Pag-IBIG short-term loan eligibility now at least 12months of savings

 

Pag-IBIG members can now avail of a short-term loan after their first 12 months of savings in their Pag-IBIG savings account. According to a report from the CBD, Marilene Acosta, the chief executive officer of the Pag-IBIG Fund, announced this during the 2024 Stakeholders’ Accomplishment Report (StAR) for Visayas on March 21, 2025.

Mrs. Acosta explained that the adjustment in loan eligibility aims to provide members with early access to Pag-IBIG’s loan services, such as the Calamity Loan, Multi-Purpose Loan (MPL), and the newly introduced Lung Health Loan.

This initiative will greatly benefit new members of the Pag-IBIG Fund, particularly low-income earners facing financial crises or those recovering financially, by allowing them to avail of loans urgently to address their financial needs. Acosta also disclosed that the loan processing time will be shortened to as fast as an hour or, if possible, within five minutes, compared to the current processing time of two days.

Our low-income earners need cash loans. If they don’t have money to pay for electricity or to buy cooking gas, they can avail of the short-term loan for their immediate needs. - Marilene Acosta explained, Cebu Daily News

The MPL or Multi-Purpose Loan is provided by the Pag-IBIG Fund to cater to all members in financial need, and members can get a total of 80% of their savings and pay for 24 to 36 months at a low annual interest rate.

What are the requirements for filing a Pag-IBIG multi-purpose loan?

If you have a plan and you are now eligible to avail yourself of a short-term loan, take note of the things you need to prepare and continue reading to know the process of filing a loan.

If you are employed, you can get a Multi-Purpose Loan Application Form (MPLAF) from the HR department of your company, or you can download the form here.

Fill out the required information and submit it to the HRD for signing by the HR manager.  The HRD will add the computed total of your monthly salary, including all additional allowances, and the sum of monthly deductions.  If HR will not add your monthly salary, you can do it yourself by summing your monthly salary using your pay slips.

Documents need to be prepared:

1. Accomplished Loan Application Form

2. Valid ID—Scanned or Photocopy

3. Cash Card or Pag-IBIG Loyalty Card—the card where the fund will disburse once the loan is approved.

4. Self Photo—a photo of yourself holding your cash card and an ID you used for application

[Note: The online application accepts only 3MB-sized files to be able to upload.].  Use apps that can lower the size of your file. Though a phone screenshot is a much easier and practical way to lower the MB size of documents before uploading, make sure to crop the screenshot to just cut to the edge of documents.]

Go to the Short-Term Loan Application Portal, provide your Membership Identification Number (MID), and proceed by clicking the button "Validate your MID no."  Continue to provide your mobile number and input the OTP sent through text. Then upload all documents and submit.

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