Details about the Pag-IBIG Salary Loan Interest Rate per Annum
PAG-IBIG SALARY LOAN INTEREST RATE – You can check the guide below for the interest implemented by the Fund under its Multi-Purpose Loan.
In the Philippines, one of the government agencies with a multi-million member populace is the Pag-IBIG Fund. Most of its members are locally-employed individuals in the government and in the private sector as a membership is mandated by many employment fields.
To maintain an updated account to the Fund, the members remit a monthly contribution. It depends on the chosen rate of a member. An updated account may qualify him/her to the loans offered by the government agency which includes the Pag-IBIG Multi-Purpose Loan.
The Pag-IBIG Multi-Purpose Loan is also called the MPL, the cash loan, or the salary loan offer. It aims to help the members in addressing their short-term needs. Here are the qualifications set under the loan offer:
- 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
The Pag-IBIG Fund posted the maximum loanable amounts under its salary cash loan offer. It also did the same with the Pag-IBIG Salary Loan interest rate which is implemented on an annual basis.
According to the government institution, the Pag-IBIG Salary Loan interest rate is as low as 10.5% per annum. Another good thing about the offer is that a significant portion of the interest to the loan returns to the member in the form of dividends.
In applying for the loan offer, there are requirements for Pag-IBIG Salary Cash Loan application that must be submitted. The Fund requires the presentation of the original copies of all its required documents.
hello magloloan sana Ako xa pag ibig…