Guide on the Pag-IBIG MP2 Savings for those Who Plan To Save
PAG-IBIG MP2 SAVINGS – You can check the comprehensive guide below on how to save under this program offered by the Pag-IBIG Fund.
One of the most popular government agencies in the Philippines is the Pag-IBIG Fund. Millions of Filipinos are members of the state-run agency that is mainly popular for helping countless Pinoy families obtain residential properties in an affordable scheme.
Pag-IBIG offers several types of loans including the calamity loan crafted to aid members in times of natural disasters. It also offers the Pag-IBIG Multi-Purpose Loan offer or the MPL.
Aside from loans, the government agency also has a savings programs for those who want to grow their money. Have you heard about the Pag-IBIG MP2 Savings?
The Pag-IBIG MP2 Savings program is perfect for those who want their money to grow while keeping it under a five-year maturity savings facility.
With a minimum initial deposit of P500.00, you can begin saving through this program. The dividends you earn are not subject to tax deductions, and you have the flexibility to withdraw them annually or after five years once your savings account matures. This opportunity is open to both current and former members of the government agency, and it comes with a government guarantee.
How can I apply for MP2 Savings? You can start the account opening procedure through Virtual Pag-IBIG. It is permissible to have multiple accounts, and you also have the choice to make a single lump sum payment covering the entire five-year period.
There is no specific limit on the amount you can invest, but if your one-time savings surpass P500,000.00, you will be required to provide a personal or Manager’s Check for the remittance.
You may also read – Pag-IBIG Housing Loan: Here’s How Much You May Borrow under it