Pag-IBIG Introduces Quicker, More Generous Monthly Payouts

Pag-IBIG Introduces Quicker, More Generous Monthly Payouts

Cracking Open the Doors for More: Pag-IBIG Fund's Multi-Purpose Loan Updates

Get ready, Pag-IBIG Fund members! Lending a hand has taken on a whole new meaning following the revamp of the Multi-Purpose Loan (MPL), as announced by Malacanang on May 6, 2025.

Claire Castro, Undersecretary at the Presidential Communications Office and Palace Press Officer, shared that these updates aim to cater to the demands of the Pag-Ibig Fund community, streamlining the MPL application process and increasing the loan amount you can potentially receive.

"You no longer have to wait — Mabuhay Pag-Ibig members! We're responding to your ongoing needs — made our MPL process easier and handed you the chance for larger loans," revealed Castro.

Here's a lowdown on the highlights of the enhanced MPL program:

Better Eligibility

• Voting Age: Now, members with just 12 months of Pag-IBIG contributions can apply for an MPL, a significant reduction from the previous 24-month requirement. This boosts access to loans for new members, providing them with immediate financial assistance.

More Cash for Your Pocket

• Increased Loan Amount: Members can now borrow up to 90% of their total Pag-Ibig regular savings, an upgrade from the previous 80%. The size of the loans we can grant depends directly on your savings accumulation, so those who save more will access larger loan amounts.

Simplified Application Process

• Improved Application Process: Although specific changes to the application process were not detailed, the reduced contribution requirement makes it easier for new members to qualify.

Use Your Loan For More

• Versatile Loan Usage: The MPL can be utilized for a range of purposes, such as starting a small business, paying school fees, covering medical expenses, home improvements, or acquiring essentials like furniture.

Flexible Repayment Options

• New Repayment Option: A one-year repayment term has been added, alongside the existing two- and three-year choices.
• Continued Affordability: The loan remains financially feasible, boasting a monthly interest rate approximating 1.45% to 1.4583%.

Stay tuned, as the enhanced terms and conditions become available to members starting May 16, 2025. The goal is to provide financial aid to around 3.6 million members, with projected cash loan releases reaching approximately P95.3 billion in 2025.

1. Pag-IBIG Fund members with only 12 months of contributions can now apply for a Multi-Purpose Loan (MPL), making it easier for new members to access immediate financial assistance.
2. The Multi-Purpose Loan (MPL) can now be utilized for a variety of purposes, such as starting a small business, paying school fees, covering medical expenses, home improvements, or acquiring essentials like furniture.
3. The enhanced Multi-Purpose Loan (MPL) program allows members to borrow up to 90% of their total Pag-Ibig regular savings, an increase from the previous 80%.
4. The application process for the Multi-Purpose Loan (MPL) has been simplified, making it easier for more Pag-Ibig Fund members to qualify.
5. The Multi-Purpose Loan (MPL) now offers a one-year repayment term, in addition to the existing two- and three-year choices, while retaining an affordable monthly interest rate of approximately 1.45% to 1.4583%.

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