Guide on Pag-IBIG Cash Loan Amount Allowed for Borrowing
PAG-IBIG MULTI-PURPOSE LOAN AMOUNT 2025 – You can check here the loanable amounts under the Fund’s MPL offer for members.
In the Philippines, many locally-employed and self-employed individuals are members of the Pag-IBIG Fund. It is a state entity that provides loan offers that are packed with excellent features to help the Filipinos acquire a residential property in an affordable way, attend to their short-term needs, or recover from the impacts of a calamity.
The Fund is undeniably most popular for the Pag-IBIG Housing Loan offer. Meanwhile, next to it that many people access is the Pag-IBIG Multi-Purpose Loan or also called the MPL. It is designed to help the members meet their short-term financial needs.
The Multi-Purpose Loan offer of the Fund can attend to many purposes. A qualified member may apply for it for any of the following loan purposes:
- medical expenses;
- capital for a small business;
- minor home improvement;
- purchase of furniture, appliances or electronic gadgets;
- tuition fee and other education-related expenses;
- car repair; or
- payment of utility and credit card bills;
- vacation and travel;
- special events;
- other needs
The Pag-IBIG Multi-Purpose Loan or MPL is open for members who have active memberships with the Fund or members who have at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application. Furthermore, the member-borrower must have at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program.
The Fund is open even for members who have existing Pag-IBIG Housing Loan, MPL, and/or Calamity Loan offers. However, the existing account must not be in default. The member-borrower must also have a reliable source of income.
With regards to the Pag-IBIG Multi-Purpose Loan loanable amount, there is actually no minimum borrowing amount but the Fund has provided an estimate of the maximum amount that a member may borrower. According to the Fund, a qualified member may borrow up to an equivalent of 80% of his/her total Pag-IBIG Regular Savings.
The Pag-IBIG Regular Savings is composed of the following:
- member’s monthly contributions
- member’s employer’s contributions
- accumulated dividends earned by the above-mentioned contributions
Just an example, if you have a total Pag-IBIG Regula Savings of Php 20,000, the Pag-IBIG Multi-Purpose Loan amount allowed for borrowing is up to Php 16,000 which is 80% of the total contributions posted by the member.
According to the Fund, if the members has an existing Pag-IBIG Calamity Loan, the balance of the loan will be deducted from the Pag-IBIG Multi-Purpose Loan amount allowed for borrowing. The loan is also open for renewal for member “after paying an amount equal to at least six (6) monthly amortizations and upon satisfying the eligibility requirements”.
Before applying for the MPL, it is important to check on the Pag-IBIG Multi-Purpose Loan interest rate. The loan is payable for up to 36 monthly installments.