Guide on Pag-IBIG Contribution Rate 2023 Based on Monthly Income
PAG-IBIG CONTRIBUTION RATE 2023 – If your monthly salary is between P1,500 to P4,499, here’s a guide on the monthly premium or savings rate.
Millions of Filipinos are Pag-IBIG Fund members. This government agency was the turn to of many of its members in acquiring a residential property in a very affordable way. The state institution’s Housing Loan offer also covers purposes such as the financing of a house construction, a home renovation, or a home loan take-out.
Apart from the Housing Loan, the government agency extends several other loan options to qualified members. These encompass the Pag-IBIG cash loan, the Multi-Purpose Loan (MPL), and the Pag-IBIG Calamity Loan.
To qualify for these loans, members need to maintain up-to-date accounts, which entails making regular monthly payments of the designated Pag-IBIG contribution rate for 2023.
The Pag-IBIG monthly contribution rates are factored by the help of the member’s income source and their earnings in a month. In the case of employed members, the total monthly contributions are shared between the member and their respective employers.
If you are earning between P1,500 to P4,499, the total monthly contribution rate is equivalent to 4% of your salary in a month. Out of the said percentage, 2% will come from the employee and 2% from the employer.
For example, if your monthly salary is P2,000, your Pag-IBIG monthly contribution 2023 is P80 (2000 x 0.04). P40 or 2% of it will come from you and P40 or 2% is from the employer.
Do you want to check on the full list of loans offered by the government agency? Kindly visit – Pag-IBIG Loan Offers: Full List of Loans You May Apply For.
The Pag-IBIG Fund also has an investment program. Feel free to visit – Pag-IBIG MP2 Savings: Its Features, Qualifications, Application Process.