Guide on the Pag-IBIG Multi-Purpose Loan Requirements 2023 in Applying for the Offer
PAG-IBIG MULTI-PURPOSE LOAN REQUIREMENTS 2023 – Here are the documents required by the Fund from members in applying for the loan.
In the Philippines, one of the government agencies with millions of members coming from different walks of life is the Pag-IBIG Fund. It has several branches across the nation that serve several loans and services to its eligible members.
Aside from the Pag-IBIG Housing Loan 2023, the Pag-IBIG Fund also offers the Multi-Purpose Loan. Also called as MPL, it is a cash loan offer that eligible members may apply for to finance several purposes. Unlike the other offers of the government agency, this is the flexible type of loan.
As mentioned earlier, the Pag-IBIG Multi-Purpose Loan can serve several purposes. Here are some of the purposes that the loan offer can finance:
- capital for a small business
- minor home improvement
- medical expenses
- car repair
- purchase of furniture, appliances or electronic gadgets
- tuition fee and other education-related expenses
- vacation and travel
- special events
- payment of utility and credit card bills
The Pag-IBIG Multi-Purpose Loan 2023 eligibility requirements require the member to have posted at least 24 monthly savings to qualify for the loan offer. Also, the member must have posted at least one (1) monthly contribution within the recent six months.
If the member-borrower has an existing loan account, it must be updated. There are also Pag-IBIG Multi-Purpose Loan requirements 2023, documentary, for application. Here are the documents that you must prepare:
General Requirements:
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID such as the following:
- passport
- Driver’s License
- National Bureau of Investigation (NBI) Clearance
- Professional Regulation Commission (PRC) ID
- Police Clearance
- Voter’s ID
- Postal ID
- Government Service Insurance System (GSIS) e-Card
- Senior Citizen Card
- Barangay Certification or Barangay IDs
- Social Security System (SSS) Card
- Overseas Filipino Worker ID
- Overseas Workers Welfare Administration (OWWA) ID
- Alien Certification of Registration/Immigrant Certificate of Registration
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- Seaman’s Book or Seafarer’s Identification and Record Book (SIRB)
- Department of Social Welfare and Development (DSWD) Certification
- Government Office and GOCC ID
- Integrated Bar of the Philippines ID
- Company ID
- Philippine Identification (PhilID) Card
Specific Requirements:
If employed, prepare the following documents:
- Certificate of Net Pay
- This portion of your MPL Application Form which is found at the back of the form must be accomplished by your employer; or
- photocopy of one (1) month latest payslip duly authenticated by an authorized signatory of the company
If self-employed, prepare the following documents:
- photocopy of Income Tax Return (ITR) and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit or Business Permit
- original copy of bank statements or passbook for the last 12 months
- original copy of Commission Vouchers indicating the name and contact details of the issuer
- original copy of Certified True Copy of Transport Franchise
- original copy of the Notarized Affidavit of Income
- original copy of the Certificate of Engagement issued by the business owner
If you are an overseas Filipino worker (OFW), prepare the following documents:
- Employment Contract
- photocopy of the Employment Contract between the employee and employer or original copy of the POEA Standard Contract
- Certificate of Employment and Compensation (CEC)
- CEC written on the Employer; or
- CEC signed by employer supported by a photocopy of the ID and passport of the employer
- Original copy of Income Tax Return filed with Host Government or Country
In case a representative will process the loan application for you, there is a different set of requirements for Pag-IBIG Cash Loan if representative will process the Application.
The Pag-IBIG Fund will notify you regarding the status of your loan application. Wait for its update either through a text message, a call, or an email.
