Need money for an emergency? Want to start a business but are short on capital? Avail of Pag-IBIG Multi-Purpose Loan today!

To support its members’ immediate financial needs, the Pag-IBIG Fund offers a Multi-Purpose Loan (MPL) aside from its primary Housing Loan aid. A member can borrow up to 80 percent of their Pag-IBIG Regular Savings and be processed in as fast as two days. It comes at a low-interest rate of 10.05 percent per annum and is payable within 36 or 24 months with a deferred first payment.

MPL can be used for any of the following purposes: medical expenses; minor home improvement; capital for a small business; tuition fee and other education-related costs; purchase of furniture, appliances, or electronic gadgets; payment of utility and credit card bills; vacation and travel; special events; car repair; among many others.

Eligible members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, consisting of their monthly contributions, their employer’s contributions, and accumulated dividends earned. In other words, the more a member saves, the higher the loan amount they may apply for.

Those with outstanding Pag-IBIG loans, on the other hand, shall receive a difference between 80 percent of their total Pag-IBIG Regular Savings and the outstanding balance of your loan/s.

Pag-IBIG Calamity Loan Eligibility

A Pag-IBIG member can qualify for the calamity loan if:

• They have at least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings;
• Has an active membership by having at least one (1) monthly membership savings within the last six (6) months prior to the day of the application;
• For those with existing Pag-IBIG Housing Loan, Multi-Purpose Loan, and/or Calamity Loan, the acount/s must not be in default; and
• Proof of income must be provided

Pag-IBIG Calamity Loan Requirements

Member-Borrower’s Requirements

• Multi-Purpose Loan Application Form (MPLAF, HQP-SLF-065) (1 Original)
• Valid ID (1 Photocopy)
• Authorization Letter (ONLY for those filing through a representative)
• Proof of Income – Certificate of Net Pay for formally employed individual, accomplished by the employer or submit a photocopy of one (1) month’s latest payslip duly authenticated by the company’s authorized signatory
• Proof of Income for Self–Employed are any of the following:
  • ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported by DTI Registrant and Mayor’s Permit/Business Permit (1 Photocopy)
  • Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months) (1 Original)
  • Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittance, pension, etc.) (1 Original)
  • Certified True Copy of Transport Franchise issued by an appropriate government agency (LGU for tricycles, LTRFB for other PUVs) (1 Original)
  • Certificate of Engagement issued by the owner of the business (1 Original)
  • Notarized Affidavit of Income (HQP-SLF-136) (1 Original)
• Proof of Income for Overseas Filipino Workers (OFW) are any of the following:
  • Employment Contract (Employment Contract between employee and employer (1 Photocopy); POEA Standard Contract (1 Original)
  • Certificate of Employment and Compensation (CEC written on the Employer/Company’s official letterhead (1 Original); CEC signed by the employer (for household staff and similarly situated employees) (1 Original), supported by a photocopy of the employer’s ID and passport)
• Income Tax Return filed with Host Country/Government (1 Original)

Note: In all instances wherein photocopies are submitted, the original documents must be presented for authentication.

Also Read: What you need to know about Pag-IBIG Housing Loan Application

Post-application Requirements

For those loan proceeds released through Payroll Account* or Disbursement card**, the member-borrower must submit a photocopy of the Payroll Account* or Disbursement card**. Meanwhile, for applications through the employer, the photocopy of the Payroll Account* or Disbursement card** must be duly certified. For individual applications, the Payroll Account* or Disbursement card** must be presented for authentication.

* Payroll Accounts using the Land Bank of the Philippines (LBP) Accounts for Disbursement

** Land Bank of the Philippines (LBP), Development Bank of the Philippines (DBP), or United Coconut Planters Bank (UCPB) Cash Cards

How to Apply for Pag-IBIG Calamity Loan

A qualified member-borrower may apply via the following:

• Online, via Virtual Pag-IBIG
• Over-the-counter at the nearest Pag-IBIG branch

Via Virtual Pag-IBIG Step 1. Upload your duly accomplished Calamity Loan Application form and other requirements. Note: This is only available to members with a Pag-IBIG Loyalty Card Plus or cash cards issued by any of Pag-IBIG Fund’s partner banks for such purpose.

Also Read: How to create Virtual Pag-IBIG account: Step-by-step Guide

Via Over-the-counter Step 1. Submit your duly accomplished Calamity Loan Application form and other requirements through your employer or personally at any Pag-IBIG branch near you.

Step 2. Get and secure your Short-Term Loan Acknowledgement Receipt (HQP-SLF-121)

Step 3. Receive your loan proceeds on the day of the scheduled date.

MPL Payment Schedule

The MPL is payable within three years (36 months), with the initial payment due on the 3rd month following the loan release. However, the member-borrower may also choose to pay their loans in two years (24 months).

Formally employed members may pay their loan amortizations via salary deduction arrangements with their employer. Advance payments can also be made via Virtual Pag-IBIG, any Pag-IBIG branch office, or the fund agency’s accredited collecting partners’ outlet.

On the other hand, self-employed individual or Overseas Filipino Workers (OFWs) may pay their loan amortizations directly via Virtual Pag-IBI, any Pag-IBIG branch office, or the fund agency’s accredited collecting partners’ outlet.

Final Thoughts

Pag-IBIG Fund notes that eligible members may renew their MPL after paying an amount equal to at least six (6) monthly amortization and upon meeting the eligibility requirements. The outstanding balance of their existing loan shall then be deducted from the loan proceeds of the new loan. To know more, read Pag-IBIG Fund Circular No. 448 here.

For further assistance regarding your loan benefit claim, contact the Pag-IBIG Fund Hotline at 8-724-4244 (8-Pag-IBIG) or email them at contactus@pagibigfund.gov.ph. You may also complete and submit the Information Form here. 

Frequently Asked Questions (FAQs)

If you plan on applying for a Pag-IBIG Multi-Purpose loan, here is additional information to help you get started:

How soon can the Pag-IBIG multi-purpose loan be credited to the account?

A Multi-Purpose loan can be processed as fast as 2-3 days.

How can I know if my Pag-IBIG loan is approved?

You can verify the status of your loan by visiting the Virtual Pag-IBIG website and filling out the form for Loan Status Verification.

How much can I get from a Pag-IBIG multi-purpose loan?

Members can get up to 80% of their total Pag-IBIG Regular Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned. – WhatALife.ph

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Keep Reading: What you need to know about Pag-IBIG Regular Savings