Pag-IBIG Multi-Purpose Loan Amount 2023 — A Guide for Members

Guide on the Pag-IBIG Multi-Purpose Loan Amount 2023 — How Much You May Borrow

PAG-IBIG MULTI-PURPOSE LOAN AMOUNT 2023 – Here is a guide for the Pag-IBIG Fund members on how much you may borrow under it.

Do you have an active and updated account with the Pag-IBIG Fund? There are loans that you can turn to as the government agency offers multiple loans to its members. One of them is the Multi-Purpose Loan, a cash loan offer.

Aside from the Pag-IBIG Housing Loan 2023 offer, the members of the government agency are offered the Pag-IBIG Multi-Purpose Loan 2023. Also called the MPL, it is a cash loan offer that a member may apply for for various purposes.

You may apply for the Multi-Purpose Loan offer of the Fund to finance any of the following purposes:

• capital for a small business
• medical expenses
• purchase of furniture, appliances or electronic gadgets
• minor home improvement
• vacation and travel
• tuition fee and other education-related expenses
• car repair
• payment of utility and credit card bills
• special events

With regards to the loanable amount under the Pag-IBIG Multi-Purpose Loan 2023, a member may borrow up to an equivalent of 80% of his/her total Pag-IBIG Regular Savings. For example, if you have posted P10,000, you may borrow up to P8,000.

The Pag-IBIG Multi-Purpose Loan loanable amount 2023 depends on the approval of the Fund. The government agency considers the actual need of the member, the contributions posted, and the member’s capacity to pay.

To qualify for the loan offer, the member-borrower must meet the following eligibility criteria:

• be a member of Pag-IBIG Fund
• have posted at least 24 monthly membership savings
• have posted at least one(1) monthly membership savings within the last six(6) months
• submit a proficient information on his or her source of income

To apply for the Pag-IBIG loan offer, you need to prepare the documentary requirements for Pag-IBIG Multi-Purpose Loan 2023. In case a representative will process the loan offer for you, here are the documents that must be prepared and submitted to the Fund:

• Authorization Letter
• Valid IDs of both parties (1 Photocopy)
• Pag-IBIG Multi-Purpose Loan Application Form (MPLAF, HQP-SLF-065) (1 Original)
• Proof of Income
  • For Formally-employed:
    • The “Certificate of Net Pay” portion at the back of application form must be accomplished by the employer or submit photocopy of one (1) month latest payslip duly authenticated by the company’s authorized signatory.
  • For Self-Employed:
    • ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit/Business Permit (1 Photocopy)
    • Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months) (1 Original)
    • Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittance, pension, etc.) (1 Original)
    • Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTRFB for other PUVs) (1 Original)
    • Certificate of Engagement issued by the owner of business (1 Original)
    • Notarized Affidavit of Income (HQP-SLF-136) (1 Original)
  • For Overseas Filipino Workers (OFW), any of the following:
    • Employment Contract
      • Employment Contract between employee and employer (1 Photocopy); or
      • POEA Standard Contract (1 Original)
    • Certificate of Employment and Compensation (CEC)
      • CEC written on the Employer/Company’s official letterhead (1 Original); or
      • CEC signed by employer (for household staff and similarly situated employees) (1 Original), supported by a photocopy of the employer’s ID and passport
  • Income Tax Return filed with Host Country/Government (1 Original)