Looking for a Short-Term Loan? Try Pag-IBIG’s Multi-Purpose Loan

Rouselle Isla

Rouselle Isla

Last updated February 02, 2023

In 2021, Pag-IBIG announced that cash loans released for its member-borrowers amounted to ₱36.5 billion.[1] Pag-IBIG also extended its loan term from two to three years, so borrowers can take advantage of this Pag-IBIG loan to cover financial emergencies and other urgent expenses. 

Interested in applying? Here’s what you need to know about the Pag-IBIG Multi-Purpose Loan, also known as the Pag-IBIG Salary Loan

What is a Pag-IBIG Multi-Purpose Loan?

What is Pag-IBIG Multi-Purpose Loan?

The Pag-IBIG Multi-Purpose Loan is a cash assistance program every Pag-IBIG member can avail of. 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.

Since this is a multi-purpose loan, you can use it to pay for the following:

  • Home improvement
  • Business capital
  • Medical expenses
  • Education-related expenses like tuition and miscellaneous fees
  • Home appliances and furniture
  • Utility bills
  • Credit card balances
  • Travel
  • Special events 

Read more: Pag-IBIG Online Registration Guide: How to Get Your Pag-IBIG Number Online

How to Compute Pag-IBIG Multi-Purpose Loan Amount

How much is the first salary loan in Pag-IBIG? Calculations for the Pag-IBIG Multi-Purpose Loan amount are made according to the individual's membership term, multiplied by their 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 ₱2,880. The computation is as follows:

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

The amount you can loan increases 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.

What about if you have an existing loan? How much would be your maximum loanable amount?

You can still apply for a Pag-IBIG Multi-Purpose Loan even if you have existing loans with Pag-IBIG, like a Calamity Loan. Your loanable amount will be the difference between your current loan balance and 80% of your contribution's Total Accumulated Value (TAV). 

Pag-IBIG Multi-Purpose Loan Eligibility

multi-purpose loan pag-ibig - eligibility

To qualify for a Pag-IBIG Multi-Purpose Loan, Pag-IBIG Fund members need to meet the following requirements:

  • Have a total Pag-IBIG Fund savings of ₱4,800 or at least 24 monthly Membership Savings (MS)
  • Have made at least one Membership Savings within the last six months, as of the month prior to the date of loan application
  • With sufficient proof of income
  • Account must not be in default if with an existing Pag-IBIG Housing Loan, Multi-Purpose Loan and/or Calamity Loan

Pag-IBIG Multi-Purpose 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[2]

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 secure the following data:

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

How to Apply for a Multi-Purpose Loan in Pag-IBIG

If you’re eligible and with complete loan requirements, submit your documents to your HR department and coordinate your application with them. 

For self-employed members, visit a Pag-IBIG branch near you and have your documents processed for approval.

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

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

moneymax citibank personal loan promo - generic CTA

How Can I Apply for a Pag-IBIG Multi-Purpose Loan Online? 

You can apply for a Pag-IBIG Multi-Purpose Loan and other short-term loans using the Virtual Pag-IBIG platform. Take note that getting a Virtual Pag-IBIG Multi-Purpose Loan is available only to members who meet the following conditions: 

  • Have a Pag-IBIG Loyalty Card Plus or;
  • Have a Cash Card issued by Pag-IBIG Fund partner banks 
  • Works for an employer with a Virtual Pag-IBIG for Employers Account

Before applying for a Pag-IBIG Salary Loan online, make sure to prepare the following requirements: 

  1. Scanned copy or photo of the accomplished Multi-Purpose Loan Application Form (MPLAF), duly signed by your employer (if you’re employed), and bearing your signature and your two witnesses
  2. Scanned or photocopy of one valid ID card 
  3. Cash Card (which can be your Loyalty Card Plus issued by UnionBank of the Philippines, Asia United Bank, UCPB, or LANDBANK of the Philippines 
  4. A selfie photo showing your valid ID and Cash Card 

Here’s how to apply for a Pag-IBIG Multi-Purpose Loan online: 

multi-purpose loan pag-ibig - virtual pag-ibig

  1. Register for a Virtual Pag-IBIG account to apply for a Multi-Purpose Loan. 
  2. Log in to your Virtual Pag-IBIG account and choose Multi-Purpose Loan from the menu on the right panel. 
  3. Select Apply.
  4. Upload your accomplished loan application form and requirements, or complete the Pag-IBIG Multi-Purpose Loan application form online if your employer is enrolled in Virtual Pag-IBIG for Employers. 

Can I Apply for a Pag-IBIG Salary Loan Online If I’m Self-Employed? 

Yes, self-employed members with a Pag-IBIG Loyalty Card Plus card or Cash Card can also apply online by uploading the completed loan application form and other requirements. 

Another option is via email filing. Fill up the loan application form and save it as a PDF file. Attach a copy of your valid ID (front and back) with three signatures and the Declaration of Income.[3]Send them to the following Pag-IBIG email addresses:

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.ph CDO-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 Multi-Purpose Loan Term and Modes of Release

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

  • Crediting to your disbursement card
  • Check issuance
  • Bank transfer through Land Bank, DBP, or UCPB cash card
  • Loan issuance to your Pag-IBIG Loyalty Card Plus

How to Speed Up Your Pag-IBIG Multi-Purpose Loan Application

multi-purpose loan pag-ibig - how to speed up application

Need cash fast? For a faster loan process, consolidate the places you’ve worked at through Pag-IBIG. FPF400[4] 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. Get this form online to submit to your nearest Pag-IBIG branch, along with other loan requirements.

Request this workplace consolidation form and make sure the agency has a complete record of your work history. If you’ve worked in one general area throughout your career, this should facilitate a quicker loan processing time. 

Where to Pay Your Pag-IBIG Multi-Purpose Loan

You should pay your loan on time to avoid debt and high interest rates. Borrowers can now pay their Pag-IBIG Multi-Purpose Loan over an extended payment term of three years. They now have more time to pay off their loans and make their monthly payments lower. 

Employed members can pay for their loan through salary deduction, while individual payers or voluntary members can pay their voluntary contributions through a Pag-IBIG office or these payment channels:  

  • Bayad Center
  • AUB (over-the-counter)
  • Debit and credit cards (Visa, Mastercard, and JCB)
  • Maya
  • Coins.ph
  • AUB Online Banking / Mobile Banking
  • Hello Money / Hello Pag-IBIG Mobile App 

Pag-IBIG Multi-Purpose Loan FAQs

1. How much is the Pag-IBIG Multi-Purpose Loan interest

The interest rate is 10.5% per annum. Although Pag-IBIG may earn from loans it extends to its borrowers, it’s good to know that member-borrowers can receive a portion of these earnings in the form of dividends. 

2. How long does a Pag-IBIG Multi-Purpose Loan take?

Qualified members who apply for the Pag-IBIG Multi-Purpose Loan can have their loan processed in as short as two days. 

3. How long can I pay my Pag-IBIG Multi-Purpose Loan?

Borrowers can now pay off the loan for up to three years. If you didn't indicate the term, you can pay off the loan in three years as default. 

4. How can I check the status of my loan application?

multi-purpose loan pag-ibig - status verification

You can check your Multi-Purpose Loan application status via the Virtual Pag-IBIG Loan Status Verification page.[5] Choose Multi-Purpose Loan from the dropdown box and enter your Pag-IBIG MID number and last name. You'll see the Short-Term Loan Status Tracker. View whether your application has already been received, reviewed, and approved. 

5. What happens if I don’t pay my monthly amortizations on time?

Delays in monthly payments will be penalized daily with one-twentieth of one percent (1/20 of 1%) of the unpaid amount.

6. What if my employer fails to pay my Pag-IBIG Multi-Purpose Loan installment payment?

Borrowers who fail to pay on time will still be charged with penalties. However, the penalty will be reversed upon submission of proof that the employer is at fault. The employer will be charged one-tenth of one percent (1/10 of 1%) per day of delay. 

7. Can my MPL balance be offset against my TAV?

Yes. Your unpaid MPL balance will be offset against your TAV for the following reasons: 

  • Death of a member’s immediate family member
  • Total disability or insanity
  • Separation from service due to health reasons
  • Unemployment
  • Critical illness
  • Repatriation (OFW)

8. When can I pay directly to Pag-IBIG if my loan is initially set through salary deduction?

You can pay your MPL directly to Pag-IBIG if you:

  • Are suspended from work
  • Incurred leave of absence without pay
  • Cannot cover your monthly installment payments because your take-home pay is not enough

9. When can I renew my Pag-IBIG Multi-Purpose Loan?

You can renew your multi-purpose loan after paying an amount equivalent to six monthly installments. However, you may also need to check if you’re eligible for renewal. But once your renewal application is approved, your remaining balance from your existing loan will be deducted from your new loan. 

Further reading: The Complete Guide to Claiming Your Pag-IBIG Contributions

Final Thoughts

Paying your Pag-IBIG contributions can be very rewarding, especially if you take advantage of financing programs like the multi-purpose loan. Aside from offering low interest rates, Multi-Purpose Loans in Pag-IBIG also allow for restructuring programs and payment extensions depending on your situation. Thus, you can still achieve your financial goals even when funding solutions are limited. 

If you require further clarifications or assistance, email the Pag-IBIG help desk at publicaffairs@pagibigfund.gov.ph or call the hotline at (02) 724-4244.

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Rouselle has over eight years of writing experience in the personal finance niche. She has written feature stories, articles, and how-to guides on various personal finance and trending lifestyle topics. Before that, she briefly worked in banking and was a licensed life insurance advisor. When not writing, Rouselle likes to read books and binge-watch films and series. Follow Rouselle on Linkedin.


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