Guide on Pag-IBIG Cash Loan 2024 — How To Apply for Offer
PAG-IBIG CASH LOAN 2024 – Here are the application process and the requirements in applying for the Pag-IBIG Multi-Purpose Loan.
What many don’t know is that one of the multi-purpose cash loan providers in the country is the Pag-IBIG Fund. Undeniably, it is mainly because the government institution is most popular for its Pag-IBIG Housing Loan that has helped countless Filipinos acquire a house.
With regards to the Multi-Purpose Loan offer of the Pag-IBIG Fund which is also called MPL, it was designed to help meet the short-term financial needs of members. Under it, the member has the option to repay the amount borrowed within two (2) years or 24 monthly installments up to three (3) years or 36 monthly installments.
With regards to the Pag-IBIG cash loan loanable amount for members, they may vary depending on the total savings posted by the borrowing member in his/her account. The loan term available remains despite of the amount borrowed under the offer.
There is an easy process in applying for the Pag-IBIG loan offer. Here are the steps you may follow to ensure a smooth application flow:
Step 1 — Who are qualified? Here are the eligibility criteria for application:
- 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
Step 2 — Prepare the requirements. You need to gather the documentary requirements for Pag-IBIG cash loan for application. Make sure that you have the original copies of the required documents.
Step 3 — Go to Pag-IBIG Fund. Submit your documents at a branch of the Fund nearest to you. Wait for an udpate regarding the status of your loan application,
Your loan application may be approved in as fast as two (2) working days since the filing of application. The interest under the Pag-IBIG cash loan offer is fixed.
