Guide on Pag-IBIG Salary Loan Amount 2025 Allowed for Borrowing
PAG-IBIG SALARY LOAN AMOUNT 2025 – You can check here the borrowing amounts under the Multi-Purpose Loan offer of the Pag-IBIG Fund.
There are countless Filipinos not only across the nation but as well as abroad who are members of the Pag-IBIG Fund. Many of these members have widened financial options because of a good account standing.
The Pag-IBIG Fund has several loan offers for its members. In fact, these loans have provided aid to countless Filipinos in different situations. Aside from the Pag-IBIG Calamity Loan, another loan offer of the government entity is the Pag-IBIG Multi-Purpose Loan.
The Pag-IBIG Multi-Purpose Loan or also called MPL is a flexible cash loan offer of the Fund. It is also called the salary loan offer by some people. It was designed to help meet the short-term needs of eligible members.
As mentioned, there are several purposes that are eligible under the Multi-Purpose Loan offer of the Fund. In fact, you can meet several purposes under this single loan offer.
- Medical expenses;
- Minor home improvement;
- Capital for a small business;
- Tuition fee and other education-related expenses;
- Purchase of furniture, appliances or electronic gadgets;
- Payment of utility and credit card bills;
- Vacation and travel;
- Special events;
- Car repair; or
- Other needs
The Pag-IBIG MPL is open for members of the Fund with an active membership by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application. He/She must have at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program.
Furthermore, the member-borrower should have no Pag-IBIG Housing Loan, MPL and/or Calamity Loan in default and must have a reliable source of income. How much is the Pag-IBIG salary loan amount allowed for borrowing?
According to the Fund, the Pag-IBIG salary loan amount allowed for borrowing is equivalent to up to 80% of the total Pag-IBIG Regular Savings of the member-borrower. The Pag-IBIG Regular Savings is composed of a member’s monthly contributions, their employer’s contributions, and accumulated dividends earned.
For example, if the member who intends to borrow under the MPL has a total Pag-IBIG Regular Savings of Php 10,000, the Pag-IBIG salary loan amount allowed for borrowing is up to Php 8,000.
According to the Fund, if the member has an existing Calamity Loan account, the balance of the said loan will be deducted from the proceeds of the Multi-Purpose Loan. Meanwhile, a member may apply for Pag-IBIG Fund cash loan renewal “after paying an amount equal to at least six (6) monthly amortizations and upon satisfying the eligibility requirements”.
Here is a guide on the documents required in applying for the Multi-Purpose Loan offer of the Pag-IBIG Fund: