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.
Herein, how can I avail Pag-IBIG housing loan 2021?
The requirements are:
- 3 Sets Housing Loan Application with ID photos of the borrower (properly accomplished and duly notarized)
- 3 pcs 1 x 1 ID Picture.
- Verified Tax Identification Number.
- Employee Statement of Accumulated Value.
- Birth Certificate. …
- Foreign Marriage -Passport Copy of Spouse and 2 Valid ID’s with 3 Signatures.
Similarly, how can I check my Pag-IBIG contribution online?
How to check your Pag-IBIG contributions
- Step 1: Visit the official online portal. …
- Step 2: Log in to Virtual Pag IBIG with your username and password. …
- Step 3: Go to regular savings. …
- Step 4: Choose the preferred year. …
- Step 5: Save and print your copy.
How long does Pag-IBIG housing loan take?
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.
The Pag-IBIG Salary Loan, also known as the Pag-IBIG Multipurpose Loan, is a cash assistance program every Pag-IBIG member can choose to avail. If you’re a qualified member, you can borrow up to 80% of your Pag-IBIG regular savings and have your loan processed in as fast as two days.
Another simple computation to look at would be, if you have posted 36 monthly contributions, of which six has been within the last 12 months before submitting your application, you can loan up to PHP 15,000 or a one-month salary loan. This is also the usual amount that first-time borrowers can receive (minus taxes).
A qualified Pag-IBIG member shall be allowed to borrow an amount up to a maximum of Six Million Pesos (Php 6,000,000.00), which shall be based on the lowest of the following: The Member’s Actual Need, His Loan Entitlement Based On Capacity To Pay, The Loan-To-Appraisal Value Ratio.
Pag-IBIG Salary Loan vs SSS Salary Loan: What’s the Difference?
|Pag-IBIG Fund Multipurpose Salary Loan|
|Loan Eligibility||24 monthly contributions|
|Loan Amount||60% to 80% of your total accumulated value|
|Interest Rate Per Annum||10.75%|
|Fees||Late payment penalty: 0.5% of unpaid amount every month|
AGE: At least 18yrs old and a regular employee but not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further, that he is not more than seventy (70) years old at loan maturity; 4. Has the legal capacity to acquire and encumber real property; 5.