Check Here the Pag-IBIG MP2 P500 Savings Table To See How It Works
PAG-IBIG MP2 P500 SAVINGS – You can check here a guide on how much your money can grow under the 5-year savings facility.
Millions of Filipinos are members ofthe Pag-IBIG Fund. It is one of the longest-serving state entities in the Philippines. The individuals who are working in the government and the private sector are mandated to be members of the Fund.
The Pag-IBIG Fund is most popular for its Housing Loan offer which can finance the acquisition of residential properties and house construction. Meanwhile, aside from the loan offer, there are several Pag-IBIG loans that members with qualified accounts can apply for.
Currently, aside from the loans, there is also a savings facility that Pag-IBIG Fund members may turn to — the Pag-IBIG MP2 Savings. Under this, a member can grow his/her money through dividend rates that are bigger than the rates for Pag-IBIG regular savings. The Pag-IBIG MP2 Savings dividends rates are taking an upward trend through the years.
Who are qualified to apply for the MP2 Savings? Here are the qualifications set under the savings facility of the Fund:
- active Pag-IBIG Fund members
- Former Pag-IBIG Fund members (pensioners and retirees) with other sources of monthly income, regardless of age, and with at least 24 monthly savings prior to retirement
- Natural Born Filipinos, who reacquired their Filipino Citizenship pursuant to RA 9225 or the Citizenship Retention and Reacquisition Act of 2003, with at least 24 monthly savings prior to permanent migration to another country
With regards to how much you may save under this savings facility program, the minimum amount is only P500. Here is a guide on how much your money can grow under the Pag-IBIG MP2 P500 Savings based on 7.5% dividend rate:
Annual Dividend Payout
| Annual Dividend Payout | |||||
| Month Covered | Monthly Savings (MS) | Accumulated MS per year | Cumulative Savings | Annual Dividend Payout | Total Accumulated Value TAV) |
| Jan-Dec 2020 | 500.00 | 6,000.00 | 6,000.00 | 243.75 | 6,000.00 |
| Jan-Dec 2021 | 500.00 | 6,000.00 | 12,000.00 | 693.75 | 12,000.00 |
| Jan-Dec 2022 | 500.00 | 6,000.00 | 18,000.00 | 1,143.75 | 18,000.00 |
| Jan-Dec 2023 | 500.00 | 6,000.00 | 24,000.00 | 1,593.75 | 24,000.00 |
| Jan-Dec 2024 | 500.00 | 6,000.00 | 30,000.00 | 2,043.75 | 30,000.00 |
| TOTAL | – | 30,000.00 | – | 5,718.75 | 30,000.00 |
Compounded Savings
| Compounded Savings | |||||
| Month Covered | Monthly Savings (MS) | Accumulated MS per year | Cumulative Savings | Dividend Amount | Total Accumulated Value TAV) |
| Jan-Dec 2020 | 500.00 | 6,000.00 | 6,000.00 | 243.75 | 6,243.75 |
| Jan-Dec 2021 | 500.00 | 6,000.00 | 12,243.75 | 712.03 | 12,955.78 |
| Jan-Dec 2022 | 500.00 | 6,000.00 | 18,955.78 | 1,215.43 | 20,171.21 |
| Jan-Dec 2023 | 500.00 | 6,000.00 | 26,171.21 | 1,756.59 | 27,927.81 |
| Jan-Dec 2024 | 500.00 | 6,000.00 | 33,927.81 | 2,338.34 | 36,266.14 |
| TOTAL | – | 30,000.00 | – | 6,266.14 | 36,266.14 |
With regards to the possibility of changing your dividend payout mode prior to the maturity of your Pag-IBIG MP2 Savings, according to the Fund, it is not possible. Meanwhile, you may open another MP2 Savings account where you can pick a different dividend payout mode.
You can withdraw your dividends or how much your money has grown through different options. Here are the choices:
- Upon full withdrawal of your MP2 Savings after its 5-year maturity period with your MP2 Savings Dividends compounded annually;
- Through annual pay-out with your MP2 Savings Dividends credited to your savings or checking account enrolled in any of Pag-IBIG Fund’s accredited banks.
- For members who opt for an annual dividend payout but have no Philippine bank account, such as in the case of overseas members, their MP2 Savings Dividends shall be released via check.
There are easy steps on how to open a Pag-IBIG MP2 Savings Account. There are also minimal requirements set for members.
Are you wondering if there are cases wherein withdrawing the savings is allowed prior to the 5-year term’s maturity? Yes, there are cases wherein the Pag-IBIG MP2 Savings can be withdrawn.
On claiming your divided payout, you need to accomplish the Application for Provident Benefits (APB) Form. You can process it through any of the following:
- via the Virtual Pag-IBIG
- via over-the-counter
In case the savings was not claimed after the 5th year or the maturity of the savings, your money will stop earning dividends under the rates set under the MP2 Savings. Meanwhile, it will continue to earn dividends based n the dividend rate of the Pag-IBIG Regular Savings for the next 2 years. It is only after which that your savings will totally stop earning dividends.