PAG-IBIG SALARY LOAN: How To Borrow Cash Under Pag-IBIG Loan

Guide on How to Borrow Cash Under the Pag-IBIG Salary Loan Offer To Members

PAG-IBIG SALARY LOAN – Here is a simple guide on how to apply and borrow cash under the salary loan offer of Pag-IBIG Fund.

In the Philippines, many are members of Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno (Pag-IBIG) or Pag-IBIG Fund. It is a state-run corporation that seeks to provide the Filipinos with affordable shelter financing.

Some of the Pag-IBIG members have acquired comfortable homes by applying for a housing loan. Aside from it, a lot of people have also greatly benefited from their membership through the salary loan.

Members usually apply for the Pag-IBIG salary loan to fulfill their household needs or to make ends meet. Others borrow cash for certain personal purposes or achieving personal goals like buying appliances, renovating the house, paying for the school fees, etc.

For a member to be eligible to the salary loan, he or she must have contributed at least Php 4,800.00 to the government-owned corporation. The previous accounts should also be in good standing. Are you planning to apply for a salary loan of the said state-run corporation?

How much is the loanable amount? It will depend on you total contribution to the government agency. Here are the basis:

• For members who have contributed between 24 to 59 monthly contributions, up to 60% of the TAV can be borrowed. For example, your TAV is Php 25,000.00, you can borrow up to Php 15,000.00.

• For members who have contributed between 60 to 119 monthly contributions, you can borrow up to 70% of the TAV. For a TAV of Php 25,000.00, the loanable amount is up to Php 17,500.00.

• For members who have paid at least 120 monthly contributions, you can borrow up to 80% of your TAV. You may obtain up to Php 36,000.00 from a TAV of Php 45,000.00.

Applying for the Pag-IBIG salary loan is very simple. Here are the steps that you must take in the pursuit to borrow cash from the Pag-IBIG Fund:

1. Get a copy of the Multi-Purpose Loan Application Form from the nearest Pag-IBIG Fund office. You may also visit the official website of the government agency to start your application virtually – Pag-IBIG Fund.

2. Fill in the Pag-IBIG Multi-Purpose Loan Application Form and prepare all the needed requirements based on whether you are an employed or self-employed member of the corporation. For the list of requirements, you may visit – Pag-IBIG Cash Loan Requirements.

3. Go to the nearest branch of Pag-IBIG Fund with all the needed requirements. Make sure that your bring along with you valid IDs (Identification Card).

4. Have your requirements and all your documents checked by a staff of the Pag-IBIG Fund to find out your qualification with regards to the loan. You may be asked for other supporting documents depending on the result of checking and evaluation.

If there is no problem with the records and the requirements and you are qualified for a Pag-IBIG salary loan, you will be given a schedule on when you will be able to claim your check.

Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.

READ ALSO: Pag-IBIG Housing Loan – Can I Pay for 24 Months Savings To Qualify?