Guide on Increasing Pag-IBIG Cash Loan Loanable Amount
PAG-IBIG CASH LOAN – Here is a guide on how to increase your loanable amount under the Pag-IBIG Fund Multi-Purpose Loan (MPL).
There are millions of Filipinos who are members of the different government institutions in the Philippines. One of these state-run agencies is the Pag-IBIG Fund or the Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industriya at Gobyerno.
Every month, members of the Pag-IBIG Fund submit a certain amount to the government agency as savings. In return, an updated and active account with accumulated savings can make a member eligible to apply for its loan offers.
The Pag-IBIG cash loan is the Multi-Purpose Loan offer or also called MPL. Under it, you may borrow up to 80% of your total accumulated savings, your employer’s share in your contributions, and the dividends that your money ha earned.
Is there a way to increase your loanable amount under the Pag-IBIG cash loan? Yes. To do it, you can increase your monthly contributions so your total savings will be high as it will be the basis of your loanable amount. To apply for the loan offer, here are the documents you must comply:
| For employed applicants: | For self-employed applicants: | For OFW applicants: |
| – a duly-accomplished and signed Multi-Purpose Loan Application Form – one (1) photocopy of valid ID acceptable to the Fund – “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” | – a duly-accomplished and signed Multi-Purpose Loan Application Form – one (1) photocopy of valid ID acceptable to the Fund – any of the following proof of income: original copy of Notarized Affidavit of Income; original copy of Bank Statements or passbook for the last 12 months; original copy of Certificate of Engagement issued by the owner of business; Certified True Copy of Transport Franchise issued by appropriate government agency (original); 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; or original copy of Commission Vouchers reflecting the issuer’s name and contact details | – a duly-accomplished and signed Multi-Purpose Loan Application Form – one (1) photocopy of valid ID acceptable to the Fund – any of the following proof of income: Employment Contract; Certificate of Employment and Compensation (CEC); or Income Tax Return (ITR) with Host Country or Government |
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You may also visit – Requirement for Pag-IBIG Calamity Loan: List of Documents You Need to Submit