Pag-IBIG Salary Loan Application Guide for Filipino Borrowers

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Published on: October 2, 2020 Last updated: February 2, 2021

Pag-IBIG Salary Loan Application Guide for Filipino Borrowers | Moneymax

When you land your first job, your employer will hand you documents that will allow you to enroll with PhilHealth, SSS, and Pag-IBIG. While PhilHealth is your basic medical insurance provider and the SSS identifies you as a private employee, the Pag-IBIG Fund is your gateway to financial assistance via a Pag-IBIG Salary Loan.

One of the advantages of being a Pag-IBIG member is that you can apply for a Pag-IBIG Salary Loan. The “salary loan” part is in reference to the fact that the amount you can borrow is dependent on your Pag-IBIG contributions.

Interested to apply? Here’s a quick guide to applying for a Pag-IBIG multipurpose loan.

What is a Pag-IBIG Salary Loan or Pag-IBIG Multipurpose Loan?

pag-ibig salary loan guide - what is pagibig multipurpose loan

The Pag-IBIG Salary Loan, also known as the Pag-IBIG Multipurpose Loan, is a cash assistance program every Pag-IBIG member can choose to avail. If you’re a qualified member, you can borrow up to 80% of your Pag-IBIG regular savings and have your loan processed in as fast as two days.

How to Compute Pag-IBIG Salary Loan Amount

Calculations are made according to the individual’s membership term multiplied by his/her monthly contribution. From there, a 60% loan factor is applied.

For example, an individual who has been a Pag-IBIG member for 24 months can only loan PHP 2,880. The computation is as follows:

24 months (Pag-IBIG membership) x 200 monthly contribution ÷ .60

The amount you can loan rises as your monthly contributions increase, and so does the loan factor. An employee who has made contributions for 120 months or more can take out a loan at an 80% factor.

Read more: How to Check if Your Employer is Paying Your Pag-IBIG, PhilHealth, and SSS Contributions

How to Apply for a Pag-IBIG Multipurpose Loan

pag-ibig salary loan guide - how to apply pagibig multipurpose loan

Pag-IBIG Salary Loan Eligibility

To qualify for a Pag-IBIG Salary Loan, Pag-IBIG Fund members need to accomplish the following requirements:

  • Have a total Pag-IBIG Fund savings of PHP 4,800 or at least 24 monthly Membership Savings (MS)
  • Have made at least one Membership Savings within the last six months, as of month prior to date of loan application
  • Submission of sufficient proof of income

Note that Pag-IBIG members with an existing Pag-IBIG Housing Loan or Pag-IBIG Calamity Loan must not have a default account in the date of application.

Pag-IBIG Salary Loan Requirements

  • Photocopies of two valid photos and two signature-bearing IDs
  • Latest payslips equivalent to a month’s wage
  • An accomplished Pag-IBIG Multi-Purpose Loan Application form[1]

You also need to be an active Pag-IBIG member at the time of loan application, with at least five monthly contributions for the last six months. The application form will require your employer’s information, so be sure to secure the following data as well:

  • Signature of Office Head/ or Authorized Representative
  • Employer/Company Name
  • SSS/GSIS No.
  • Agency Code and Branch Code

When you have all of these, submit your documents to your HR officer and coordinate your application with them. If you are self-employed, visit a Pag-IBIG branch near you and have your documents processed for approval.

You can also apply for loan renewal later on though it will require six months’ worth of payments towards your existing loan plus the outstanding balance together with any accumulated interest. Penalties and charges will be deducted from the new amount you take out.

The borrower’s penalty will be charged with 1% of the unpaid amount for each day of non-payment.

How to Apply for a Pag-IBIG Multipurpose Loan Online

Due to the pandemic, Pag-IBIG announced that they’ve started accepting loan applications online. For employed members, the process is still the same: submit your requirements to your HR department and have them work on your application.

You can also apply for a Pag-IBIG Multipurpose Loan and other short-term loans using the Virtual Pag-IBIG platform. Just register an account and apply for a multipurpose loan from there.

For self-employed members, all you have to do is fill up the application form, save it as PDF file, and send it to the following Pag-IBIG email addresses. Also attach a photocopy of your valid ID (front and back).

Pag-IBIG EmailAreas Being Served
ncrnorth@pagibigfund.gov.phGMA Kamuning, Quezon Avenue, Commonwealth Avenue, Cubao, Marikina, Caloocan – EDSA, Valenzuela, Pasig, Mandaluyong - Shaw Zentrum and Antipolo branches
ncrsouth@pagibigfund.gov.phMakati-Buendia I, Binan, Makati-Ayala Avenue, Makati-Buendia II, Makati-JP Rizal, Taguig - Gate 3 Plaza, Guadalupe-EDSA, Muntinlupa, SM Aura, Intramuros, Sta. Mesa, Binondo, Pasay, Las Pinas-Robinsons Place, Paranaque, Imus, Rosario, and Dasmarinas branches
Ilocos@pagibigfund.gov.phLa Union, Laoag, Vigan, Dagupan, Urdaneta, and Baguio branches
cagayanvalley@pagibigfund.gov.phTuguegarao, Solano, and Cauayan branches
centralluzon@pagibigfund.gov.phSan Fernando, Tarlac, Angeles, SBMA, Balanga, Malolos, Baliwag, Cabanatuan, and Meycauayan branches
southerntagalog@pagibigfund.gov.phLucena, Batangas, Lipa, Calamba, San Pablo, Sta. Rosa, Calapan, and Palawan branches
bicol@pagibigfund.gov.phLegazpi and Naga branches
centraleastvisayas@pagibigfund.gov.phCebu-Ayala, Dumaguete, Talisay, Toledo, Cebu-Colon, Mandaue, Danao, Mactan, Tagbilaran, Tacloban, Calbayog, and Ormoc branches
westvisayas@pagibigfund.gov.phIloilo-Manduriao, Iloillo-Molo, Kalibo, San Jose de Buenavista, Roxas, Bacolod, Kabankalan, and Sagay branches
northmindanao@pagibigfund.gov.phCDO-Lapasan, CDO-Carmen, Valencia, Butuan, San Francisco, Surigao, and Iligan branches
westmindanao@pagibigfund.gov.phZamboanga, Dipolog, and Pagadian branches
southwestmindanao@pagibigfund.gov.phDavao-Bajada, Davao-Matina, Davao-Lanang, Digos, Tagum, Panabo, General Santos, Polomolok, Koronadal, Kidapawan, and Cotabato branches

Pag-IBIG Salary Loan Term and Modes of Release

When you receive approval for your Pag-IBIG Multipurpose Loan application, you may choose from any of the following modes of loan release:

  • Crediting to your disbursement card[2]
  • Check issuance
  • Bank transfer through Landbank, DBP, or UCBP cash card
  • Loan issuance to your Pag-IBIG Loyalty Card Plus

Read more: Simple Steps to Applying for a Pag-IBIG Loyalty Card

How to Speed Up Your Pag-IBIG Salary Loan Application

pag-ibig salary loan guide - pagibig salary loan form

Need cash fast? For a faster loan process, do the following:

Consolidate the places you’ve worked at through Pag-IBIG. This means taking the time to request the workplace consolidation form and making sure that the agency has a complete record of your work history. If you’ve worked in one general area throughout your career, your loan’s processing time could be cut to as short as three days.

FPF400 allows Pag-IBIG members to transfer their membership records and loan details, effectively consolidating all their information and making it easier for the agency to process the loan.

You can get this form online to submit to your nearest Pag-IBIG branch along with other loan requirements.

Where to Pay Your Pag-IBIG Multipurpose Loan

Paying your loan on time is important to avoid debt and high interest rates. Borrowers can pay their Pag-IBIG Salary Loan over a maximum period of 24 months with a grace period of two months.

Employed members can pay for their loan through salary deduction while  individual payers or voluntary members can pay over the counter and directly in a Pag-IBIG office.

Related Articles: 9 Pag-IBIG Benefits You Probably Didn’t Know Yet

Final Thoughts

Of course, you may experience things differently depending on where you apply for your Pag-IBIG Multipurpose Loan. You may encounter complaints about delays in processing or other issues such as the property you plan on purchasing being foreclosed on.

In cases like these, the agency recommends that you reach out via their help desk, either via e-mail (publicaffairs@pagibigfund.gov.ph) or over the phone via the (02) 724-4244 hotline.

One last important note is that some branches may be open past 5:00 PM (such as the one in Pasig), but remember that having all your requirements on-hand and about a day to get it all done will be worth it.

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