Pag-IBIG Monthly Contribution 2024 — A Complete Guide for Members

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Details about the Pag-IBIG Monthly Contribution 2024 for Members

PAG-IBIG MONTHLY CONTRIBUTION 2024 – You can check here the rates of the Pag-IBIG member premiums set for this year.

One of the state-run entities in the Philippines is the Pag-IBIG Fund — one of the biggest, in fact. It has millions of members composed not only of individuals living inside the country but as well as those who are working abroad.

Pag-IBIG Fund
Photo Credit: iMoney

To maintain an updated account to the Fund, a member must regularly post a monthly premium. The rate for the premium changes depending on what is implemented by the Fund. Thus, it is important to check the rates from time to time to ensure that you maintain an updated account.

Pag-IBIG Monthly Contribution 2024
Photo Credit: Inquirer

It was in 1978 when the Pag-IBIG Fund was founded in the pursuit of providing Filipinos with a means to acquire residential properties in an affordable way. Thus, the Pag-IBIG Housing Loan is the biggest contributor in the prominence of the Fund.

The Housing Loan and the other loan offers of the Fund usually have requirements when it comes to the number of monthly contributions posted. Thus, every start of the year, it is important to check the monthly contribution rate.

The Pag-IBIG monthly contribution 2024 rates differ among the locally-employed individuals, self-employed individuals, overseas Filipino worker (OFW), kasambahay or household helper, non-working spouse, and voluntary members.

If you want to check the Pag-IBIG monthly contribution 2024 set by the Fund under a specific category, you may check the guide below:

The Pag-IBIG Fund offers three (3) major loans to the members — Housing Loan, Multi-Purpose Loan, and Calamity Loan.

Pag-IBIG Housing Loan

The Housing Loan is the main offer of the Fund in the pursuit of helping Filipinos who want to acquire residential properties. The loanable amounts under the Pag-IBIG Housing Loan vary depending on the actual need as well as the capacity of the borrower. Here are the eligibility requirements for application to the loan offer:

  • 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

Pag-IBIG Multi-Purpose Loan

The Fund also offers a flexible multi-purpose cash loan to the qualified members. The said Pag-IBIG cash loan can help meet multiple short-term financial needs. The loanable amounts under the Pag-IBIG cash loan is dependent on the total savings of the member. Here are the qualifications for application:

  • has posted at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
  • with active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
  • if with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default
  • has a source of income

Pag-IBIG Calamity Loan

The Pag-IBIG Fund also offers a Calamity Loan for members living in areas left by a natural disaster under a State of Calamity. The Pag-IBIG Calamity Loan loanable amount may also vary but here are the qualifications for eligibility to the loan offer:

  • a minimum of twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings
  • 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
  • has proof of income
  • If with an existing Pag-IBIG Housing Loan, Multi-Purpose Loan and/or Calamity Loan, the account/s must not be in default

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