three-month moratorium loan program helps its borrowers to their finances by lengthening its payment terms. 

Recognizing these challenging periods of our lives, we have to admit that we have to rely on our social system and their programs in helping us to cope with the pandemic. Pag-IBIG fund is poised to aid its members as this health emergency continues. It is not only helpful for Pag-IBIG members, but it is also a sincere act of goodwill from our government as this can be useful for you and your family during this crisis.



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