Guide on Pag-IBIG Multi-Purpose Loan Application for Members
PAG-IBIG MULTI-PURPOSE LOAN 2025 – Here is a guide in applying for the MPL offer of the Pag-IBIG Fund including the requirements.
Nowadays, there is really a huge advantage in maintaining active accounts to the government agencies that provide loans and benefits. It is an assurance that you have something to turn to in times of need whether it is in building a house, meeting a medical emergency, or simply needing some cash.
In the Philippines, one of the biggest government entities is the Pag-IBIG Fund. Millions of Filipinos are members of the Fun. Undeniably, its most prominent offer is the Pag-IBIG Housing Loan. Meanwhile, what some members of the state entity may not be aware of is that the Fund also has a cash loan offer, the Pag-IBIG Multi-Purpose Loan.
Like what its name suggests, the Pag-IBIG Multi-Purpose loan is ready to serve several purposes under a single loan. It is a flexible loan offer with regards to the purposes that it can finance which you may check below.
The Pag-IBIG Multi-Purpose Loan which is also called the MPL or the cash loan was designed to finance 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
With regards to the amount that is loanable under the Pag-IBIG Multi-Purpose Loan, it varies depending on the total contributions that a member-borrower has posted in his/her Pag-IBIG Regular Savings account. The loan is payable for up to 36 monthly installments or within three (3) years.
What is the interest rate under the Pag-IBIG Multi-Purpose Loan? The Fund boasts its loan offer with one of the lowest interest rates in the market. Also, its interest rate is implemented on a diminishing principal balance, thus, it won’t hurt your pocket as you repay the loan.
The MPL is open for both salaried and non-salaried individuals. With regards to the salaried members of the Fund, both locally-employed individuals and overseas Filipino workers who are Pag-IBIG members may apply for the loan.
How to apply for the Pag-IBIG Multi-Purpose Loan?
There are actually two (2) options in applying for the Pag-IBIG MPL. It can be done over-the-counter at a branch of the Fund nearest to you or online. Before choosing a loan application process. it is best to check first the documentary requirements that you must prepare:
Here are the options in applying for the cash loan offer of the Pag-IBIG Fund:
Option 1 — Over-the-Counter
- Prepare the requirements for the loan application 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.
Option 2 — 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.
You may renew your Multi-Purpose Loan after paying at least six (6) monthly amortizations of your existing MPL account. You may also be interested to check on the Pag-IBIG MP2 Savings.