GUIDE: How to Apply for Pag-IBIG Multi-Purpose Loan

Strapped for cash?
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Unforeseen expenses can ruin budgets, especially with the rising prices of goods and services.

For those who are strapped for cash, one source of emergency funds is loans. For Pag-IBIG members, the government's savings vehicle offers a multi-purpose loan program for immediate financial needs such as medical bills and house repairs.

Here's everything you need to know about the Pag-IBIG Fund Multi-Purpose Loan:

What is the Pag-IBIG Fund Multi-Purpose Loan?

The Pag-IBIG Fund Multi-Purpose Loan is a cash loan program designed to help members with immediate financial needs.

The loan can be used for different purposes such as emergency expenses, utility bills, capital for a small business, tuition and other education-related expenses, special events, vacation and travel, and home repairs among others.

How much can I borrow?

Pag-IBIG members can borrow up to 80% of their Pag-IBIG Regular Savings. The loan can be processed in as fast as two days.

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This means that members with higher PAG-IBIG savings can borrow more.

How much is the interest rate?

The Pag-IBIG Fund Multi-Purpose Loan has an interest rate of 10.5% per year. The loan is payable within three years or 36 months and comes with a deferred first payment.

Members can also choose to pay off their loans in two years or 24 months.

How do I qualify for the loan program?

To qualify, you must meet the following criteria:

  • At least 24 monthly membership savings under the Pag-IBIG Regular Savings program
  • Active membership, by having at least one monthly membership savings within the last six  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
  • Have proof of income

What are the requirements?

Here are the requirements to apply for a Pag-IBIG Fund Multi-Purpose Loan:

1. Multi-Purpose Loan Application Form

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2. Valid ID

3. Proof of income

How to apply?

You can apply for a  Pag-IBIG Fund Multi-Purpose Loan either online or over-the-counter:

For online applications:

1. Upload your accomplished loan application form and requirements

2. Complete the Pag-IBIG MPL application online form, for members whose employers are enrolled under the Virtual Pag-IBIG for Employers. This is available to members with a Pag-IBIG Loyalty Card Plus only.

For over-the-counter applications:

1. Submit the Multi-Purpose Loan Application Form and other requirements to the nearest PAG-IBIG branch.

2.  Get STL Acknowledgement Receipt (HQP-SLF-121).

3. Get loan proceeds on the scheduled date.

How do I pay my loan?

For employed members, you can pay your loan through salary deductions by arranging this with your employer.

You can also pay your loan via Virtual PAG-IBIG, at any PAG-IBIG Fund branch near you, or through any of PAG-IBIG's accredited online collecting partners.


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