Details about the Pag-IBIG Cash Loan Interest Rate 2024 Implemented by Government Agency
PAG-IBIG CASH LOAN INTEREST RATE 2024 – Here is a guide for the Pag-IBIG Fund members on the interest implemented under its multi-purpose cash loan offer.
Millions of Pinoys composed of locally-employed individuals, self-employed individuals, and overseas Filipino workers (OFWs) are members of the Pag-IBIG Fund. Thus, they have access to several loans offered by the government office.
Aside from the Pag-IBIG Calamity Loan that the members can turn to in times of natural disasters, also one of the Pag-IBIG loans is the Multi-Purpose Loan, a cash loan offer that can serve several purposes.
A Pag-IBIG Fund member may apply for the cash loan offer to fund any of the following purposes:
- Medical expenses;
- Minor home improvement;
- Capital for a small business;
- Tuition fee and other education-related expenses;
- Purchase of furniture, appliances or electronic gadgets;
- Payment of utility and credit card bills;
- Vacation and travel;
- Special events;
- Car repair; or
- Other needs
Are you wondering how much a member may borrow under the cash loan offer? The Pag-IBIG cash loan loanable amounts depend on the regular savings of the member-borrower but the Fund has generously posted the maximum limit of how much a member may borrow under the offer.
On the Pag-IBIG cash loan interest rate, it is at 10.5% per annum. The loan is payable for up to 36 monthly installments.
The Pag-IBIG cash loan interest rate applies until the loan is fully-paid. The advantage is that a part of the income of the Fund from the interest of loans is returned to the members as their dividends.
Who may apply for the Pag-IBIG cash loan offer? Here are the eligibility requirements set by the government agency:
- has posted at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- with active membership, by having 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 a source of income
Are you interested to apply for the loan offer? Prepare the original copies of all the requirements for the Pag-IBIG cash loan application.
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