You may get as much as 80% of your total accumulated value. The amount of loan that you can borrow depends on the borrower’s total accumulated value, subject to the terms and conditions of the program. It is also important that if you have an existing housing loan, multi-purpose loan, or even a calamity loan, it is important that it shouldn’t be in default as of the date of the loan application.
However, you need to be residing in an area by which the Office of the President or local government declared under the state of calamity. Similar to the requirements on how to avail of a short term loan, it is also applicable to this setup. In an event that there is an earthquake, flood or any other calamity, it is also possible that you can avail of the calamity loan. Here are the loans that you can apply for in Pag-IBIG today. Borrowing money from the PAG-IBIG Fund is convenient and practical considering the minimal deductions that you will have to bear.
Their loan products other than their housing loan can provide financial assistance to members who need livelihood, medical and even educational assistance. Borrowers then pay PAG-IBIG for their housing loan with a reasonable repayment amount for an extended time.īesides housing loans, the PAG-IBIG Fund is able to extend loan facilities for other purposes where contributors can borrow short term loans from the fund. This enables contributors to have enough money to pay for their dream house. The fund is primarily designed to provide affordable housing loans to its members.
The good thing about being a member of the PAG – IBIG Fund is that you can withdraw your savings after 2 decades of membership, after completing a total of 240 monthly contributions. In 2009, under RA 9679, Pag-IBIG membership was made mandatory to all employees that are covered by the Social Security System (SSS) and Government Service Insurance System (GSIS). Considering the inflation rate, this option is a practical means of purchasing a property or getting the money you need during emergencies. Aside from housing, another goal of the PAG-IBIG Fund is to generate savings. PAG-IBIG Fund is a government-run mutual fund developed for the primary purpose of providing affordable housing programs for the majority of Pinoys.
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