Guide on Pag-IBIG Cash Loan Loanable Amount
PAG-IBIG CASH LOAN – Here are some details regarding the loanable amount under this Pag-IBIG Fund loan offer.
In the Philippines, one of the biggest government agencies is Pag-IBIG Fund. Many Filipinos are members of the said agency. They contribute a certain amount of their salaries monthly as savings in their accounts to the agency.
What sets Pag-IBIG different from the state-run social insurance institutions in the country apart from some of its offers is its eligibility requirements for membership. It is open to both employed and self-employed individuals as well as overseas Filipino workers.
Accumulated savings in your Pag-IBIG account can make you eligible to apply for the loan offers of the government agency. One of the loans offered is the Multi-Purpose Loan or also called MPL. This Pag-IBIG Cash Loan is crafted to help address immediate financial needs of members.
How much you may borrow under this Pag-IBIG Cash Loan offer? According to the government agency, under the Multi-Purpose Loan (MPL), you may borrow up to 80% of your Pag-IBIG Regular Savings. For example, if your total savings is Php 10,000.00, you may borrow up to Php 8,000.00.
This Pag-IBIG loan offer is open for employed, self-employed, and overseas Filipino worker members of the government agency. The requirements may vary depending on the source of income of the member-borrower. To check on the list of documents that you must gather and submit to Pag-IBIG Fund in applying for the loan offer, you may visit – Requirements for Pag-IBIG Cash Loan – Here are the Documents You Must Submit.
Aside from the MPL, Pag-IBIG Fund also offers a loan that is crafted to finance home improvement pursuits of members. To check on the details of the offer, feel free to visit – Pag-IBIG Loan for Home Improvement: Here’s How To Apply & the Requirements.
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