Guide on MP2 Savings Offered for Members To Grow their Money
MP2 SAVINGS – Here are some details about this Pag-IBIG Fund savings facility that aims to help the members grow their money safely.
In the Philippines, one of the biggest government agencies is the Pag-IBIG Fund. Millions of Filipinos composed of individuals who are locally employed, self-employed, overseas Filipino workers (OFWs), and unemployed are members of this state agency.
Every month, the Pag-IBIG Fund members submit a monthly contribution or savings to the government agency. Members who have updated and active accounts may qualify to the offers of the state intitutions which includes loans that address dire financial needs — like the Pag-IBIG Calamity Loan.
Among its loan offers, the government agency is undeniably most popular for its Pag-IBIG Housing Loan offer. It has helped countless Filipinos achieve their own residential properties in affordable repayment schemes as it extend its loan term to up to 30 years.
Through the years, the Pag-IBIG Fund has continuously expanded its offer. Now, it also offers the MP2 Savings that fits members who want to grow their money while safe-keeping it.
Under the MP2 Savings, Pag-IBIG Fund members may get an annual dividend based on their total savings in a year or get the total dividend after five (5) years. The savings facility implements a 5-year maturity for the savings of members. It is open for:
- Natural Born Filipinos
- Filipinos who
- reacquired their Filipino Citizenship pursuant to RA 9225 or the Citizenship Retention and Reacquisition Act of 2003
- have at least 24 monthly savings prior to permanent migration to another country.
- Former Pag-IBIG Fund members (pensioners and retirees)
- with other sources of monthly income, regardless of age
- at least 24 monthly savings prior to retirement.
The least amount that you can save under the MP2 Savings is only P500. To start growing your money, you can avail the offer via the Virtual Pag-IBIG.