Guide on Who Are Eligible for the Pag-IBIG Loan (Multi-Purpose Loan Program)
PAG-IBIG LOAN – Here is a guide on who may borrow cash through the Multi-Purpose loan offer of the Pag-IBIG Fund.
A huge part of the Filipino populace are members of the Pagtutulungan sa Kinabukasan: Ikaw, Bangko, Industria at Gobyerno or more commonly called as Pag-IBIG Fund.
Pag-IBIG is a government agency that is tasked to provide affordable financing to the people most especially with regards to the acquisition of a residential property. An active member of the program may apply to be financially assisted in purchasing his or her target property.
Aside from the Pag-IBIG Housing loan, the government agency also offers a Pag-IBIG loan that can serve flexible purposes apart from the acquisition of a residential property.
Based on the official website of the agency, the said flexible Pag-IBIG Loan is under the Multi-Purpose Loan program. It can be applied for to serve a variety of purposes including:
- funding a car repair
- improving a house
- paying for tuition or educational expenses
- putting up a business
- funding a special event
- travel expenses
- payment of credit card bills or utility bills
- purchase of gadgets, furniture, appliances, etc.
With regards to the eligibility requirements in applying for the said loan offer, here is a list of what the applicants need to comply to be eligible for application:
The applicant must:
- be a member of Pag-IBIG Fund
- have posted at least 24 monthly membership savings
- have posted at least one(1) monthly membership savings within the last six(6) months
- submit a proficient information on his or her source of income
To apply for the Pag-IBIG offer, you may visit the nearest office to obtain for a copy of the application form.
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