Last week, I suddenly needed ₱10,000 because my brother's car broke down and he couldn't get to work, so I had to lend him some cash. I thought it would be easy to get a loan, but boy was I wrong. I tried applying for a personal loan from a bank, but they rejected me because of my credit score. I was worried because I really needed the money, and I didn't know what to do.
I started searching online for other options and came across some lenders with ridiculously high interest rates - we're talking 30% per annum. I was stressed just thinking about how I would pay that back. I felt frustrated because I knew I wasn't getting a good deal, but I didn't have any other choice. I was about to give up when I found this blog post that talked about the new Pag-IBIG digital loan portal. I was like, "What's this?" So, I started reading and learned that Pag-IBIG Fund has this new platform where you can apply for loans online.
I was skeptical at first, but I decided to check it out. I found this while searching online, and it led me to https://www.creditkaagapay.com/, which had a lot of helpful information about the loan options available. I was relieved to find out that the interest rates for Pag-IBIG loans are actually pretty competitive, especially for housing loans. For example, I saw that the interest rate for a ₱1,000,000 housing loan can be as low as 3% per annum. I was thinking, "This could be a good option for me in the future."
But, I digress. I needed money ASAP, so I looked into the calamity loan option. It's not exactly what I needed, but it's better than nothing. The interest rate is around 5% per annum, and the repayment term is 36 months. I was thinking, "Okay, this might work." I applied for a loan of ₱10,000, and I'm still waiting to hear back. Fingers crossed.
Just sharing in case this helps someone who's in a similar situation. I know I'm not the only one who's struggling to make ends meet. Has anyone else tried the Pag-IBIG digital loan portal? What was your experience like?
