Steps for Pag-IBIG Cash Loan 2023 Application Process
PAG-IBIG CASH LOAN 2023 – You can check the guide below on how to apply for the offer and the requirements in applying.
In times of financial crisis, the Pag-IBIG Fund members has a loan offer that they can turn to — the Multi-Purpose Loan. It is also called the MPL or the cash loan offer of the government agency.
The Pag-IBIG Multi-Purpose Loan offer is the most flexible loan offer of the government agency in terms of the allowed uses for the amount borrowed. Under the loan offer, you may borrow up to an equivalent of 80% of the total contributions you have posted to the Fund.
The Pag-IBIG Fund cash loan offer is open for locally-employed and self-employed individuals as well as overseas Filipino workers (OFWs). It is a non-collateral loan offer meaning you do not need to present a property as collateral for the loan.
With regards to the Pag-IBIG Cash Loan 2023 interest rate, it is implemented on an annual basis until the loan is fully paid by the borrower. The loan is payable within three years or 36 monthly installments.
There is an easy process on how to apply for the Pag-IBIG Cash Loan 2023 offer. You may follow these steps below for the application:
Step 1 — Check the qualifications in applying for the Cash Loan offer.
As mentioned earlier, the loan offer is open for both locally-employed and self-employed individuals as well as overseas Filipino workers. To qualify for the offer, the borrower must meet the following eligibility requirements:
- be a member of Pag-IBIG Fund
- have posted at least 24 monthly membership savings
- have posted at least one(1) monthly membership savings within the last six(6) months
- submit a proficient information on his or her source of income
Step 2 — Gather the documentary requirements for Pag-IBIG Cash Loan 2023 application. Make sure your ID is valid as obtaining an ID may take as much as a few weeks to months.
Step 3 — Visit a branch of the Pag-IBIG Fund nearest to you. Submit the documents required for application for the Pag-IBIG Cash Loan 2023. The staff of the government agency will check the completeness and accuracy of the documents submitted. All applications are subject to the approval of the Fund.
