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How to Apply for Multi-Purpose Loan from PAG-IBIG Fund

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You may avail the Multi-Purpose Loan of following purposes:

  • Car Repair
  • Health and Wellness
  • Livelihood or additional capital for business
  • Minor home renovation or improvement
  • Payment of Utility or Credit Card Bills
  • Purchase of appliances, furniture, or gadgets
  • Special Events
  • Tuition or Educational Expenses
  • Vacation or Travel

Requirements for PAG-IBIG Multi-Purpose Loan

  1. PAG-IBIG member who has made at least 24 monthly savings (MS) and has total savings equivalent to P4,800.
  2. Within the last 6 months, PAG-IBIG member must have made at least one monthly savings, as of the month prior to the date of loan application.
  3. If you have existing PAG-IBIG Housing Loan, your account must not be in default as of the date of your application.
  4. If you have an existing Multi-Purpose Loan or Calamity Loan with PAG-IBIG Fund, your account must not be in default as of the date of your application.
  5. You must also submit sufficient proof of income.

Loanable Amount

Your loan amount is equivalent to 80% of your Total Accumulated Value (TAV).

For example:

My TAV is P20,000. My loanable amount is 80% of P20,000 which is P16,000. Then, I have an existing Calamity Loan Balance, let’s say, P3,000, my loanable amount would be P16,000 minus P3,000 and this is equal P13,000.

Therefore, I may be able to loan P13,000 from PAG-IBIG Fund Multi-Purpose Loan provided If I qualify and meet all the requirements.

How will the Loan be released?

You may choose any of the following modes of loan release:

  • Loan to be credited to your disbursement card
  • Loan to be credited to your bank account through LANDBANK’s Payroll Credit Systems Validation (LBP’s PACSVAL)
  • Check payable to your name
  • Other acceptable modes of payment

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Loan Term and Loan Interest Rate

Your Multi-Purpose loan will be charged based on the prevailing guidelines of PAG-IBIG Fund for this program. Upon application, this loan term will be discussed to you, or you may inquire directly at any PAG-IBIG branch.

How to pay your Multi-Purpose Loan? 

If you are employed, your loan payment will be deducted from your salary.

If you’re an individual payor or voluntary member, you can pay your loan amortization over-the-counter. For an updated list of payment options for Multi-Purpose Loan, you may inquire directly at any PAG-IBIG branch.

How to Renew your PAG-IBIG Multi-Purpose Loan? 

The renewal of your Multi-Purpose Loan will be after you have paid 6 monthly loan amortizations and upon satisfying the guidelines and requirements of the program.

Your outstanding Multi-Purpose Loan obligation will be applied for your new loan proceeds and the net proceeds will be released to you.

How to Apply for PAG-IBIG Multi-Purpose Loan? 

  1. Download a copy of the Multi-Purpose Loan Application Form (MPLAF) online or get it from any PAG-IBIG Fund Branch. Click here to download MPLAF.
  2. Fill out the application form with all the required information.
  3. Using Payroll Account/Disbursement Card, you may attach a photocopy of your payroll account or disbursement card or deposit slip (for a newly-opened account).
  4. Submit your Multi-Purpose Loan Application form with all the required documents to any PAG-IBIG Fund Branch for your loan to be processed.

Multi-Purpose Loan Requirements:

  • Multi-Purpose Loan Application Form
  • Photocopy of at least 2 valid IDs
  • Proof of Income
    • Employed – Certificate of Employment with Monthly Income, Recent Pay Slips
    • Individual Payors or Self-Employed – Photocopy of Business Permit, Commissio Vouchers, other valid proof of income

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