Steps for Pag-IBIG Multi-Purpose Loan 2023 Application Process
PAG-IBIG MULTI-PURPOSE LOAN 2023 – Here is a step-by-step guide on how to apply for the cash loan offer and the requirements for application.
If you are a Pag-IBIG Fund member and you are in need of cash to be used for multiple purposes, you may turn to the Multi-Purpose Loan offer. It is called MPL or cash loan.
The Multi-Purpose Loan offer of the Pag-IBIG Fund is open for application for several purposes. A member may apply for the offer to finance any of the following purposes as well:
- tuition fee and other education-related expenses
- capital for a small business
- car repair
- minor home improvement
- special events
- medical expenses
- purchase of furniture, appliances or electronic gadgets
- vacation and travel
- payment of utility and credit card bills
On the loanable amount under the Pag-IBIG Multi-Purpose Loan offer, the amounts may vary on a case-to-case basis. The government agency considers the total savings posted by a member to his/her account.
The interest rate under the Pag-IBIG Multi-Purpose Loan offer remains active until the loan is fully paid. Under the offer, the loan can be repaid for up to 36 monthly contributions.
With regards to applying for the Pag-IBIG Housing Loan 2023 offer, there is a simple process. Here are the steps that you may follow:
Step 1 – Check the Eligibility Requirements
The Pag-IBIG Fund has set qualifications for aspiring borrowers under the loan offer. To qualify, the member-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 Requirements
The government agency has set a list of the Pag-IBIG Multi-Purpose Loan 2023 requirements for application. In case someone will process the loan application in your behalf, there is a different set of documents that must be prepared. Here are the requirements in case a representative will file the loan application for you:
- Authorization Letter
- Valid IDs of both parties (1 Photocopy)
- Pag-IBIG Multi-Purpose Loan Application Form (MPLAF, HQP-SLF-065) (1 Original)
- Proof of Income
- If employed:
- The “Certificate of Net Pay” portion at the back of application form must be accomplished by the employer or submit photocopy of one (1) month latest payslip duly authenticated by the company’s authorized signatory.
- If self-employed:
- ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit/Business Permit (1 Photocopy)
- Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months) (1 Original)
- Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittance, pension, etc.) (1 Original)
- Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTRFB for other PUVs) (1 Original)
- Certificate of Engagement issued by the owner of business (1 Original)
- Notarized Affidavit of Income (HQP-SLF-136) (1 Original)
- If OFW, submit any of the following:
- Employment Contract
- Employment Contract between employee and employer (1 Photocopy); or
- POEA Standard Contract (1 Original)
- Certificate of Employment and Compensation (CEC)
- CEC written on the Employer/Company’s official letterhead (1 Original); or
- CEC signed by employer (for household staff and similarly situated employees) (1 Original), supported by a photocopy of the employer’s ID and passport
- Income Tax Return filed with Host Country/Government (1 Original)
- Employment Contract
- If employed:
Step 3 – Go to Pag-IBIG Fund
Visit a branch of the Pag-IBIG Fund nearest to you and submit the documents required by the government agency for the loan application. Wait for an update from the government agency regarding the status of your loan application.
