Pag-IBIG Fund
released P15.82 billion
in cash loans in the first
four months of the year,
an increase of 5% from
the P15.10 billion released
during the same period
last year, agency officials
announced Wednesday
(07 June).
The amount of
Multi-Purpose Loans disbursed by the agency
helped 728,653 members
with their financial needs.
“We at Pag-IBIG
Fund exert all efforts in
providing our members
with assistance on their
financial needs. We are
happy to note that through
our Pag-IBIG Multi-Purpose Loan, we were able
to aid more than 700 thousand Filipino workers gain
added funds to tend to
their needs. All our efforts
are in line with the call of
President Ferdinand Marcos, Jr. to provide the best
service to the Filipino people,” said Secretary Jose
Rizalino L. Acuzar, who
leads the Department of
Human Settlements and
Urban Development (DHSUD) and the 11-member
Pag-IBIG Fund Board of
Trustees.
Pag-IBIG Fund’s
Multi-Purpose Loan or
MPL is the agency’s affordable and easily accessible cash loan. Under the Pag-IBIG MPL,
qualified members can
borrow up to 80 percent
of their total Pag-IBIG
Regular Savings, which
consists of their monthly
contributions, their employer’s contributions, and
accumulated dividends
earned. The proceeds can
be used to pay for tuition
fees, medical expenses,
minor home improvement,
a family trip, or even serve
as capital for small businesses. The loan is payable in 24 or 36 monthly
installments, with the first
payment deferred for two
months. The Pag-IBIG
MPL comes at a low interest rate of 10.5 percent
per year. In the past years,
the agency has returned
more than 90 percent of its
income to its members in
the form of dividends.
Pag-IBIG Fund
Chief Executive Officer
Marilene C. Acosta, meanwhile, noted that the agency now provides members
with numerous ways to
conveniently apply for a
Pag-IBIG MPL through its
more than 200 branches,
its online facility Virtual
Pag-IBIG found in its website, and the Virtual PagIBIG mobile app.
“Each year, over
2.5 million members rely
on the Pag-IBIG MPL for
their immediate financial
needs. More than being
a reliable source for cash,
our MPL is now more accessible to members. In
addition to applying for a
loan by submitting their
applications through their
employers or at a PagIBIG branch, our members
may now also apply for a
Pag-IBIG MPL wherever
they are, online, with the
Virtual Pag-IBIG. This
makes the Pag-IBIG MPL
more reliable and more
accessible than ever,”
Acosta said.
In total, the
Pag-IBIG Fund released
P16.44 billion in short term
loans benefitting 766,258
members in January to
April. This includes the
amount released under
the Pag-IBIG MPL and the
P.62 billion in Pag-IBIG
Calamity Loans it released
to aid 37,605 members.
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