Guide on the Existence of “Grace Period” Under the Pag-IBIG Cash Salary Loan
PAG-IBIG CASH SALARY LOAN – Are you curious if there is the so-called “grace period” under the multi-purpose loan offer of Pag-IBIG Fund?
One of the options that you can consider if you are in need of some cash is the multi-purpose loan offered by Pag-IBIG Fund. Undeniably, not everyone knows about it as the government agency is made popular by its housing loan assistance offers.
With regards to the cash salary loan provided by the government entity to its members, it is a perfect solution whether you are into finding some money to add to the short budget or to make big things happen. Here are some of the purposes that it is open for:
- make ends meet
- pay for the utility bills
- purchase an appliance
- pay for the hospital bills
- pay for the school fees
There is a minimal eligibility qualifications set by the government entity under the Pag-IBIG Cash Salary Loan offer although it is only open for members. Do you want to know if you are eligible to apply for it? You may visit – PAG-IBIG LOAN – Who May Borrow Through the Pag-IBIG Multi-Purpose Loan.
With regards to the amount that the member can borrow under the said multi-purpose loan offer, it will depend on the total accumulated value of the applicant. At least twenty-four (24) monthly savings should have been posted.
- 24 – 59 Months – Up to 60% of the TAV
- 60 – 119 Months – Up to 70% of the TAV
- At least 120 Months – Up to 80% of the TAV
The maximum loan term under Pag-IBIG Cash Salary Loan is twenty-four (24) months or two (2) years. Meanwhile, according to an article on CashMart, there is a “grace period” of two (2) months.
Let us take for example that you can your proceeds from your Pag-IBIG Cash Salary Loan in December, you may start paying for your monthly dues in February. The loan should be paid every 15th day of the month.
Do you want to apply for the said loan offer? You may visit – PAG-IBIG SALARY LOAN – How To Apply & Requirements To Prepare.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
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