Guide on the Requirements for Pag-IBIG Salary Cash Loan Application Process
REQUIREMENTS FOR PAG-IBIG SALARY CASH LOAN – Here are the documents needed to apply for the Multi-Purpose cash loan offer of Pag-IBIG Fund.
Are you one of the millions of Pag-IBIG Fund members across the Philippines? It is one of the biggest state institutions in the country and it does not only have a multi-million member populace but as well as a long list of loans and services that its members may avail.
The Pag-IBIG Fund members come from different walks of life. Many of the members are locally-employed individuals as an active membership to the government agency is mandated in the government employment as well as by most companies and businesses in the private sector. The agency offers different loans including the Pag-IBIG Housing Loan and the Multi-Purpose Loan offer.
One of the offers of the Fund is the Pag-IBIG Salary Cash Loan or officially the Multi-Purpose Loan. It is open to finance a car repair, business expansion, home improvement, purchase, payment of utility bills, etc.
For qualification to the offer, here are the eligibility requirements for Pag-IBIG Salary Cash Loan application:
- has a minimum of twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- in active membership with at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- If with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default
- has proof of income
There are also documentary requirements for Pag-IBIG Salary Cash Loan application. Here are the general documents that must be submitted in applying for the loan offer regardless if you are employed, self-employed, or an overseas Filipino worker (OFW):
- 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
The other requirements for Pag-IBIG Salary Cash Loan application depends if you are employed, self-employed, or an OFW. Here are the other documents required in applying for the Pag-IBIG loan offer:
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