Guide on Pag-IBIG Cash Loan Interest Rate Under Its Multi-Purpose Loan
PAG-IBIG CASH LOAN INTEREST 2023 – You can check the guide below for the interest rate under the Pag-IBIG Fund loan offer.
Millions of Filipinos are Pag-IBIG Fund members. The government agency has several loan offers for its members — employed, self-employed, and overseas Filipino workers (OFWs). One of these loan offers is the Pag-IBIG Multi-Purpose Loan or also called the MPL.
The Pag-IBIG Fund Multi-Purpose Loan is a multi-purpose cash loan offer that members may apply for to fund a car repair, make a huge purchase, meet the utility bill payments, etc. It continues to be the turn-to of members in times of need for cash for various purposes.
The Multi-Purpose Loan offer of the Pag-IBIG Fund is not only limited to locally-employed and self-employed members of the government agency. Fund members who are overseas Filipino workers (OFW) may also apply for the loan offer.
There are both eligibility and documentary requirements for application to the loan offer. To qualify for the MPL, the member-borrow must meet the following qualifications:
- 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
The minimum and maximum loanable amounts under the Pag-IBIG Cash Loan offer depends on the assessment of the government agency about the capacity of the borrower to pay. The Pag-IBIG Cash Loan interest 2023 is implemented on an annual basis.
Pag-IBIG Cash Loan Interest Rate 2023 – 10.75% per annum
To apply for the loan offer, you need to submit the documentary requirements for the Pag-IBIG Cash Loan 2023 application. The documents required by the Pag-IBIG Fund for application vary depending if you are locally employed, self-employed, or an OFW.
