Pag-IBIG Multi-Purpose Loan – Faq’s

The Pag-IBIG Multi-Purpose Loan or MPL are an advance loan made to assist qualified Pag-IBIG investment with any instant need that is financial.

The Pag-IBIG MPL may be used for just about any of this following purposes:

• Health expenses;
• Minor do it yourself;
• Money for the business that is small
• Tuition charge as well as other education-related spending;
• Buy of furniture, devices or electronic devices;
• Re Payment of credit and utility card bills;
• Getaway and trips;
• Unique activities;
• Automobile fix; or
• Other requirements

You really must have the next to be eligible for the mortgage:

• At the very least twenty-four (24) month-to-month account discount underneath the Pag-IBIG average cost savings regimen;
• Active account, insurance firms a minumum of one (1) month-to-month account savings in the last six (6) months before the date of application for the loan;
• The account/s must not be in default; and if with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan
• Evidence of earnings.

Qualified customers can borrow as much as 80per cent of the total Pag-IBIG average cost savings, which comprise of the month-to-month efforts, their employerРІР‚в„ўs contributions, and accumulated dividends received.

Which means that the more you conserve in their Pag-IBIG average Savings, the bigger loan levels you might submit an application for through the MPL.

For those who have a superb Pag-IBIG Calamity Loan, the quantity you may possibly borrow will probably be the essential difference between the 80% of the total Pag-IBIG average discount therefore the outstanding stability of the Pag-IBIG Calamity Loan.

It is possible to make an application for a Pag-IBIG MPL through the options that are following

• On line, via Virtual Pag-IBIG by:
  1. Uploading your duly accomplished loan application type and demands*; or
  2. Doing the Pag-IBIG MPL application online type, for customers whoever companies are enrolled beneath the Virtual Pag-IBIG for companies**
• Over-the-counter, by publishing their duly accomplished application for the loan kind and specifications using your manager or actually, at the Pag-IBIG Fund branch closest you.

*available to users by having a Pag-IBIG commitment Card Plus or cashcards released by any one of Pag-IBIG FundРІР‚в„ўs partner banking institutions for such function.

** accessible to customers having a Pag-IBIG commitment Card Plus best

The MPL appear at a low interest of 10.5 percentage per year.

It’s well well worth to notice that the part that is significant of earnings derived by Pag-IBIG investment through the MPLРІР‚в„ўs interest are came back to their people by means of dividends.

The mortgage was payable within 36 months or 3 years and is sold with a deferred payment that is first. People might also choose to spend their loans in 2 ages or two years.

If you’re an used user, you might pay their loan amortizations via an income deduction arrangement together with your company. If you want to speed up or advance your repayments, your might do this via Virtual Pag-IBIG, at any Pag-IBIG investment branch in your area, or through some of our accredited collecting partnersРІР‚в„ў outlets or their online payment stations.

If you’re a self-employed person or an international Filipino employee (OFW), you might spend their loan amortizations via Virtual Pag-IBIG, at any Pag-IBIG investment branch in your area, or through some of our accredited collecting partnersРІР‚в„ў outlets or their online repayment networks.

You could restore their Pag-IBIG MPL right after paying a sum add up to at the very least six (6) month-to-month amortizations and upon satisfying the eligibility demands.

The outstanding stability of the current loan will be deducted through the loan profits of the latest loan.

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To learn most about the Pag-IBIG Multi-Purpose Loan, your might install Pag-IBIG Fund round No. 448, Modified directions on the Pag-IBIG Multi-Purpose Loan (MPL) regimen by pressing right here

The Pag-IBIG Fund Multi-Purpose Loan or MPL system try a money loan that qualified members may protected to help these with any immediate need that is financial.

Listed below are an examples that are few you need to use your MPL:

• Minor do it yourself
• Further money for a business that is small
• Tuition charge as well as other expenses that are education-related
• Buy of furniture, devices or gadgets that are electronic
• re Payment of credit and utility card bills
• Travel and vacation
• Unique occasions
• Vehicle Repair; or
• More Specifications

You should be a member that is actively contributing at minimum twenty-four (24) month-to-month account cost savings (MS) and adequate proof money to qualify. For you to qualify if you have an existing Pag-IBIG Fund Housing Loan, MPL and/or Calamity Loan, your payments must be updated.

You truly must be a earnestly adding user with at minimum twenty-four (24) monthly membership cost savings (MS) and adequate evidence of earnings to qualify. For those who have a preexisting Pag-IBIG Fund Housing Loan, MPL and/or Calamity Loan, your repayments should be up-to-date so that you can qualify.

The MPL appear at a lower rate of interest of 10.5 percentage per year. You’d be happy to realize that a part that is significant of earnings derived by Pag-IBIG investment through the loan system was gone back to their people in the shape of dividends.

The mortgage try payable within a couple of years and is sold with a deferred payment that is first. Formally-employed users shall spend their loan amortization through an income deduction arrangement making use of their manager. Self-employed people, international Filipino Workers (OFWs), and all sorts of more individual payors may their amortization at some of our Pag-IBIG investment branches.

You might restore their MPL right after paying an exact carbon copy of six (6) month-to-month amortizations and upon pleasing the skills stated earlier. The outstanding stability of the current loan will probably be deducted through the loan proceeds of your newer loan.

For details, be sure to relate to this system’s circular available on our Circulars web web Page.