Guide on Pag-IBIG Housing Loan Interest Rates 2024 based on Loan Term
PAG-IBIG HOUSING LOAN INTEREST RATE 2024 – You can check the details below for the interest implemented by the Fund under the loan offer.
Are you planning to apply for the Housing Loan offer of the Pag-IBIG Fund? With regards to housing loans, it is undeniably one of the most popular and it can serve several purposes.
Millions of Filipinos are members of the Pag-IBIG Fund. A member who has an updated account to the Fund may qualify to the Pag-IBIG loans that were crafted for different purposes — to help meet short-term financial needs, for the completion of a goal related to residential properties, and as assistance in times of natural disasters.
With regards to the Pag-IBIG Housing Loan offer, it is open to finance any of the following purposes:
- purchase of residential lot or adjoining residential lots with a maximum of 1,000 sq.m. plus cost of transfer
- purchase of residential house & lot, townhouse or condominium unit plus cost of transfer
- house construction
- home renovation
- refinancing of existing housing loan
- combined loan purposes
The Pag-IBIG Fund has set a few eligibility requirements in applying for the loan offer. To qualify, the member-borrower must meet the following eligibility criteria:
- active Pag-IBIG Fund member with least 24 months savings
- not more than 65 years old at the date of loan application and is not more than 70 years old at the date of loan maturity
- no Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- legal capacity to acquire and encumber real property
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
The Pag-IBIG has posted the maximum loanable amounts under the Housing Loan offer but the borrowing amount depends on certain factors like the actual need of each borrower. With regards to the Pag-IBIG Housing Loan interest rates, it depends on the fixing period chosen by the member.
The loan is payable for up to 30 years. Here is a guide on the Pag-IBIG Housing Loan interest rates based on the fixing period:
| 1-Year Fixing | 5.750% |
| 3-Year Fixing | 6.375% |
| 5-Year Fixing | 6.625% |
| 10-Year Fixing | 7.375% |
| 15-Year Fixing | 8.000% |
| 20-Year Fixing | 8.625% |
| 25-Year Fixing | 9.375% |
| 30-Year Fixing | 10.000% |
To apply for the Fund’s loan offer, it will be best to start with preparing the documentary requirements for the Pag-IBIG Housing Loan application after securing your eligibility to the loan offer. You can download the Pag-IBIG Housing Loan Application Form online for your convenience.