Guide on Pag-IBIG Cash Loan Application for Qualified Members
PAG-IBIG CASH LOAN APPLICATION – Here are the two (2) options in applying for the multi-purpose cash loan offer of the Fund.
Have you heard about the cash loan offer of the Pag-IBIG Fund? The government entity offers the Multi-Purpose Loan that you may turn to for several 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
The Pag-IBIG Fund offers several loans including the Pag-IBIG Calamity Loan and the Pag-IBIG Housing Loan. Among its loan offers, the Multi-Purpose Loan is the most flexible. A qualified member can borrow up to an equivalent of 80% of his/her Pag-IBIG Regular Savings under the offer.
The loan is payable within three (3) years or up to 36 monthly installments. The government entity implements an interest of 10.5% annually.
Are you interested to push through with the Pag-IBIG Cash Loan application? There are two (2) options in applying for the Multi-Purpose offer. Here is a guide on how to apply for the cash loan offer:
Option 1 — Online via Virtual Pag-IBIG
- Log in to Virtual Pag-IBIG and upload your duly-accomplished Pag-IBIG Multi-Purpose Loan and your proof of income.
Option 1 — Over-the-Counter
- Prepare the requirements depending if you are employed, self-employed, or an overseas Filipino worker. Visit a branch of the Fund and submit your requirements for the Pag-IBIG cash loan application.
Members with an existing Pag-IBIG Multi-Purpose Loan to the Fund may renew their loan provided that the client has paid “an amount equal to at least six (6) monthly amortizations and upon satisfying the eligibility requirements”.
According to the Fund, the outstanding balance of the existing loan shall be deducted from the loan proceeds of the new loan. Aside from the loan offers, the Fund also has the Pag-IBIG MP2 Savings which is a 5-year savings facility program suited for eligible members who want to grow their savings.