Guide on the Requirements for Pag-IBIG Cash Loan 2024 Applic ation Process
REQUIREMENTS FOR PAG-IBIG CASH LOAN 2024 – On the list here are the documents that the Pag-IBIG Fund requires in applying for its multi-purpose loan.
Are you a Pag-IBIG Fund member who is currently in need of some money to be used for several purposes? You may turn to the Multi-Purpose cash loan offer of the Fund for members who have posted at least 36 monthly contributions in their accounts.
The Pag-IBIG Multi-Purpose Loan, also called MPL and one of the three (3) main Pag-IBIG loans, was designed to help meet the short-term financial needs of members. To qualify for the offer, here are the eligibility requirements for the Pag-IBIG cash loan application that the member must meet:
- member must have at least twenty-four (24) monthly membership savings under his/her Pag-IBIG Regular Savings program
- in active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application
- has a source of income
- if with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default
Under the loan offer, you may use the loan proceeds for your car repair, for travel, to fund an event, to expand your business, to make minor home repairs, etc. It is open not only for locally-employed and self-employed individuals but as well as overseas Filipino worker-members of the government institution.
What are the documentary requirements for the Pag-IBIG cash loan application? There are general requirements that must be submitted such as the following:
- duly-accomplished and signed Pag-IBIG Multi-Purpose Loan Application Form
- photocopy of one (1) valid ID such as the following:
- passport
- Driver’s License
- National Bureau of Investigation (NBI) Clearance
- Professional Regulation Commission (PRC) ID
- Police Clearance
- Voter’s ID
- Postal ID
- Government Service Insurance System (GSIS) e-Card
- Senior Citizen Card
- Barangay Certification or Barangay IDs
- Social Security System (SSS) Card
- Overseas Filipino Worker ID
- Overseas Workers Welfare Administration (OWWA) ID
- Alien Certification of Registration/Immigrant Certificate of Registration
- Certification from the National Council for the Welfare of Disabled Persons (NCWDP)
- Seaman’s Book or Seafarer’s Identification and Record Book (SIRB)
- Department of Social Welfare and Development (DSWD) Certification
- Government Office and GOCC ID
- Integrated Bar of the Philippines ID
- Company ID
- Philippine Identification (PhilID) Card
There are also specific additional requirements based on the nature of employment or source of income of the member-borrower. Here are the additional requirements for Pag-IBIG cash loan application depending if the member-borrower is locally-employed, self-employed, or an OFW:
For Locally-Employed Members:
- Certificate of Net Pay
- This portion of your MPL Application Form which is found at the back of the form must be accomplished by your employer; or
- photocopy of one (1) month latest payslip duly authenticated by an authorized signatory of the company
For Self-Employed Members:
- photocopy of Income Tax Return (ITR) and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit or Business Permit
- original copy of bank statements or passbook for the last 12 months
- original copy of Commission Vouchers indicating the name and contact details of the issuer
- original copy of Certified True Copy of Transport Franchise
- original copy of the Notarized Affidavit of Income
- original copy of the Certificate of Engagement issued by the business owner
For Overseas Filipino Workers (OFWs):
- Employment Contract
- photocopy of the Employment Contract between the employee and employer or original copy of the POEA Standard Contract
- Certificate of Employment and Compensation (CEC)
- CEC written on the Employer; or
- CEC signed by employer supported by a photocopy of the ID and passport of the employer
- Original copy of Income Tax Return filed with Host Government or Country
