Details about the Pag-IBIG HELPs Interest Rate 2024 for Members
PAG-IBIG HELPs INTEREST RATE 2024 – You can check here the interest rate implemented by the Pag-IBIG Fund on its Health and Education Loan programs.
Millions of Filipinos are in a constant pursuit of maintaining an active membership to the Pag-IBIG Fund. While some people may not like a slice from their monthly salary for the Pag-IBIG contribution, there is a huge advantage that awaits the members.
Members of the Pag-IBIG Fund who maintain an active and updated account by posting Pag-IBIG monthly contribution. An updated membership may qualify a member to the different loans offered by the Pag-IBIG Fund for its members.
Nowadays, the Fund does not only have housing, multi-purpose, and calamity loan offers. It also has the Pag-IBIG Health and Education Loan programs or the Pag-IBIG HELPs. The loan offers are open for both locally-employed and self-employed members of the state entity as well as overseas Filipino worker (OFW) members of the Fund.
Under this loan offer, you may borrow up to an equivalent of 80% of your total Regular Pag-IBIG Savings. The amount borrowed will be subject to the Pag-IBIG HELPs interest rate of 10.5% per annum.
According to the Fund, aside from the affordable Pag-IBIG HELPs interest rate, there are no processing fees thus, you can receive the full amount of your loan proceeds without any deductions.
Furthermore, you can get a part of your Pag-IBIG HELPs interest rate back in the form of dividends and returns in the Pag-IBIG Regular Savings and MP2 Savings. The loan is payable in 6, 12, 24, or 36 months.
The loan under the Pag-IBIG HELPs is renewable. It can renewed after paying an amount that equal to at least four (4) monthly payments if your chosen loan term is 6 months. For the other loan terms, the loan is renewable after six (6) monthly payments.
Are you interested to apply for the loan offer? There are varying requirements depending if you are locally-employed, self-employed, or an OFW. Here’s a guide: