Pag-IBIG and SM forge partnership in collecting housing loan amortizations
Pag-IBIG Fund has recently forged partnership with the giant retailer SM in collecting the former’s borrowers housing loan repayments all over the country through the SM Bills Payment Systems Facility. Transaction wise, this facility will provide the borrowers with more ease and flexibility in paying their housing loan amortizations since bills payment counters of SM malls are open until 8:00 p.m. during weekdays and can accept payments during weekends, while Pag-IBIG Fund and the banks are only open from 8:00 to 5:00 pm from Mondays thru Fridays and are closed during weekends.
In this payment facility, the following shall be observed:
a. Only member-borrowers with housing loan (HL) monthly billing statement may proceed to any SM branches nationwide;
b. SM tellers shall check the due date indicated on the HL monthly billing statement. If beyond due date, member-borrower shall be required to pay directly to concerned Pag-IBIG branches;
c. Only exact/excess amount shall be accepted;
d. Payments shall be in the form of cash or local clearing checks;
e. SM tellers shall validate upper portion of the HL monthly billing statement to indicate payment; and
f. Acknowledgement receipt (AR) shall be issued by SM Mart Inc. The AR and the validated upper portion of the billing statement will serve as official receipt.
