Guide on Pag-IBIG Cash Loan Application Loanable Amounts
PAG-IBIG CASH LOAN APPLICATION – Here is a guide on how much you may borrow under the Pag-IBIG Multi-Purpose Loan (MPL) offer to qualified members.
Many Filipinos are members of the Pag-IBIG Fund. Most members of the government agency which is primarily known for its housing loan offer are either employed or self-employed individuals. Meanwhile, there are also overseas Filipino workers (OFWs) who have applied for membership to the government agency.
Members of Pag-IBIG Fund who have accumulated savings may be eligible to apply for the loans offered by the government agency. One of these is the Pag-IBIG Multi-Purpose Loan (MPL) offer or the cash loan.
With regards to the loanable amounts under the Pag-IBIG Cash Loan application, it depends on the total Pag-IBIG savings of a member. According to the government agency, a member may borrow up to 80% of his or her savings. Thus, if you have P10,000 total savings, you can borrow up to P8,000.00.
Do you want to apply for the loan offer? There are documents that you must submit for Pag-IBIG cash loan application and the requirements vary depending if you are employed, self-employed, or an overseas Filipino workers (OFWs). Prepare a duly-accomplished and signed Multi-Purpose Loan Application Form, one (1) photocopy of valid ID acceptable to the Fund, and proof of income based on the following:
|If You Are Employed||If You Are Self-Employed||If You Are an OFW|
|“The ‘Certificate of Net Pay’ portion at the back of the application form must be accomplished by the employer or submit photocopy of one (1) month latest payslip duly authenticated by the company’s authorized signatory”||Any of the following:|
– original copy of Notarized Affidavit of Income
|Any of the following:|
Certificate of Employment and Compensation (CEC)
|original copy of Bank Statements or passbook for the last 12 months||Employment Contract|
|original copy of Certificate of Engagement issued by the owner of business||Income Tax Return (ITR) with Host Country or Government|
|photocopy of Income Tax Return (ITR), Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit/Business Permit|
|Certified True Copy of Transport Franchise issued by appropriate government agency (original)|
|original copy of Commission Vouchers reflecting the issuer’s name and contact details|
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