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Here on Philippine Realty TV we're going to talk about fun evening of a different kind the kind of doesn't break hearts but actually builds dream the home development mutual fund better known as the buggy big fund is a government financial institution that functions both as a national savings program in a source of affordable shelter financing for Filipino workers Becky big is an acronym which stands for auto loans Akin Mufasa Macau Banco industrial at governor a fitting name indeed for an organization anchored on a strong synergy between these four sectors of site membership to Peggy big is mandatory for all Filipino employees workers and professionals earning at least 1000 per month including those who work overseas its vision is simple for every Filipino worker to save the beginning fund and have decent shelter hence through this compulsory scheme each member gains access to the three main benefits that paging offers the benefits of being a petty big fund member are number one every month you will be contributing to the fund and that's your money, so it's very important for the member to be aware that that money that they put in is not wasted and after the membership period you could withdraw all the money that you put in it's also in our Charter we are mandated to invest the 70 percent of investible funds into housing and how do we now invest it in housing we lend it through housing loans, so that's a second benefit and major program of the paging fund which is to make available our housing loans aside from availing of our housing loan while a big fund also has other loan product, so we make also available to them our short-term loans under our short-term loans we have the multi-purpose alone, so that means that they can borrow eighty percent of their savings of impact a big fund and spend it on any purpose, so that's why we call it a multi-purpose loan and aside from the multi-purpose loan we also have a calamity loan if you are living in an area declared under state of calamity you can avail of the calamity loan, and we have the lowest calamity interest-rate we have another benefit which we call the death benefit that means that if our member passes away there's a small amount of money that we will give to our members apart from the total savings that they can withdraw from fatigue upon and also the money that they save with us that money earns dividends for philippic on the dividends are tax-free and the savings are government guarantee our housing loan interest rates have significantly been reduced in the past year we have also outsourced our collection to collection agencies which are being accredited or used by private companies by that my credit card companies, and we have seen a market improvement in our collections, so that means more money also for us to invest in housing or to lend to our members also we've partnered with a lot of banks to collect our mandatory savings because we need to make it more convenient and efficient for...
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