Guide on Pag-IBIG Savings P400/month Total Upon Maturity
PAG-IBIG SAVINGS P400/MONTH – Here is a guide on how much a member will get after 20 years under this monthly contribution rate.
Millions of Filipinos are members of the Pag-IBIG Fund, an institution under the government. It has loan and benefit offers that are exclusive for its members — provided that the member-borrower is qualified for a specific offer. Members should post a monthly contribution to the Fund to keep their account updated.
With regards to the rate of the monthly contribution, it depends on the income of the member. The Fund requires an equivalent of 4% of the monthly salary as contribution from members who are earning below P10,000 a month — 2% from the member and 2% to be shouldered by the employer.
For members who are earning P10,000 per month and above, the monthly contribution rate is P400.00 — P200.00 from the employee and P200.00 from the employers. How much is your Pag-IBIG savings after 20 years if you post a P400.00 monthly contribution regularly?
According to the Fund, total accumulated Pag-IBIG savings of a member who post P400.00 monthly contribution is P96,000.00. The total dividends for it is P88,605.92. Thus, you total regular savings after 20 years is P184,605.92.
- Pag-IBIG Savings: P96,000.00
- Dividends: P88,605.92
- Total Regular Savings after 20 years: P184,605.92
Pag-IBIG Housing Loan
Countless Filipinos achieved dream house because of the Pag-IBIG Housing Loan offer. It is ready to finance several purposes including the purchase of a real estate property, a house construction, a home renovation, a home loan take-out, or even multiple purposes. It is open for the following:
- active member with least 24 months savings
- not more than 65 years old at the date of loan application
- not more than 70 years old at the date of loan maturity
- Legal capacity to acquire and encumber real property
- No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
You can check the full details of the Pag-IBIG Housing Loan offer.
Pag-IBIG Multi-Purpose Loan
The Fund also has a multi-purpose cash loan offer which is known as the Pag-IBIG Multi-Purpose Loan or MPL. Here are the qualifications under the offer:
- in active membership by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- has no Pag-IBIG Housing Loan, MPL and/or Calamity Loan in default
- reliable source of income
You can check the full details of the Pag-IBIG Multi-Purpose Loan offer.
Pag-IBIG Calamity Loan
In times of natural disasters, there is the Pag-IBIG Calamity Loan offer that qualified members may turn to. It was designed to help the members living in calamity stricken areas recover.
Pag-IBIG HEAL Loan
Even if you are paying for an existing Housing Loan with the Fund, you can still enjoy the pursuit of your other goals through the Home Equity Loan offer. It is open for members who have an existing Pag-IBIG Housing Loan account.
- an active member, or with at least one (1) monthly membership savings within the last six (6) months
- not more than sixty-five (65) years old at the date of application and not more than seventy (70) years old at loan maturity
- having the legal capacity to acquire and encumber real property, whenever applicable
- having an existing Pag-IBIG Housing Loan that has been approved or taken out for at least five (5) years as of date of application
- The existing housing loan/installment account/s must have been paid regularly and on time, within the last twelve (12) months immediately prior to the date of application. This applies whether the borrower is a principal borrower/buyer or co-borrower of the loan.
- have passed the satisfactory background/credit and employment/business check of the Pag-IBIG Fund
- have no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of application. If STL is in arrears, it must be updated first.
You can check the full details of the Pag-IBIG HEAL Loan offer.
Pag-IBIG HELP Loan
The Fund also want to help its members through its Health and Education loan programs. It is open for members who meet the following eligibility criteria:
- an active Pag-IBIG member with at least one (1) monthly contribution posted within the last six (6) months
- with at least 24 monthly membership savings under the Pag-IBIG Regular Savings
- avail the loan from Pag-IBIG HELPs partner schools and/or hospitals
You can check the full details of the Pag-IBIG HELPs offer.