How to Apply and Get a Multi Purpose Loan Pag Ibig

When faced with financial difficulties, many Filipinos seek alternative sources of income or start their own businesses to make ends meet. This is a practical solution given that the salaries of most employed Filipinos barely cover their basic needs each month. However, it is important to note that there are still several helpful benefits available to those who are employed, such as the Multi Purpose Loan Pag Ibig.

Despite the challenges that employed Filipinos face, there are resources available to them during emergencies. For instance, Pag-IBIG offers a salary loan program that can provide cash assistance to those who need it. The Pag-IBIG Multi-Purpose Loan is a type of loan that can be used for a variety of purposes, including home repairs, education, and medical expenses.

If you are concerned about the complexity of government loans, don’t worry – we will explain everything you need to know about the Pag-IBIG Multi-Purpose Loan and other benefits available to employed Filipinos

Purpose Salary Loan (MPL)?

The Pag-IBIG Multi-Purpose Salary Loan is a cash loan available to all members of Pag-IBIG. What makes this loan impressive is that if you meet the requirements, you can borrow up to 80% of your total contribution to Pag-IBIG, and the approved loan can be claimed in just two days. This is an incredibly fast process! Additionally, the loan is multi-purpose, which means it can be used for various expenses, such as utility bills, credit card balances, home improvements, education-related expenses (such as tuition fees and other school fees), medical expenses, travel expenses, business capital, and other special events.

Pag-IBIG Multi-Purpose Loan Requirements and Eligibility

In order to be eligible for a Pag-IBIG Multi-Purpose Loan, individuals who are members of Pag-IBIG must meet certain requirements. The complete list of these requirements is provided here and can also be found on their website.

Initially, it is necessary for you to fulfill the requirements for being qualified. These requirements include:

  1. Accumulating a minimum of PHP 4,800 as total savings in your Pag-IBIG Fund account or having made at least 24 monthly Membership Savings (MS).
  2. Ensuring that you have made at least one Membership Savings within the six months leading up to the month prior to your loan application date.

How to apply and get multipurpose loan                                                                                                                

  1. Your most recent payslips that are equivalent to a month’s salary.

A fully accomplished application form for the Pag-IBIG Multi-Purpose Loan.

Also, do prepare to have the following information from your employer as the application form will require the data below:

Make sure to gather the necessary information from your employer, such as the office head’s or authorized representative’s signature, employer or company name, SSS/GSIS number, agency code, and branch code, as the loan application form will require these details. Submit your documents to your HR department and coordinate your application with them. If you are self-employed, visit a Pag-IBIG branch to have your documents processed for approval.

Gather necessary information from your employer: office head’s or authorized representative’s signature, employer or company name, SSS/GSIS number, agency code, and branch code.

Submit documents to HR department and coordinate loan application with them.

For self-employed individuals, visit a Pag-IBIG branch for loan processing and approval.

To renew loan in the future, make six months’ worth of payments towards existing loan and pay off outstanding balance and accumulated interest.

Penalties and charges will be deducted from new loan amount.

Non-payment penalty is 1% of unpaid amount per day.

Step-by-Step Guide on How to Apply for Pag-IBIG MPL

There are two methods available to apply for a Pag-IBIG Multi-Purpose Loan: online or Over-The-Counter (OTC).

For the online application process, one needs to upload the completed MPL form and fulfill all necessary requirements. Members whose employers are enrolled under the Virtual Pag-IBIG for Employers can complete the Pag-IBIG MPL application online form. However, this option is only available for Pag-IBIG Loyalty Card Plus members.

In the OTC application process, one needs to submit the MPL application form and all the necessary requirements to the nearest Pag-IBIG branch. After submitting the form, one needs to ensure to claim the receipt and receive the loan amount on the scheduled date.

Unlike pre-pandemic times when in-person applications were required for most government-related use cases, applying for a Pag-IBIG MPL loan can be done conveniently online.

By registering for an account and applying for a multi-purpose loan from the Virtual Pag-IBIG platform, individuals can apply for a Pag-IBIG Multi-Purpose Loan and other short-term loans.

How to claim your Pag-IBIG Multi Purpose Loan?

Once your Pag-IBIG Salary Loan application is approved, you have the option to select any of the following methods for loan release:

  1. Crediting to your disbursement card
  2. Issuance of a check
  3. Bank transfer through Land Bank, DBP, or UCPB cash card
  4. Loan issuance to your Pag-IBIG Loyalty Card Plus.

To speed up the process of getting your Pag-IBIG MPL, it is advisable to gather all your previous work information. This will enable the Pag-IBIG team assigned to check your requirements to assess all your data quickly and determine if you qualify for the loan.

Pag-IBIG Multi Purpose Loan

How much can I loan in Pag-IBIG multi-purpose loan for the first time?

Pag-IBIG members who make contributions can borrow up to 80% of their regular savings with Pag-IBIG. To determine the exact amount, you need to multiply your monthly contribution by the length of your membership, and then apply the 80% loan factor.

For instance, if you have been a Pag-IBIG member for 15 months, you can only loan PHP 1,800. This is calculated by multiplying your monthly contribution by your membership term and applying the 80% loan factor.

15 months (total Pag-IBIG membership contribution) x PHP 200 (monthly contribution) x .60

As you increase your monthly contributions, the amount of money you can borrow from PAG-IBIG also increases due to the loan factor. Therefore, our advice is to wait for a few more months or even years to maximize your PAG-IBIG benefits.

How much is the interest of a Multi-Purpose loan in Pag-IBIG?


The MPL is available at a low annual interest rate of 10.5 percent. It’s important to mention that a considerable portion of the interest earned from MPL by Pag-IBIG Fund is given back to its members as dividends.

Can I avail of a loan from Pag-IBIG without work?

Yes, my dear! If you’re self-employed and have a Pag-IBIG Loyalty Card Plus or cash card, you’re eligible to avail of a Pag-IBIG salary loan. Just make sure to fill out the loan application form completely and submit it together with the required documents. Take note that your business must be registered in Virtual Pag-IBIG for employers to process your application.

Self-employed members with a Pag-IBIG Loyalty Card Plus or cash card may also apply for a Pag-IBIG salary loan by uploading the accomplished application form and other necessary documents. However, those with a Pag-IBIG Loyalty Card can only fill out the form online if their employer is enrolled in Virtual Pag-IBIG for Employers.”

Can we process the Pag-IBIG loan online?

Certainly! You can accomplish this task by visiting the Virtual Pag-IBIG page for members and performing the subsequent steps:

  1. Submit your completed form and necessary documents through uploading.
  2. Complete the online form.”

How to repay your Pag-IBIG loan?

The loan must be repaid in either 36 months or 3 years and the first payment can be deferred. Members have the option to choose a shorter repayment period of 24 months or 2 years.

For employed members, they can have their loan payments deducted from their salaries. If they want to make advanced or accelerated payments, they can do so through Virtual Pag-IBIG, any Pag-IBIG Fund branch, or accredited collecting partners’ outlets or online payment channels.

Self-employed individuals can make loan payments through Virtual Pag-IBIG, any Pag-IBIG Fund branch, or accredited collecting partners’ outlets or online payment channels.

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