Good news for Pag-IBIG Fund members! The Pag-IBIG Fund has made some exciting changes to its Multi-Purpose Loan (MPL) program. Now, members can borrow more money and access loans faster! Here’s what you need to know:
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Easier Eligibility: Before, members had to wait 2 years before they could borrow. Now, after just 12 months of contributing to the Pag-IBIG Fund, members can apply for a loan! This makes it quicker for newer members to get the help they need.
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Bigger Loan Amounts: Members can now borrow up to 90% of their savings with Pag-IBIG, which is 10% more than the old limit of 80%. This means you can get more money when you need it!
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More Loan Options: Pag-IBIG has also updated other loan programs, like the Health and Education Loan Program (HELPS) and the Calamity Loan, so more members can borrow bigger amounts. Plus, you can apply for a loan even if you already have one under the old guidelines!
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Flexible Repayment: Pag-IBIG now offers 3 different repayment terms: 1 year, 2 years, and 3 years. This gives you more options to repay the loan in a way that fits your financial situation.
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Affordable Loan Rates: The loan interest rate remains low at only 1.4583% each month, which means the loan is still affordable!
The changes are happening starting May 16, so if you’re a Pag-IBIG member, make sure to check out the new benefits! Pag-IBIG Fund aims to help even more members with cash loans in 2025, aiming to release P95.3 billion in loans to about 3.6 million members.
Whether you need money for a small business, school fees, medical bills, or home improvements, these changes will make it easier for you to reach your financial goals!
