Pag-Ibig Fund Multi-Purpose Loan
Overseas workers sacrifice a lot, and one the moments our fellow Filipinos abroad are looking forward to is the time when they can go back home and enjoy the fruits of their hard work. This could mean going home to a more comfortable home, with a stable business and children about to graduate from school. Well, Pag-ibig Fund is helping OFWs realize these by offering a Multi Purpose Loan. This program assists OFWs with their educational, livelihood and other financial needs.
Pag-ibig Fund
About
Pag-ibig Fund is the Home Development Mutual Fund of the Philippines created in 1978. It has been helping its members in improving their lives through an effective savings scheme.
Multi-Purpose Loan
Since OFWs doesn’t just need housing loans, its good news that Pag-Ibig fund now offers Multi-Purpose Loan program. It provides financial assistance to its members, including members of the Pag-ibig Overseas Program. The loan may be used for the following needs:
- Medical
- Educational
- Livelihood
- Minor home Improvement
- Purchase of Appliance/furniture
- Other important needs
Who are eligible
Any member who have made at least 24 monthly contributions and is active/contributing can apply for a loan. Not a member yet? Well you can check out this link to Pag-Ibig Fund home page as they provide useful information on how to become a member. You can also download the forms from the site.
Borrowing
One can loan up to 60% of his or her total accumulated value. If the contributions were made in dollars or in other foreign currencies, the member can borrow 60% of the peso equivalent of his total accumulative value. The current exchange rate at the time of approval will apply. You may start you loan application by downloading the form.
Loan details
- The loan is payable in 2 years or 24 equal monthly amortizations
- Interest rate is 10.75 percent per annum
- Payment has to be remitted to Pag-Ibig on or before the 15th of every month
- In case of a delay in payment, there will be a penalty of ½ percent of any unpaid amount for each month of delay.
Modes of Payment
There are several ways by which one can remit payments to Pag-Ibig fund.
- Salary Deduction
- Over-the-Counter
- Auto-debit arrangement with banks
- Other modes the Pag-Ibig Fund may adopt in the future
For OFWs, the most practical mode of payment would probably be the Auto-debit arrangement with banks. This would save them the money and trouble of having to send money home and having someone from the family remit the payment to Pag-Ibig.
Another mode of payment for the benefit our OFWs is the online payment recently adopted by the agency. A memorandum of agreement has recently been signed between Pag-ibig and Forex Holdings. Now, payments can be made online through the website http://www.forexworld.com using Visa or MasterCard credit cards. The member just needs to fill-up and submit the form online. The system also sends a feedback to the member whether the payment has already been received. A receipt is sent to the member’s overseas address for every payment made.
Good
What’s good with this loan program is of course the low interest rate. Also, for overseas workers who are under the Pag-Ibig Overseas Program, they can still apply for a loan even if they still have an outstanding loan. So you need not wait for two years to apply for another loan. Also, if you are a long time member, you can apply for a loan of up to 80% of your total accumulated value. This is for members with at least 120 months of contributions, while 70% is allowed for those with 60-119 months of contributions. Another good is that you can make your payments online through the forex website or through the online services of accredited banks . So if you’re worrying about making the payments while you are outside of the country, check out the links.
Contact
Pag-Ibig Fund Call Center: (02)724 4244
Website: http://www.pagibigfund.gov.ph
Email: publicaffairs@pagibigfund.gov.ph
Text: 0917-8922990 / 29907244244 <Pag-Ibig_mensahe>
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26 users commented in " Multi-Purpose Loan program from Pag-Ibig Fund "
Follow-up comment rss or Leave a Trackbackthis is very helpful for OFWs. Thanks for posting:-)
jane’s last blog post..Customer Service Associate (urgent Hiring)
pwede po ba ako magsalary loan seaman ofw po ako member din ng pop kaya lang di ko pa po nahuhulugan kc di ko alam kung saan ako maghuhulog pag onboard po ako..kadarating ko lang po last month dito sa pinas may mga dati narin po ako contribution nung dito pa ko nagtatrabaho sa pinas.
mag tanong lang po, may lupa na po ako naka pangalan po sa akin, nag huhulog po ako dati sa trabaho sa pinas, naka loan na din po ako.
paano pa ako mabibigyan ng loan para makag pagawa ako ng bahay sa lupa ko? ano po mga kailangan kong ihanda bukod sa land title at contribution? taga batangas po ako. sana po matulungan nyo ako.
salamat po.
ask ko lng po kung pwede po magloan ng pabahay,pero may existing loan pa po ako sa Pag Ibig..tsaka depende po b salary m pwede m i loan?
tanong ko lang po..nka loan na po ako ng bahay good for 15years ang bayaran. 4 years na akong nagbabayad, pwede ba akong mag loan uli ng minor home improvement doon sa bahay na ni loan ko? so bali magloloan na naman ako uli at d ko pa natapos yung unang loan ko…pwede ba yun?
inquire me lang po if pwede ako mag avail ng loan even po n hindi na ko nakakahulog ofw po ako nkita ko lang po sa internet kaya nagbakasakali po ako na matutulungan nyo ako.
tanong ko lang po..existing member ako ng pag ibig siguro mga 8yrs, pero na stop ako nung mag abroad ako (OFW) pero hindi pa ako nag pa member ulit ng pag-ibig bilang OFW..previously meron pa ko salary loan na hindi pa fully paid. Gusto ko sanang mag loan para mag start ako ng maliit na negosyo sa Pilipinas.
Possible po ba na maka loan ako?ano po mga requirements?
hi,
ano po procedure & requirements sa pag file ng Pag Ibig Multi Purpose Loan for OFWs?
salamat
AiDiSan´s last blog post..Fighting Bordome with Online Casino
hi,
I am already 3 years and actively paying my Pag-ibig contributions through salary deductions. I am posting this to ask guide on how to apply for a loan for the Multi-purpose loan. I am not an OFW.
pwede po ba ako mka avail ng car loan, ano po ang mga requirements para makakuha po, 5 years na po akong active member ng pag-ibig. thnks
tapos OFW PO AKO. THNKS
IM RECEIVING NOW PENSION FOREVER FROM MY LATE FORIEGNER HUSBAND.DO IM QUALIFIED TO BE A MEMBER OF PAG IBIG:MABUHAY
Thank you for the informative work![url=http://0321com1s2.awardspace.us/?purina.com]purina.com[/url]
Gud pm!
Just want to ask if I could possibly avail of a bigger loan to use for my remaining home improvement & appliance purchase since salary loan does not satisfy what i need.
I am thru with my first loan and I made it within 6 months term only for fast payments. I also increased my contributions from 200 to 1,000 every month. Would this be benificial for a higher loan amount? What are the requirements i need to process to avail of higher loan?
Thank you and looking forward to receive your immediate response.
Mag tatanong lang kung magkano ang open sa pagpamember 5 years na ako sa uk.di pa ako member ng pagibig baka makkahabol pa sa loan.kung maging qualify Pls.write to my add.
Sarah P.Warde
Flat 60 Buttermere Court
Boundary Road
St. John Wood
London NW8 6NS
Thanks
hello po gusto ko lang magtanong kung paano ako makakakuha ng house and lot na mura lang ang hulog.I here in dubai i work as housemaid at 44 na ako gusto ko iyong maikling years lang babayaran pagibig member din ako at gusto ko sa cavite. wait ko ang sagot nyo po thanks po
tanong kulang po gusto ko po makakuha ng lupa at bahay na mababalang po ang hulog matatapos na po ako sa 24mon na pag babayad isa po akong ofw dito sa saudi arabia binigyan po kami ng abiso ng companya namin na mag sasara na sila sa taon na darating 2010 ma kasali po kaya ako sa multi-Purpose Loan program ano po ang kailang para makapag loan hintay ko po ang sagut ninyo thanks a lots po
meron akong loan sa paibig tapos umalis ako para mag trabaho sa ibang bansa at d ko natutuloy na bayaran ung loan ko, pwede ko paano ko malaman kung mag kano na ung balance ng loan ko at kung mabayaran ko sakali pwede ako mag apply ng housing loan.
salamat po sana malaman ko kaagad ung reply nyo.
danilo
tanong kulang po may lot na po kami at nka title po sa amin ng husband ko seaman po cya,at member po cya nang pag ibig,pwide po ba naming e loan yun pra maka pagawa po kami ng bahay.sana po malaman ko kaagad ung sagot nyo.
gud pm po,tanong ko lng po,meron kaming nakitang lupa tapos gusto kong tayuan ng bahay,pwd ba po yun na mag loan ako sa inyo tapos yun ang ibayad ko sa lupa at ipatayo ng bahay.kng pwd ano pong requirements,OFW po ako,membro po ako sa local for 5 years tapos na hinto lng kc nandito ako sa saudi.paki email nlng po kng anong gagawin para mag ka bahay na po ako.ang probinsya namin sa southern leyte.pwd kng papuntahin ang asawa ko doon sa branch nyo kng pwd.maraming salamat po..
helo po, ask ko lng, pwede po ba maka loan ng housing kahit walang TIN Number? sa company po kc na pinasukan ng husband ko hnd po required sa knila ang TIN, private company po cla, pwede po ba yon? kng hnd po pwede ano pa po bang ipang paraan.. salamat po.
Paano po ba kung may existing multi-purpose loan na hindi nbayaran since feb.2009 dahil po naging jobless? Ngayon po ofw na. Plano na po mag-change sa POP. Hindi po ba ito makakaapekto sa housing loan application namin? on-going pa po ang construction nung bahay na nkuha nmin nung feb.2008, fully paid na ang equity sa developer.
hi po ask ko lang po if posible na makapag loan ng housing 6 yrs na po ako sa qatar and nag start na po akong mag member sa pag-ibig but kailanagn ko po sa tuy, batangas ang location ng bahay if posible po kase taga doon ako.
tanong ko lng po kung ano ang kailangan na requirements para sa home improvement habang narito ako sa abroad sa saudi at saka tanong ko na rin po kung autorize ang skyfright cargo forwarders dito sa riyadh na tumaggap ng buwanang monthly contribution salamat po
Four our overseas filipinos who wish to learn more about the Pag-IBIG Fund, please visit http://www.pagibigfund.gov.ph , tel. +632-8943389
hello, nasa dubai po ako puede po ba akong maka avail ng ofw loan, at paano. paki reply lang po salamat
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