How to Apply for Pag-IBIG Fund Multi-Purpose Loan

It’s always good to know that in times of financial need or emergency, your membership with government agencies such as the PagIBIG Fund, can help you through their Multi-Purpose Loan program.

You may avail of the Multi-Purpose Loan for any of the following purposes:

  • Tuition or Educational Expenses
  • Livelihood or additional capital for business
  • Health and Wellness
  • Minor home renovation or improvement
  • Vacation or Travel
  • Special Events
  • Car Repair
  • Purchase of appliances, furniture, or gadgets
  • Payment of Utility or Credit Card Bills

What are the Eligibility Requirements for Pag-IBIG Multi-Purpose Loan Application? 

1. Pag-IBIG member who has made at least 24 monthly savings (MS) and has total savings equivalent to P4,800.

2. Pag-IBIG member must have made at least one monthly savings within the last 6 months, as of the month prior to the date of loan application.

3. If you have existing Pag-IBIG Housing Loan, your account must not be in default as of the date of your application.

4. If you have an existing Multi-Purpose Loan or Calamity Loan with Pag-IBIG Fund, your account must not be in default as of the date of your application.

5. You must also submit sufficient proof of income.

How much can you loan from Pag-IBIG Fund? 

Your loan amount is equivalent to 80% of your Total Accumulated Value (TAV).

If you have an existing Calamity Loan, the loanable amount will be the difference between 80% of your TAV and the outstanding balance of your Calamity Loan.

For example, my TAV is P20,000. My loanable amount is 80% of P20,000 which is P16,000. If I have an existing Calamity Loan Balance, let’s say, P3,000, my loanable amount would be P16,000 minus P3,000 and this is equal P13,000.

Therefore, I may be able to loan P13,000 from Pag-IBIG Fund Multi-Purpose Loan provided I qualify and meet all the requirements.

How will the Loan be released?

Once your application for Pag-IBIG Multi-Purpose Loan has been approved, you may choose from any of the following modes of loan release:

  • Loan to be credited to your disbursement card
  • Loan to be credited to your bank account through LANDBANK’s Payroll Credit Systems Validation (LBP’s PACSVAL)
  • Check payable to your name
  • Other acceptable modes of payment

Loan Interest Rate and Loan Term

The Multi-Purpose loan will be charged based on the prevailing guidelines of Pag-IBIG Fund for this program. It will be discussed to you upon application or you may inquire directly at any Pag-IBIG branch.

The loan shall be paid over a maximum period of 24 months, with a grace period of 2 months.

How to pay your Multi-Purpose Loan? 

If you are employed, your loan payment will be deducted from your salary.

If you’re a voluntary member or individual payor, you can pay your loan amortization over-the-counter or click here for other payment options. You may also inquire directly at any Pag-IBIG branch for an updated list of payment options for Multi-Purpose Loan.

How to Renew your Pag-IBIG Multi-Purpose Loan? 

You may renew your Multi-Purpose Loan after you have paid 6 monthly loan amortizations and upon satisfying the guidelines and requirements of the program.

The proceeds of the new loan will be applied to your outstanding Multi-Purpose Loan obligation and the net proceeds will be released to you.

How to File or Apply for Pag-IBIG Multi-Purpose Loan? 

1. Download a copy of the Multi-Purpose Loan Application Form (MPLAF) online or get it from any Pag-IBIG Fund Branch.

2. Fill out the application form with all the required information.

3. If you choose to have your loan proceeds released through your Payroll Account/Disbursement Card, attach a photocopy of your payroll account or disbursement card or deposit slip (for a newly-opened account).

4. Submit your Multi-Purpose Loan Application form with all the required documents to any Pag-IBIG Fund Branch for your loan to be processed.

Requirements for Multi-Purpose Loan:

  • Multi-Purpose Loan Application Form
  • Photocopy of at least 2 valid IDs
  • Proof of Income
    • Employed – Certificate of Employment with Monthly Income, Recent Pay Slips
    • Self-Employed or Individual Payors – Photocopy of Business Permit, Commissio Vouchers, other valid proof of income

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