PAG-IBIG MULTI-PURPOSE LOAN – You can check this detailed guide in applying for the cash loan offer of the Pag-IBIG Fund.
Millions of Filipinos are members of the Pag-IBIG Fund, one of the giant government agencies in the country. Many of these Pag]-IBIG members are locally-employed individuals who are qualified for the cash loan offer of the government agency. It was designed to help address the short-term financial needs of the qualified members.
Pag-IBIG Cash Loan for Locally Employed Members — A Complete Guide
Details about the Pag-IBIG Cash Loan for Locally Employed Members
PAG-IBIG CASH LOAN FOR LOCALLY EMPLOYED – Here is a complete guide on the Multi-Purpose Loan offer of the Pag-IBIG Fund for employed members.
The locally employed members of the Pag-IBIG Fund who have posted at least 24 monthly savings in their account may be eligible to apply for the Pag-IBIG Multi-Purpose Cash Loan offer of the government institution. It is also known as MPL.
The MPL is a cash loan offer that was designed to help the members in their short-term financial needs. Under this loan offer, the amount you borrowed is payable within three (3) years or 36 monthly installments.
The loanable amounts under this Pag-IBIG offer may vary but the government institution has provided the maximum amount that you may borrow.
How to Apply for the Pag-IBIG Cash Loan for Locally Employed Members
Step 1 – Check the qualifications. Here are the eligibility requirements in applying for the loan offer:
- At least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program;
- Active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application;
- If with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default; and
- Proof of income.
Step 2 – Prepare the requirements. For locally employed members of the government institution, prepare the following for submission:
- Multi-Purpose Loan Application Form (MPLAF, HQP-SLF-065) (1 Original)
- Valid ID acceptable to the Fund (1 Photocopy)
- proof of income
- 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.
In case a representative will file the loan application for you, there is a different set of documentary requirements in applying for this Pag-IBIG Cash Loan that must be prepared and submitted to the Fund.
Step 3 – Go to Pag-IBIG Fund and submit the accomplished Multi-Purpose Loan Application Form and all the required supporting documents.
Step 4 – Get STL Acknowledgement Receipt (HQP-SLF-121).
Step 5 – On scheduled date, get loan proceeds.
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