Requirements for Pag-IBIG Monthly Savings Top-Up for Bigger Returns
PAG-IBIG MONTHLY SAVINGS – You can check here a guide on how to upgrade your monthly contributions to the Fund.
In the Philippines, one of the state entities that is operating and serving the Filipino people for decades now is the Pag-IBIG Fund. In fact, there are countless Filipinos not only within the country but as well as abroad who are members of the Fund.
The main advantages of being a member of the Fund is that you do not only get to grow your money but you also have access to different kinds of loans. These loan offers can be your safety not amid the unforeseen financial situations.
The Fund offers the Pag-IBIG Multi-Purpose Loan for short-term cash needs, the Calamity Loan that members may turn to if their place is struck by a natural disaster, and, its most popular loan offer, the Pag-IBIG Housing Loan. It can finance any of the following:
- residential property acquisition
- house construction
- home renovation
- home loan take-out
- combination of loan purposes.
With regards to the Pag-IBIG Regular Savings, the Fund is now offering a better option – you can upgrade your monthly savings for bigger amount that you can expect as well as loanable amounts.
How to upgrade your Pag-IBIG monthly savings for bigger returns? You need to submit the document required by the Fund. There are varying documentary requirements among the salaried and the non-salaried members of the Fund.
If you are employed, you need to prepare a duly-accomplished Request to Upgrade Monthly Savings Form and submit it to your employer. The HR department of the company usually processes the top-up of the employees’ contributions.
On the other side, if you are self-employed, on your next payment for your Pag-IBIG monthly savings, you need to state your desired amount for savings. You may remit your savings at any branch of the Pag-IBIG Fund or accredited collecting partners including the following:
- SM Business Service Centers
- SM Hypermarket
- Savemore
- Bayad Center and its authorized partners
- LANDBANK
- Metrobank
- ECPay (thru 7-Eleven stores and merchant partners)
- M Lhuillier
- CashPinas Moneygment App (Credit to Account, DragonPay, ECPay, PayPal and 7-Eleven stores)
- GCash (mobile payment)
The membership to the Fund is open for people with different sources of income. In fact, a membership to the Fund is mandated among the following:
- Employees in the private sector (permanent, temporary, or provisional status) up to 60 years old
- Government employees with GSIS coverage, regardless of appointment status
- Self-employed individuals up to 60 years old earning at least ₱1,000 a month
- Kasambahays (e.g., household helpers, cooks, drivers, gardeners, etc.) with a monthly salary of at least ₱1,000
- Land-based and sea-based OFWs
- Filipinos employed by foreign-based employers, whether deployed locally or abroad
- Uniformed personnel (Philippine National Police, Armed Forces of the Philippines, Bureau of Fire Protection, etc.)
- Expats up to 60 years old who are compulsorily covered by the SSS
The Pag-IBIG Fund has also opened its doors for voluntary memberships. The said category of memberships include the following:
- Non-working spouse of registered Pag-IBIG members
- Filipino employees of a foreign government or international organization
- Employees of employers with a waiver or suspension of coverage by the Pag-IBIG Fund
- Religious group leaders and members
- Pensioners, investors, and other individuals with passive income or allowances
- Public officials and employees without GSIS coverage (e.g., barangay officials, Sangguniang Kabataan members, etc.)
If you are not still a member of the Fund and wants to apply for a membership, there are some Pag-IBIG Membership requirements that you need to prepare and submit to the Fund.