Guide on Pag-IBIG Savings P1,000/month Total Upon Maturity
PAG-IBIG SAVINGS P1,000/MONTH – Here is a guide on how much a member will get after 20 years under this monthly contribution rate.
The Pag-IBIG Fund is one of the state entities with a multi-million member populace. Its membership is open not only for locally-employed individuals but as well as self-employed individuals, overseas Filipino workers, household helpers, and even voluntary members.
Members of the Pag-IBIG Fund must regularly post monthly contribution to keep their accounts updated and eligible for the loans offered by the state entity. It got varying rates for the Pag-IBIG savings which you can check below.
For members of the Fund who earn P10,000 and above, the monthly contribution is P400.00 — P200.00 from the member and P200.00 from the employer. In the case of those who are earning below P10,000, the contribution rate is based on 4% of the monthly income with half of it to be shouldered by the employer.
The Pag-IBIG savings matures after 20 years. If you have increased your monthly contribution to P1,000 per month, there is surely a bigger dividend for you and as well as total savings after 20 years.
- Pag-IBIG Savings: P240,000
- Dividends: P221,514.18
- Total Regular Savings after 20 years: P461,514.81
Pag-IBIG Housing Loan
Among the loan offers of the Pag-IBIG Fund, the most popular and accessed is the Housing Loan offer. A member may apply for it for the financing of a purchase of a real estate property, a house construction, a home renovation, a home loan take-out, or even multiple purposes. Here are the qualifications:
- active member with least 24 months savings
- not more than 65 years old at the date of loan application
- not more than 70 years old at the date of loan maturity
- Legal capacity to acquire and encumber real property
- No Pag-IBIG housing loan foreclosed, cancelled, bought back, or voluntarily surrendered
- If with existing Pag-IBIG Housing account or Short Term Loan (STL), payments must be updated
Are you interested to know more about the Pag-IBIG Housing Loan offer?
Pag-IBIG Multi-Purpose Loan
If you are in need of cash for many purposes, you may turn to the Pag-IBIG Multi-Purpose Loan offer or also called the MPL or cash loan. Here are the eligibility requirements for application:
- in active membership by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program
- has no Pag-IBIG Housing Loan, MPL and/or Calamity Loan in default
- reliable source of income
Are you interested to know more about the Pag-IBIG Multi-Purpose Loan offer?
Pag-IBIG Calamity Loan
The Fund also made sure that its members have something to turn to in times of calamities — the Pag-IBIG Calamity Loan offer. It can be the members’ safety net against unwanted but inevitable calamity situations.
Pag-IBIG HEAL Loan
The Pag-IBIG Fund also offers the Home Equity Loan or the Pag-IBIG HEAL for members who have an existing loan account but wants to pursue other goals like buying a car, etc. Here are the qualifications under the offer:
- an active member, or with at least one (1) monthly membership savings within the last six (6) months
- not more than sixty-five (65) years old at the date of application and not more than seventy (70) years old at loan maturity
- having the legal capacity to acquire and encumber real property, whenever applicable
- having an existing Pag-IBIG Housing Loan that has been approved or taken out for at least five (5) years as of date of application
- The existing housing loan/installment account/s must have been paid regularly and on time, within the last twelve (12) months immediately prior to the date of application. This applies whether the borrower is a principal borrower/buyer or co-borrower of the loan.
- have passed the satisfactory background/credit and employment/business check of the Pag-IBIG Fund
- have no outstanding Pag-IBIG Short-Term Loan (STL) in arrears at the time of application. If STL is in arrears, it must be updated first.
Are you interested to know more about the Pag-IBIG HEAL Loan offer?
Pag-IBIG HELP Loan
The Fund also has the Health and Education loan programs known as the Pag-IBIG HELPs. It aims to help address the health and education needs of the members who qualify to the following criteria:
- an active Pag-IBIG member with at least one (1) monthly contribution posted within the last six (6) months
- with at least 24 monthly membership savings under the Pag-IBIG Regular Savings
- avail the loan from Pag-IBIG HELPs partner schools and/or hospitals
Are you interested to know more about the Pag-IBIG HELPs offer?