PAG-IBIG Fund is a government-run mutual fund developed for the primary purpose of providing affordable housing programs for the majority of Pinoys. Aside from housing, another goal of the PAG-IBIG Fund is to generate savings. Considering the inflation rate, this option is a practical means of purchasing a property or getting the money you need during emergencies.
In 2009, under RA 9679, Pag-IBIG membership was made mandatory to all employees that are covered by the Social Security System (SSS) and Government Service Insurance System (GSIS). The good thing about being a member of the PAG – IBIG Fund is that you can withdraw your savings after 2 decades of membership, after completing a total of 240 monthly contributions.
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The fund is primarily designed to provide affordable housing loans to its members. This enables contributors to have enough money to pay for their dream house. Borrowers then pay PAG-IBIG for their housing loan with a reasonable repayment amount for an extended time.
Besides housing loans, the PAG-IBIG Fund is able to extend loan facilities for other purposes where contributors can borrow short term loans from the fund. Their loan products other than their housing loan can provide financial assistance to members who need livelihood, medical and even educational assistance. Borrowing money from the PAG-IBIG Fund is convenient and practical considering the minimal deductions that you will have to bear.
Here are the loans that you can apply for in Pag-IBIG today.
Pag-IBIG Calamity Loan
In an event that there is an earthquake, flood or any other calamity, it is also possible that you can avail of the calamity loan. Similar to the requirements on how to avail of a short term loan, it is also applicable to this setup. However, you need to be residing in an area by which the Office of the President or local government declared under the state of calamity. It is also important that if you have an existing housing loan, multi-purpose loan, or even a calamity loan, it is important that it shouldn’t be in default as of the date of the loan application.
The amount of loan that you can borrow depends on the borrower’s total accumulated value, subject to the terms and conditions of the program. You may get as much as 80% of your total accumulated value. This loan has been made in order to provide leeway for those who were affected by calamities. The repayment terms for a calamity loan is up to 2 years plus a 3-month grace period.
Eligibility
For someone getting a new loan, there are only four PAG IBIG loan requirements that you need to meet.
- You need to contribute at least 24 months to PAG-IBIG.
- You need to showcase that you were an active member at the time of loan application. You have to complete at least 5 monthly contributions in the last 6 months.
- The applicant should have a net pay of not less than the minimum requirement of the General Appropriation Act or company policy.
- If you have an existing calamity loan, you can only avail of MPL (Multi-Purpose Loan) if you complete at least 6 monthly amortizations. Outstanding balance, interest, and penalties shall be deducted from the MPL.
If you are looking for a loan renewal, there is a different set of requirements.
- With the payment of at least 6 monthly amortizations. Similar to how existing calamity loans work, the outstanding balance, with interest and penalties shall be deducted from the new loan.
- An active member at the time of the loan, who completed at least 5 of the last 6 months of contributions.
- The member’s net take-home pay should not fall below the minimum requirement of General Appropriation or company policy.
How much can you loan?
You may get as much as 80% of your total accumulated value. This loan has been made in order to provide leeway for those who were affected by calamities. The repayment terms for a calamity loan is up to 2 years plus 3-month grace period.
Number of contributions completed upon application: 60 months
Monthly Pag-IBIG contribution: 200
Percentageyou can loan: 80%’
60x 200 x .80 = PHP9,600
With the current COVID-19 pandemic happening worldwide, this calamity is already affecting the global economy and would soon manifest on our local communities with shortages in food and supplies. For those who are affected financially and are in need of urgent assistance, you can refer to our guide on how to apply online for Pag-IBIG Calamity Loan and have your request submitted as soon as you can.
Multi-purpose Salary Loan (MPL)
This is a cash or salary loan offered by Pag-IBIG to its members who have religiously settled their monthly premiums for 24 straight months. Members can borrow up to 80% of their Pag-IBIG Regular Savings, and it can be paid up to 24 months.
This cash loan program extends cash loan assistance to members for any type of financial needs. It can be any of the following:
- Minor home improvement
- Additional 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
Eligibility
To qualify for this loan, you must meet the following criteria:
- You must be an actively contributing member with at least twenty-four (24) monthly membership savings (MS)
- Sufficient proof of income
- If you have an existing Pag-IBIG Fund Housing Loan, MPL and/or Calamity Loan, your payments must be updated.
How much can you loan?
The amount you can loan from Pag-IBIG will depend on the number of months you have contributed (premium) and the total accumulated value (TAV) of your contribution. At the very least you must have completed 24 months of your monthly contribution.
| Monthly contribution | Amount you can loan |
| 24 to 59 months | 60% of contribution’s TAV |
| 60 to 119 months | 70% of contribution’s TAV |
| 120 months | 80% of contribution’sTAV |
Example 1
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Number of contributions completed upon application: 24 months
Monthly Pag-IBIG contribution: 200
Percentage of total contribution you can loan: 60%
24 x 200 x 0.60 = PHP2,880
Example 2
Number of contributions completed upon application: 130 months
Monthly Pag-IBIG contribution: 200
Percentage of total contribution you can loan: 80%’
120 x 200 x .80 = PHP19,200
Loan disbursement
According to Pag-IBIG most recent guidelines on their online applilcation, Calamity loans and Multi-purpose Salary Loans will be disbursed to the applicant’s Loyalty Card Plus, Landbank, UCPB or DBP cash card – whichever they have are holding and authorized in their application.
The funds will be disbursed to the member’s respective account within 3 to 5 business days from the time of application.
How to apply for a Pag-IBIG Loan online?
Pag-IBIG has streamlined the process to facilitate the immediate financial needs of its members due to the recently enhanced community quarantine. The process, however, is only applicable for recent applications until the lockdown is finished.
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- Download and accomplish the required forms
The fillable loan form can be downloaded online and it does not require your signature.
- For Multi-Purpose Salary Loan (MPL) Form, download it here.
- For the fillable Calamity Loan Form, download it here.
- Save the filled-out form as PDF file
- Submit the form
Email the duly accomplished PDF forms to your company HR, authorized company representative, or fund coordinator along with (1) valid ID and the front and back images of your Loyalty Card Plus, or Landbank, UCPB or DBP cash card.
The company HR, authorized representative, or fund coordinator will then e-mail the following to the Pag-IBIG Fund email address designated for your area:
- The filled-out ‘Employer Confirmation of STL Application’ bearing the applicant’s name.
- Duly accomplished form by the authorized company representative or fund coordinator can download this fillable form.
- Send you MPL and/or Calamity loan to the Pag-IBIG branch near you via the following emails:
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- NCRNorth@pagibigfund.gov.ph
For members served by our GMA Kamuning, Quezon Avenue, Commonwealth Avenue, Cubao, Marikina, Caloocan – EDSA, Valenzuela, Pasig, Mandaluyong – Shaw Zentrum and Antipolo branches - NCRSouth@pagibigfund.gov.ph
For those served by their Makati-Buendia I, Binan, Makati-Ayala Avenue, Makati-Buendia II, Makati-JP Rizal, Taguig – Gate 3 Plaza, Guadalupe-EDSA, Muntinlupa, SM Aura, Intramuros, Sta. Mesa, Binondo, Pasay, Las Pinas-Robinsons Place, Paranaque, Imus, Rosario, and Dasmarinas branches - Ilocos@pagibigfund.gov.ph
For members served by our La Union, Laoag, Vigan, Dagupan, Urdaneta, and Baguio branches - Cagayanvalley@pagibigfund.gov.ph
For those served by our Tuguegarao, Solano, and Cauayan branches - Centralluzon@pagibigfund.gov.ph
For members served by our San Fernando, Tarlac, Angeles, SBMA, Balanga, Malolos, Baliwag, Cabanatuan, and Meycauayan branches - Southerntagalog@pagibigfund.gov.ph
For members served by our Lucena, Batangas, Lipa, Calamba, San Pablo, Sta. Rosa, Calapan, and Palawan branches - Bicol@pagibigfund.gov.ph
For members served by our Legazpi and Naga branches - Centraleastvisayas@pagibigfund.gov.ph
For those served by our Cebu-Ayala, Dumaguete, Talisay, Toledo, Cebu-Colon, Mandaue, Danao, Mactan, Tagbilaran, Tacloban, Calbayog, and Ormoc branches - Westvisayas@pagibigfund.gov.ph
For members served by our Iloilo-Manduriao, Iloillo-Molo, Kalibo, San Jose de Buenavista, Roxas, Bacolod, Kabankalan, and Sagay branches - Northmindanao@pagibigfund.gov.ph
For those served by our CDO-Lapasan, CDO-Carmen, Valencia, Butuan, San Francisco, Surigao, and Iligan branches - Westmindanao@pagibigfund.gov.ph
For members served by our Zamboanga, Dipolog, and Pagadian branches - Southwestmindanao@pagibigfund.gov.ph
For members served by their Davao-Bajada, Davao-Matina, Davao-Lanang, Digos, Tagum, Panabo, General Santos, Polomolok, Koronadal, Kidapawan, and Cotabato branches
If you would like to learn more about additional features, read our guide on how to register and use Pag-IBIG online facilities so you can access and monitor your account without leaving your house.
How to pay for your Pag-IBIG loans?
Both the calamity and MPL are payable within 24 months, and the payment will be deducted from your monthly salary. The loan repayment will start on the 3rd month from the release date of your loan.
Pag-IBIG Housing Loan
This is the primary loan service offered by the Pag-IBIG fund. One of the main benefits of being a member of the Pag-IBIG Fund is the housing loan. If you are not over 65 years old and have remitted 24 monthly contributions to Pag-IBIG Fund, you may avail of this housing loan. You should not have any outstanding housing or multi-purpose loans with Pag-IBIG, nor should you have a Pag-IBIG housing loan that had been canceled, bought back, or foreclosed.
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Even minimum wage earners can have the opportunity to buy their own homes through the Affordable Housing Program. With the End-User Financing Program, members can borrow up to ₱6 million. The maximum repayment period for a Pag-IBIG Fund housing loan is 30 years. Know how to apply for one easily with our step-by-step guide on how to get a Pag-IBIG Housing Loan.
For additional details, especially if you want to compare other housing loans that can be available to you, we have prepared a helpful guide on the comparison of commercial bank loans, SSS loans, and Pag-IBIG loans to learn about their differences, benefits, and requirements for each provider.