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The Home Development Mutual Fund (HDMF), commonly known as the Pag-IBIG Fund (acronym of its Filipino name: Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno [a]), is a government-owned and controlled corporation under the Department of Human Settlements and Urban Development of the Philippines responsible for the administration of the national savings program and affordable ...
The agency responsible for implementation is the Social Security System (SSS), and also the Government Service Insurance System (GSIS), the Philippine Health Insurance Corporation (PhilHealth), and the Pag-IBIG Fund (Home Development Mutual Fund) use the card. [3] The card was also suggested to be used as a voter ID. [4]
SSS members can make 'salary' or 'calamity' loans. Salary loans are calculated based on a member's particular monthly salary credit. Calamity loans are for instances when the government has declared a state of calamity in the area where an SSS member lives, following disasters such as flooding and earthquakes. [19]
Secured lines of credit offer the lender the right to seize the asset in case of non-payment. Because their risk is lower, secured lines of credit typically come with a higher maximum credit limit and significantly lower interest rate. [3] On the other hand, unsecured lines of credit have higher interest rates than secured lines of credit.
A Statement of Assets, Liabilities, and Net Worth (SALN) [1] [2] is an annual document that all de jure government workers in the Philippines, whether regular or temporary, must complete and submit attesting under oath to their total assets and liabilities, including businesses and financial interests, that make up their net worth. [3]
Even though borrowers have until Dec. 31, 2023, to apply for student loan forgiveness, many are not waiting to start the application process. By applying now, borrowers who received Federal Pell...
Overseas Employment Certificate; Issued by: Philippines: Purpose: Verification of employment: Eligibility: Filipino citizenship; Valid employment from an employer outside the Philippines; Overseas Workers Welfare Administration (OWWA) membership, PhilHealth premium payment
Any principal reductions received during the loan period are not available to be drawn on, but rather have paid down the loan balance. Revolving or Open End: This type of loan (known informally as a Line of credit) allows the borrower to continue to borrow up to the original loan amount. Principal reductions are immediately available for future ...