Pag-IBIG offers Multi Purpose Loan with low interest rate to their members

Pag-IBIG offers Multi Purpose Loan with low interest rate to their members

The Multi-Purpose Loan (MPL) is a cash loan under Pag-IBIG’s short-term loan program that aims to provide financial assistance to qualified members for House Repair, Minor Home Improvement, Home Enhancement, Tuition/ Educational Expenses, health and Wellness, Livelihood and Other purposes.

To qualify for a Pag-IBIG Salary Loan, Pag-IBIG Fund member borrower must have at least 24 monthly mandatory savings (MS), has 5 MS for the last 6 months prior to date of loan application and if with an existing Housing Loan and/or MPL and/or Calamity Loan, the account/s must not be in default prior to loan application.


The borrower’s loan value shall be a percentage of his Total Accumulated Value (TAV), members with 24 – 59 months contribution can borrow up to 60% of Total Accumulated Value (TAV), 60 – 119 months up to 70% of TAV, and those with at least 120 months can borrow up to 80% of TAV.

However, an eligible borrower’s loan shall be limited to an amount for which statutory deductions, monthly repayment of principal and interest, and other obligations will render the borrower’s net take home pay to fall below the minimum requirement as prescribed by the General Appropriations Act (GAA) or company policy, whichever is applicable.

The loan shall bear a nominal interest rate of 10.75% per annum, paid equally for the duration of the loan, shall be repaid over a maximum period of twenty-four (24) months, with a grace period of two (2) months. Payments must be remitted to Pag-IBIG on or before the 15th day of each month starting on the 3rd month following the date on the DV/Check.

The loan shall be paid in equal monthly payments, through salary deduction for employed members; or over the counter; via- auto-debit arrangements with banks or other modes the Fund may adopt, for self-employed/individual payors.

A qualified borrower may renew his/her MPL after making 6 monthly amortizations. The proceeds of the new loan shall be net of the outstanding balance of the existing loan.

Formally-employed borrower must submit duly accomplished Multi-Purpose Loan Application Form (MPLAF), photocopy of at least two (2) valid IDs, proof of income, Certificate of Monthly Net Income portion at the back of the application form must be accomplished by the employer or submit photocopy of latest payslip duly authenticated by the company’s authorized representative.

For Self-employed or Individual-payors, they need to submit the Photocopy of any of the following: Business Mayor’s Permit, Commission Vouchers and Other valid proof of income.

For employed member- borrowers, they may file their applications through their Fund Coordinators or directly at any Pag-IBIG office nationwide. For individual payors, they must submit their applications and requirements to the branch office nearest them.

The MPL shall be released through any of the following modes, depending on the borrower’s preference: Disbursement Card, e.g. LBP Cash Card or Pag-IBIG Citi Prepaid Card, Landbank’s Payroll Credit Systems Validation (PACSVAL), Check or other similar modes of payment.

The MPL Application Form can be downloaded from the Pag-IBIG website at or it can be secured from any Pag-IBIG office nationwide.

For inquiries, Pag-IBIG Fund’s hotline is open 24/7 – (02) 724-4244. E-mails can be sent to