THE National Home Mortgage Finance Corp. (NHMFC) or Pag-Ibig called on Cebuanos over the weekend to invest for as low as P5,000 in their Bahay Bonds 2 project.
Pag-Ibig President Felixberto Bustos Jr. said the Bahay Bonds 2 allows everyone including middle to low income households to invest and earn double their money at a tax-free interest rate of 4.80 percent a year.
“The interest rate is more than double compared to the rates of time deposits,” Bustos said.
The Land Bank of the Philippines (LBP) is assigned as the selling agent of bonds to the primary market.
The Bahay Bonds is a five-year residential mortgage-backed securitization program aimed at raising P300 to P604 million for Pag-Ibig in order to sustain its housing loan services to its beneficiaries.
First launched on March 23, 2009, Pag-Ibig has raised P2.06 billion in proceeds from the sales of the bonds.
In last Friday’s investors’ briefing at the Crown Regency Tower, Bustos said they started selling the Bahay Bonds last July 26.
This will continue until August 7 after which the bonds will be issued by the LBP on Aug. 17. Bustos said investors will be repaid after five years on its maturity date of Aug. 17, 2017.
The bigger the amount invested, the bigger the return for the investors, he said.
Bustos said the Bahay Bonds are less risky than other instruments since it is guaranteed by the Home Guaranty Corp. (HGC).
The agency is backed up by the loan of big property developers and the national government itself.
“These developers have made a name in the industry as they are in the industry for more than nine years,” Bustos said.
Maria Annabelle Bautista, director of the Philippine Dealing and Exchange Corp. (PDEx) said the bonds are marketable since it will be listed to them.
Those interested to purchase the Bahay Bonds must first open a peso deposit account and fill up an application form at the nearest Land Bank office.
Investors will receive a validated application to purchase upon payment of Bahay Bonds and a registered confirmation will be issued to buyers later on.
In an earlier development, Pag-Ibig has urged all employers to register and update their information using the online employer resgistration system of the Fund, which which can be accessed at www.pagibigfund.gov.ph.
Starting last July 1, all transactions with Pag-IBIG Fund would be based on the Members Identification (MID) or Registration Tracking Number (RTN).
Employers must ensure that their employees are registered with the Fund. They must indicate the MID or RTN of their employees in the Membership Contribution Remittance Form (MCRF) and on the statement of deduction of loan amortization remittances.
Those who do not have MID or RTN must register online to avoid difficulty or delay in posting their contributions.
For more details, Pag-IBIG urges employers and members to call 415-5002 or visit their office at the Pag-IBIG Fund-WT Corporate Tower, Mindanao Avenue, Cebu Business Park, Cebu City, or Dumaguete Extension Office, Phil. Nat’l. Red Cross Bldg., Legaspi Street, Dumaguete City, with tel. no. (035) 225-7713.(PIA-7 and Pag-IBIG Fund Cebu)/with inquirer report