Starting May 16, Pag-IBIG Fund members can access a larger portion of their savings through the agency’s enhanced Multipurpose Loan (MPL) program, with the loanable amount now reaching up to 90% of their total savings.
The state-run agency made the announcement on Wednesday, highlighting that the MPL has been made “bigger and more accessible” with the increased loan limit, a shorter 12-month eligibility period, and more flexible repayment options.
“Mas pinadali at pinalaki na ang Pag-IBIG Multipurpose Loan sa pamamagitan ng 90 percent loanable amount mula sa iyong savings, pinaikling 12-month eligibility, at mas maraming repayment options,” the advisory read.
Under the new guidelines, members with upgraded Regular Savings will benefit from the higher loanable amount, while those availing of the Health and Education Loan Programs and the Calamity Loan will also enjoy the increased cap.
Previously, the loan limit was capped at 80% of members’ savings, with eligibility only after 24 months of contribution.
Pag-IBIG Fund Chief Executive Officer Marlene Acosta assured members that despite the enhancements, the MPL remains affordable, maintaining a monthly interest rate of just 1.4583%.
In 2024, the agency released a record PHP70.3 billion in cash loans, benefiting more than 3.2 million members. This year, Pag-IBIG aims to assist around 3.6 million members with projected cash loan disbursements of up to PHP95.3 billion.
