How to Apply for Pag-IBIG Salary Loan Online

If you are planning to get a loan at Pag-IBIG, as a member, you don’t need to go to their nearest branches just to file or apply for Pag-IBIG Multi-Purpose Loan (MPL) or Calamity Loan. Instead, you can now do it online via visiting its website, making applications consequently safe, convenient, and more accessible. If you are interested to apply, here’s a quick guide on the Pag-IBIG Salary Loan.

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What is Pag-IBIG Salary Loan?

Pag-IBIG Salary Loan is also known as the Pag-IBIG Multi-Purpose Loan (MPL), which is a cash assistance program every Pag-IBIG member can choose to avail. MPL is a cash loan designed to help qualified Pag-IBIG Fund with any immediate financial need.

The Pag-IBIG MPL can be used for any of the following purposes:

• Medical expenses;
• Minor home improvement;
• Capital for a small business;
• Tuition fee and other education-related expenses;
• Purchase of furniture, appliances or electronic gadgets;
• Payment of utility and credit card bills;
• Vacation and travel;
• Special events;
• Car repair; or
• Other needs

The MPL comes with an interest rate of 10.% per annum. Pag-IBIG noted that a significant part of the income derived from the MPL’s interest is returned to its members in the form of dividends.

Pag-IBIG Salary Loan Eligibility

To qualify, you must have:

• Active membership, by having at least one (1) monthly membership savings within the last six (6) months prior to the date of loan application;
• At least twenty-four (24) monthly membership savings under the Pag-IBIG Regular Savings program;
• If with an existing Pag-IBIG Housing Loan, MPL and/or Calamity Loan, the account/s must not be in default; and
• Proof of income.

Qualified members can borrow up to 80% of their total Pag-IBIG Regular Savings, which consist of their monthly contributions, their employer’s contributions, and accumulated dividends earned.

Moreover, this means that the more you save in your Pag-IBIG Regular Savings, the higher loan amount you may apply for via the MPL.

If you have an outstanding Pag-IBIG Calamity Loan, the amount you may borrow shall be the difference between the 80% of your total Pag-IBIG Regular Savings and the outstanding balance of your Pag-IBIG Calamity Loan.

ALSO READ: How to Apply for Pag-IBIG Fund Calamity Loan Online 107

Requirements

• Multi-Purpose Loan Application Form 263 (MPLAF, HQP-SLF-065) (1 Original)
• Valid ID acceptable to the Fund (1 Photocopy)
• Proof of Income (For Formally-employed:)

The “Certificate of Net Pay” portion at the back of the application form must be accomplished by the employer or submit a photocopy of one (1) month latest payslip duly authenticated by the company’s authorized signatory.

• Proof of Income (For Self-Employed, any of the following:)

a. ITR, Audited Financial Statements, and Official Receipt of tax payment from bank supported with DTI Registrant and Mayor’s Permit/Business Permit (1 Photocopy)
b. Commission Vouchers reflecting the issuer’s name and contact details (for the last 12 months) (1 Original)
c. Bank Statements or passbook for the last 12 months (in case income is sourced from foreign remittance, pension, etc.) (1 Original)
d. Certified True Copy of Transport Franchise issued by appropriate government agency (LGU for tricycles, LTRFB for other PUVs) (1 Original)
e. Certificate of Engagement issued by the owner of business (1 Original)
f. Notarized Affidavit of Income (HQP-SLF-136) (1 Original)

• Proof of Income (For Overseas Filipino Workers (OFW), any of the following:)

a. Employment Contract
–  Employment Contract between employee and employer (1 Photocopy); or
– POEA Standard Contract (1 Original)
b. Certificate of Employment and Compensation (CEC)
– CEC written on the Employer/Company’s official letterhead (1 Original); or
– CEC signed by the employer (for household staff and similarly situated employees) (1 Original), supported by a photocopy of the employer’s ID and passport
c. Income Tax Return filed with Host Country/Government (1 Original)

Note, however, that in all instances wherein photocopies are submitted, the original documents must be presented for authentication.

How to Apply for Pag-IBIG MPL?

You may easily apply for a Pag-IBIG MPL online by following the steps below.

Via Email

1) Download and accomplish the Pag-IBIG Multi-Purpose Loan Application form.
2)Email form to your company HR, fund coordinator, or other authorized representative along with front and back photocopies of:
– Valid ID
– Loyalty Card Plus (if applicable)
– Landbank card (if applicable)
– UCPB card (if applicable)
-DBP cash card (if applicable)

3) Your company representative will then email the  Employer Confirmation of STL Application 119 to the pertinent Pag-IBIG fund department:
4) Email your Multi-Purpose Loan documents to the nearest Pag-IBIG branch via these emails:

Via Virtual Pag-IBIG

Another option is by applying via Virtual Pag-IBIG 135.

• Uploading your duly accomplished loan application form and requirements*; or
• Completing the Pag-IBIG MPL application online form, for members whose employers are enrolled under the Virtual Pag-IBIG for Employers**

*Available to members with a Pag-IBIG Loyalty Card Plus or cashcards issued by any of Pag-IBIG Fund’s partner banks for such purpose.
**Available to members with a Pag-IBIG Loyalty Card Plus only

How to pay for the loan?

The loan is payable within three years or 36 months and comes with a deferred first payment. Members may also opt to pay their loans in two years or 24 months.

If you are an employed member, you may pay your loan amortizations via a salary deduction arrangement with your employer. Should you wish to accelerate or advance your payments, you may do so via Virtual Pag-IBIG, at any Pag-IBIG Fund branch near you, or through any of our accredited collecting partners’ outlets or their online payment channels.

On the other hand, if you are a self-employed individual or an Overseas Filipino Worker (OFW), you may pay your loan amortizations via Virtual Pag-IBIG, at any Pag-IBIG Fund branch near you, or through any of our accredited collecting partners’ outlets or their online payment channels.

To know more about the Pag-IBIG Multi-Purpose Loan (or Salary Loan), you may download Pag-IBIG Fund Circular No. 448, Modified Guidelines on the Pag-IBIG Multi-Purpose Loan (MPL) Program by clicking here 111.

Source: Pag-IBIG Fund 11