A Proven and Guaranteed Way on How to Apply for Pag Ibig Multi Purpose Loan in less than Five (5) Working Days!

Ben Daggers
Ben Daggers
on September 11, 2011

Home Development Mutual Fund or commonly know as Pag Ibig offers financial assistance to its Members. Pagibig Multi Purpose Loan is designed to provide short term loans with affordable monthly installment payments and very low interest rates. Today, we’ll walk you through on How To Apply for your very first Pag Ibig Multi Purpose Loan. Apply for this can be easy as one two three, as long as you meet the eligible for this program.

The Multi Purpose Program was designed to help finance members’ immediate medical, educational or livelihood needs; minor home improvement, purchase of appliance and furniture, and other related needs.

How To apply for Pag Ibig Multi Purpose Loan

Before planning to avail the Pag Ibig Multi Purpose Loan , you must first have to know the following:

1. Loan amount is equal to:

  • 60% of your Total Accumulated Contribution / Value (TAV) for members with 24 – 59 months of contribution.
  • 70% of your Total Accumulated Contribution / Value (TAV) for members with 60 – 119 months of contribution.
  • 80% of your Total Accumulated Contribution / Value (TAV) for members with 120+ months of contribution.

2. Eligible Pag Ibig Member should have at least Twenty Four (24) months of contribution. (see “Who are Eligible to File”)

3. The loan is payable in 24 equal monthly installments.

4. Loan Interest is 10.75% per annum for the duration of the loan.

5. Available Mode of Payments:

  • Salary Deduction
  • Over the counter payment with the Pag Ibig accredited bank
  • Auto Debit from your bank account

6. Penalty of ½% is charge for every month of delay. Penalties can be cancelled or reversed if the member presents a proof that the delay is caused by the employer.

7. Check is usually provided within 4 – 5 days.

8. Transfer of Member’s Records and Loan Details take 15 – 30 days of processing. (only applies to Members with previous employers)

9. Renewal of Multi Purpose Loan can be done if the member already paid at least 6 amortizations.

10. If self employed, Annual Income Tax Return, Baranggay Clearance/Certificate, Land Bank ATM Account (Initial Deposit of P100 and P50 atm card fee.), and Letter of Introduction from HDMF are required as an attachment to your MPL Application form.

Who are Eligible to File?

Any Pag-IBIG Member who satisfies the following requirements may apply or file for a multipurpose loan (MPL):

1. The member has made at least 24 monthly contributions.

2. The monthly net take home pay requirement of government employees shall be subject to the rules and regulations as provided for in the General Appropriations Act (GAA). On the other hand, the monthly net take home pay of employees working with the private sector shall be based on their respective company policies, if any.

3. Members with active Fund membership at the time of application with commitment from both the employee and employer to continuously remit contributions at least for the term of the loan.

4. For members who have withdrawn their membership contributions due to membership maturity, the reckoning date of the updated 24 monthly contributions shall be the first monthly contribution following the month the member qualified to withdraw his Pag-IBIG contributions.

5. For members who have active contributions under both the Pag-IBIG I and Pag-IBIG II, the membership contributions under Pag-IBIG II shall be considered to meet the required 24 monthly contributions.

6. A member with an outstanding Pag-IBIG housing loan that is not more than 9 months in arrears and is not yet cancelled or foreclosed.

7. A member with an outstanding Pag-IBIG housing loan that is more than 9 months in arrears but is not yet cancelled or foreclosed may be allowed to avail of an MPL, provided that the purpose of the MPL is to update his/her housing loan arrearages. The MPL proceeds to be applied to the housing loan arrearages shall be subject to the applicant’s loan entitlement.

The Procedure

1. If you HAVE previous Employer: Download the Request for Transfer of Member’s Records and Loan Details Form by clicking this link and fill up the necessary details. This form consolidates your previous contribution from your previous Employer with your current Employer. Usually, it will take 15 – 30 days before your record will be the consolidated. Just be patient, don’t worry.

If you DON’T HAVE previous Employer: Download the Pag Ibig Multi Purpose Loan Application Form by clicking this link. Fill it all up with necessary details. You can see the sample on how to fill up form here.

2. After completing the application form, you can now submit it to your Human Resources Department. If your Company insisted that you should personally process your Loan application, you can ask them where to go. Or you can contact the Pag Ibig Hotline 724-4244.

3. Wait for 3 days for the feedback. Your HR Dept or a Pag Ibig personnel will contact you if your application is approved or not.

4. Your loan will be in Check. It will take 4 – 5 working days before it will be release. You can pick it up personally or send someone with signed Authorization Letter and your Valid ID. I think that’s it!I would like to remind everyone that you should bring 2 valid ID when you pick up you check.

Ben Daggers

Ben Daggers

is the creator of BenDaggers.com. He graduated from Adamson University (Philippines) with a Degree in Bachelor of Science in Accountancy dating back 2009 and earning his MBA in Polytechnic University of the Philippines. He is currently employed as a General Accountant in a well known Global Business Process Outsourcing. He enjoys learning new things. He consumes his spare time in front of his Computer with Adobe Photoshop and Dreamweaver.

35 Responses to “A Proven and Guaranteed Way on How to Apply for Pag Ibig Multi Purpose Loan in less than Five (5) Working Days!”

  1. rusi says:

    mam/sir,

    pano ko po malalaman kung magkano n contribution ko sa pag-ibig at kung naconsolidate n po ung record ko? ung isang company q n npagtrabahuhan ang tagal ng result umabot n ng 3 months hanggang magresign ako d q n nlaman kung consolidated n xa, nagpasa po ulit ako sa bago kong company gano po b tlg katagal d ko mkapag avail n mkpg loan. thanks po

  2. Harold says:

    Pano yan? ,mag loloan ako. then sa december mag resign na ako. 6 years na akung nag tratrabaho – di pa ako naka pag loan kahit SSS. Pwde ba yun? please naman o. salamat po..

  3. Johan Salarda says:

    Kelangan daw po nila ng two valid IDs and unfortunately, they no longer accept TIN IDs as one of it. Bakit kaya?

  4. francis says:

    1 year pa lang ako nghuhulog sa pagibig pede na po b akong mag loan ng calamity?

  5. paginas web says:

    thanks, very well written post, found it through a random google search and i shared it on my digg account

  6. Niknak says:

    Hello po. Nakapag full na ko nan equity pero wala pa pong loan take out. PAno po ito? Im planning to resign na po kasi ngaung July 2012? LiliPAT ako nan ibang company.

    Kelangan po ba na regular ako bago ako maapprove sa PAG-IBIG? Pano pag prinocess na nila ung sa loan pero hindi pa ko regular? May issue ba un sa approval nan loan ko?

  7. Richard says:

    pound for pound!

  8. Cha says:

    hi, ask k0 p0 kung pwede p mac0ntinue ung pag-ibig member ng kapatid k0. 2 yrs na xang member kya lng na-lay 0ff xa last 0ct. 08. pwede k0 bang ma-c0ntinue ung pag-ibig nia? pls. tell me h0w. kc gus2 k0ng magkar0n ng sriling haws. ty in advance!

  9. Edward says:

    gud pm… i started my business 2004, i was not aware at that time that pag ibig is mandatory and since i only have less than 5 employees when i started, i was not able to apply them in pag ibig, only sss and philhealth. Now i have more than 20 employees.p>what are the requirements in applying for pag ibig now? do you issue penalty for late application? thanks…

  10. Syncmaster_21 says:

    tanong ko lng if pwd mka avail ng housing loan kahit wla pang 24 months ung contribution ko. pwd po bang e.advance ang payment para tama2x 24 months ung contribution ko?.. please reply to my e-mail ad.. syncmaster_21@yahoo.com. tnx po.

  11. Rick says:

    tanong ko lang po, pano mag-apply for a multi purpose loan ang recently separated from work. naka 24 months contribution na ako. in fact more than 24months na pero yung pang 25th and so on months na contribution ko hindi pa nag-aappear sa record kasi hindi daw ma-update agad. hope you cud answer my questions. thanks so much.

    • Edward says:

      OO pwede ka na. Basahin mo lang sa itaas nung mga requirements and everything, This blog is about how to apply for Pag Ibig Multipurpose Loan.

  12. Sir/Mam,
    Tanong ko lang po about sa payment options ng housing loan, bale this coming Sept. 2011 na po mag-exapire ung post-dated checks na binigay ko sa Pag-IBIG. Ang problem hindi po ako makakapunta personally sa Pag-IBIG office by end ng Sept kasi nandito po ako sa South Korea ngaun. Nagpunta po ako sa branch ng Metrobank d2 sa Seoul pero Pag-IBIG contributions lang daw ang service nila. Wala na po ba iba option sa pagbayad ng housing loan other than post-dated checks? Wala po ba bank transfer?
    Thank you

  13. Maye says:

    Good day! im a pagibig member and i successfully paid 2 years contribution..i want to apply a housing loan..im a self employed but i just renting a place of my business area..i have no business permit and income tax to comply as some requirements for housing loan since im not the owner of the area.but i have the capacity to pay the monthly amortization if granted..what should i do to make my application will be approved even i dont have business permit?please help me? i need ur idea or advices…

  14. Kristine says:

    admin,
    gud day!! i would like to ask po coz i want to loan a house and lot tru pag-ibig and the amount of the said house and lot was 2M. do we need to buy the house and lot from our own pocket first before we can apply it to pag-ibig? or do we need the title under my husband name first? more power thnx somuch..looking 4ward 2 hear answer from u soon.

  15. Anonymous says:

    last 4yrs. nagfbakasyon ko nag-atemp ko na magloan in one realstate then everything almost tapos na nagbayad pa nga yong anak ko ng 1month contributionas recontenuation. then nag stop ulit ko due to circumtances. pwede ko ulit maituloy yon or back ako again sa 1st step.

  16. Anonymous says:

    This post is the easy way to apply for Pag Ibig Multi Purpose Loan for 2011. You can receive your check within five working days if you don’t encounter any problem

  17. Bella says:

    good day! ask ko lang po about my salary loan bale 2times na po ako ng loan e ngaun po gusto ko ulit irenew dahil nakaka-anim na contribution na po ako simula september 2010-march 2011 gusto ko lang malaman kung magkano na ang pede ko ulit iloan

    -ask ko rin po if ever bayaran ko ng buo un balance ko kelan at magkano ang pede ko maloan… salamat po

  18. Licudine says:

    I apply for a multi purpose loan and mailed it through LBC. I receive a notice of confirmation that my loan is being approved last march 30, 2011 with a total loanable amount of P17,800. But until now April 2, 2011 I keep on checking my ATM and my proceeds is not yet forwarded on my atm. Thank you..

  19. Chyores says:

    hello po,tanong lang po.bumalik na po ako dito sa aking jobsite.but on jan.18,2011 nagfile po ako nang mpl sa main office sa makati ang sabi po nila processing will take 4 to 6 weeks.makailang tawag na rin po ako sa makati main office pero parang hindi yata inasikaso.ita> is going to be 3 months already on the 18th of april pero wala pa rin.ang tanong ko po may maantay po ba ako?alam ko po na marami ang papers na napoproseso but i thought sabi nila ang pag ibig ay maaasahanmo sa oras nang iyong pangangailangan.

  20. Anonymous says:

    pwede dn po b akong magloan khit ofw ako? kddting ko lng this july. mron dn akong contributions pro mtgal n akong walang hulog. thanks!

  21. Anonymous says:

    Ben daggers, hndi ko po kc maintindihan kung paano po ako magaaply ng loan. english po kasi…

  22. Anonymous says:

    tanong ko lang po, nakag housing loan na po ako at good for 20 years of payment. nakapagbayad na din po ako ng 5 years, gusto ko po sanang magloan ulit para sa home improvement. maaaprove po kaya ang application ko?

  23. Jemn Candoleta says:

    I am interested on applying for a housing loan via Pag-ibig Housing Loan since I wanted to have my own place. Is there someone here who has a current loan with them? Can you please share your good and bad experiences? Why you were approved, how you applied for the loan, how much they allowed to lend you, etc… I am excited to learn from you. Thanks!

  24. Anonymous says:

    Gaano po katagal ang processing ng Transfer of records? salamat po!

  25. Rhian says:

    tanong ko lng if pwd mka avail ng housing loan kahit wla pang 24 months ung contribution ko. pwd po bang e.advance ang payment para tama2x 24 months ung contribution ko?.. please reply to my e-mail ad.. syncmaster_21@yahoo.com. tnx po.

  26. Tam Orosco says:

    Taong ko po sana kung ano nang nangyari sa mga contribution ko , naging myembro po ako noon pang 1981 natigil lang ako sa paghulog noong 1997 nang mawalan ako
    ng trabaho,pero bago ako nagresign ay mayron akong calamity loan at hangang sa ngayon ay di ko na nabayaran
    sa ngayon po ay 50 yrs old na ako,pwede po kaya akong
    mag file ng early retirement.

  27. Yaj says:

    hi! good may tanong po ako 45 years old napo ako mahirap na mag apply ng work nakapagremit ang dati kong employer ng almost 12 and half years sa pagibig fund paano ko makukuha ang savings ko?thank you po.

  28. Marky says:

    tanong ko lang po, pano mag-apply for a multi purpose loan ang recently separated from work. naka 24 months contribution na ako. in fact more than 24months na pero yung pang 25th and so on months na contribution ko hindi pa nag-aappear sa record kasi hindi daw ma-update agad. hope you cud answer my questions. thanks so much.

  29. Kat says:

    Taong ko po sana kung ano nang nangyari sa mga contribution ko , naging myembro po ako noon pang 1981 natigil lang ako sa paghulog noong 1997 nang mawalan ako
    ng trabaho,pero bago ako nagresign ay mayron akong calamity loan at hangang sa ngayon ay di ko na nabayaran
    sa ngayon po ay 50 yrs old na ako,pwede po kaya akong
    mag file ng early retirement.

  30. Pia says:

    hi, ask k0 p0 kung pwede p mac0ntinue ung pag-ibig member ng kapatid k0. 2 yrs na xang member kya lng na-lay 0ff xa last 0ct. 08. pwede k0 bang ma-c0ntinue ung pag-ibig nia? pls. tell me h0w. kc gus2 k0ng magkar0n ng sriling haws. ty in advance!

  31. Karina says:

    gud pm… i started my business 2004, i was not aware at that time that pag ibig is mandatory and since i only have less than 5 employees when i started, i was not able to apply them in pag ibig, only sss and philhealth. Now i have more than 20 employees.

    what are the requirements in applying for pag ibig now? do you issue penalty for late application? thanks…

  32. Richard says:

    pounds for pounds!

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