Pag-IBIG Loan Philippines – Pag-IBIG Fund information

What is Pag-IBIG Fund Multi-Purpose Loan?

The Pag-IBIG Fund Multi-Purpose Loan or MPL is a cash loan designed to help our members with any immediate financial need. A member can borrow up to 80% of their Pag-IBIG Regular Savings, and can be processed in as fast as 2 days! Read more below and learn how to secure cash through the Pag-IBIG Multi-Purpose Loan.
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The Pag-IBIG MPL can be used for any of the following purposes:

  • Medical expenses;
  • Minor home improvement;
  • Capital for a small business;
  • Tuition fee and other education-related expenses;
  • Purchase of furniture, appliances or electronic gadgets;
  • Payment of utility and credit card bills;
  • Vacation and travel;
  • Special events;
  • Car repair; or
  • Other needs

See also: Personal loan Philippines – 12 things you need to know

Pag-IBIG MPL requirements

You must have the following to qualify for the loan:

  • At least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program;
  • Active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application;
  • If with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default; and
  • Proof of income.

Pag-IBIG MPL loan limit

Qualified members can borrow up to 80% of their total Pag-IBIG Regular Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned.

This means that the more you save in your Pag-IBIG Regular Savings, the higher loan amount you may apply for via the MPL.

If you have an outstanding Pag-IBIG Calamity Loan, the amount you may borrow shall be the difference between the 80% of your total Pag-IBIG Regular Savings and the outstanding balance of your Pag-IBIG Calamity Loan.

Pag-IBIG MPL loan interest rates

The MPL comes at a low interest rate of 10.5 percent per annum.

It is worth to note that a significant part of the income derived by Pag-IBIG Fund from the MPL’s interest is returned to its members in the form of dividends.

How to repay Pag-IBIG MPL

The loan is payable within three years or 36 months and comes with a deferred first payment. Members may also opt to pay their loans in two years or 24 months.

If you are an employed member, you may pay your loan amortizations via a salary deduction arrangement with your employer. Should you wish to accelerate or advance your payments, you may do so via Virtual Pag-IBIG, at any Pag-IBIG Fund branch near you, or through any of our accredited collecting partners’ outlets or their online payment channels.

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If you are a self-employed individual or an Overseas Filipino Worker (OFW), you may pay your loan amortizations via Virtual Pag-IBIG, at any Pag-IBIG Fund branch near you, or through any of our accredited collecting partners’ outlets or their online payment channels.

How do I apply for a Pag-IBIG MPL?

You can easily apply for a Pag-IBIG MPL via the following options:

Online, via Virtual Pag-IBIG by:

Uploading your duly accomplished loan application form and requirements*; or

Completing the Pag-IBIG MPL application online form, for members whose employers are enrolled under the Virtual Pag-IBIG for Employers**

Over-the-counter, by submitting your duly accomplished loan application form and requirements through your employer or personally, at the Pag-IBIG Fund branch nearest you.

*available to members with a Pag-IBIG Loyalty Card Plus or cashcards issued by any of Pag-IBIG Fund’s partner banks for such purpose.

** available to members with a Pag-IBIG Loyalty Card Plus only

What is Pag-IBIG Fund Calamity Loan

The Pag-IBIG Fund Calamity Loan is a cash loan facility to assist Pag-IBIG Fund members who reside in areas declared under a state of calamity and are affected by such disasters. The loan seeks to provide immediate financial assistance to help members recover from the effects of such calamity. It comes at a low interest rate of 5.95% per annum. The loan is payable within 24 months and has a deferred first payment.

What is Virtual Pag-IBIG?

The Virtual Pag-IBIG is Pag-IBIG Fund’s online service facility that allows you to safely and conveniently access Pag-IBIG Fund’s services anytime, anywhere using just your smartphone or computer with internet connection.

It also provides a chat service with a Lingkod Pag-IBIG service officer ready to answer your inquiries or concerns.

It’s like having your own Pag-IBIG Fund branch ready to serve you 24/7!

What is the Pag-IBIG Housing Loan?

The Pag-IBIG Fund Housing Loan allows you to borrow up to P6 million under very low rates and at the friendliest terms, to help you fulfill your dream of owning a home!

Pag-IBIG Housing Loan requirements

You must have the following to qualify for the loan:

At least twenty-four (24) monthly membership savings (a lump sum payment of the required monthly membership savings is allowed);

Age of not more than sixty-five (65) years at the date of application and not more than seventy (70) years at maturity of the loan;

Legal capacity to encumber real property;

Ability to pass satisfactory background / credit and employment / business checks of Pag-IBIG Fund;

No outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of the loan application;

No Pag-IBIG Housing Loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion en pago.

If with an existing Pag-IBIG Housing Loan as a principal buyer / borrower or co-buyer / co-borrower, the account must be updated.

Pag-IBIG Housing Loan interest rates

The interest rates of our Pag-IBIG Housing Loan remain at its lowest levels. We keep our rates low to help you secure a home under the most affordable terms.

The interest rate on your loan is based on the repricing period that you choose. Here are our rates effective 01 July 2021:

Rates per Re-Pricing Period – Effective January to June 2021-
1-Yr* Fixing 5.750%
3-Yr Fixing 6.250%
5-Yr Fixing 6.500%
10-Yr Fixing 7.250%
15-Yr Fixing 7.875%
20-Yr Fixing 8.500%
25-Yr Fixing 9.125%
30-Yr Fixing 9.875%

See also: SSS loan Philippines – Information you should know about salary loan

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