Guide on Pag-IBIG Fund Cash Loan Offer for Qualified Members
PAG-IBIG FUND CASH LOAN – You can check here the details on how much you may borrow under the Pag-IBIG Fund Multi-Purpose Loan offer.
Are you one of the members of the Pag-IBIG Fund who are in need of some cash for multiple purposes? You may be qualified to apply for the multi-purpose cash loan offer of the Fund for the members.
The Pag-IBIG Fund is one of the biggest state entities in the country. Millions of Filipinos are members of the Fund. Its member populace includes locally-employed individuals, self-employed individuals, overseas Filipino workers (OFWs), and voluntary members.
The Fund is operating in the country for several decades already. It is most popular for the Pag-IBIG Housing Loan offer which can finance the acquisition of residential properties, house construction, home renovation, the refinancing of an existing loan, and a combination of the loan purposes under the offer.
Through the years, the Fund continuously grow and upgrade its offers. Another loan offer is the Pag-IBIG Fund cash loan. It is open for multiple purposes including the following:
- 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
How much you may borrow under the Pag-IBIG Fund Cash Loan offer? A qualified member may borrow up to 80% of his/her total Pag-IBIG Regular Savings which is inclusive of the member’s monthly contributions, the employer’s contributions, and the accumulated dividends earned.
Thus, if your total Pag-IBIG Regular Savings is Php 20,000, under the Pag-IBIG Fund Cash Loan, you may borrow up to Php 16,000. The higher your Pag-IBIG Regular Savings is, the higher loan amount you may apply for under the MPL.
With regards to the interest rate under the Pag-IBIG Fund Cash Loan offer, it comes as low as 10.5% per annum. The maximum loanable amount is 36 monthly installments or up to three (3) years. Meanwhile, the loan is also payable for 24 months.
The cash loan offer is open for both locally-employed and self-employed individuals as well as overseas Filipino workers. Prepare the documents and submit them to the government agency to apply for the loan offer: