Which statement about the Pag-IBIG Calamity Loan is incorrect?

The Pag-IBIG Calamity Loan program is designed to assist members financially during times of calamities, allowing them to access funds when needed most. The details of the program include the eligibility for members who are affected by specific calamities, typically those that have been declared by the government.

While the Program does assist affected members, not every calamity with any degree of severity qualifies for the loan. The loan is specifically aimed at members who are affected by calamities that have been officially identified and verified, which may not include all possible instances of hardship or disaster. Therefore, stating that affected members can be those from calamities with any degree of severity misrepresents the criteria set by the Pag-IBIG fund for loan eligibility.

In terms of the other options, members being able to borrow up to 80% of their total savings is consistent with the terms of the loan, making it a useful financial resource. The interest rate of 5.95% per annum aligns with program guidelines and is designed to be affordable for members. Additionally, the repayment terms, including a three-year payment period with a three-month grace period, reflect the support structure intended to ease financial burdens on members during recovery periods after calamities.