Guide on the Pag-IBIG Cash Loan Requirements 2024 Member Must Submit To Apply
PAG-IBIG CASH LOAN REQUIREMENTS 2024 – Listed here are the documents needed in applying for the multi-purpose cash loan offer of the Pag-IBIG Fund.
One of the government entities with millions of members in the Philippines is the Pag-IBIG Fund. Its members are individuals coming from different fields such as locally-employed individuals, self-employed individuals, and overseas Filipino workers (OFWs).
Every month, members of the Pag-IBIG Fund submit a monthly contribution or savings to maintain an active and update account. It may qualify a member to the loans offered by the state-run institution.
Aside from the Pag-IBIG Housing Loan offer which the Fund is most popular of, the government agency also offers the Multi-Purpose loan offer or MPL. It is a cash loan offer crafted to help address the short-term financial needs of the members.
The multi-purpose cash loan offer of the Pag-IBIG Fund is open for members who have posted at least 24 monthly contributions or savings in their account. It can be used for any purpose including the following:
- Capital for a small business
- Medical expenses
- Purchase of furniture, appliances or electronic gadgets
- Minor home improvement
- Vacation and travel
- Tuition fee and other education-related expenses
- Car repair
- Payment of utility and credit card bills
- Special events
- Other needs
In applying for the loan offer. there are Pag-IBIG cash loan requirements that a member must prepare and submit to the Fund. Here are the general documents that a loan applicant must submit:
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID such as the following:
- passport
- Driver’s License
- National Bureau of Investigation (NBI) Clearance
- Professional Regulation Commission (PRC) ID
- Police Clearance
- Voter’s ID
- Postal ID
- Government Service Insurance System (GSIS) e-Card
- Senior Citizen Card
- Barangay Certification or Barangay IDs
- Social Security System (SSS) Card
- Overseas Filipino Worker ID
- Overseas Workers Welfare Administration (OWWA) ID
- Alien Certification of Registration/Immigrant Certificate of Registration
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- Seaman’s Book or Seafarer’s Identification and Record Book (SIRB)
- Department of Social Welfare and Development (DSWD) Certification
- Government Office and GOCC ID
- Integrated Bar of the Philippines ID
- Company ID
- Philippine Identification (PhilID) Card
There are also additional Pag-IBIG cash loan requirements depending if the member-borrower is employed, self-employed, or an overseas Filipino worker. If you are locally-employed, here are the additional documents needed for application:
- Certificate of Net Pay
- This portion of your MPL Application Form which is found at the back of the form must be accomplished by your employer; or
- photocopy of one (1) month latest payslip duly authenticated by an authorized signatory of the company
If you are self-employed, kindly submit the following documents together with the general requirements set by the Fund:
- photocopy of Income Tax Return (ITR) and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit or Business Permit
- original copy of bank statements or passbook for the last 12 months
- original copy of Commission Vouchers indicating the name and contact details of the issuer
- original copy of Certified True Copy of Transport Franchise
- original copy of the Notarized Affidavit of Income
- original copy of the Certificate of Engagement issued by the business owner
The Pag-IBIG Multi-Purpose Loan offer is also open for overseas Filipino workers (OFWs). Here are the additional Pag-IBIG cash loan requirements that OFW applicants must submit in applying for the loan:
- Employment Contract
- photocopy of the Employment Contract between the employee and employer or original copy of the POEA Standard Contract
- Certificate of Employment and Compensation (CEC)
- CEC written on the Employer; or
- CEC signed by employer supported by a photocopy of the ID and passport of the employer
- Original copy of Income Tax Return filed with Host Government or Country