From January to April 2024, Pag-IBIG Fund released P22.63 billion in cash loans,
benefiting 965,291 members, according to agency officials. This is a 38% increase over
the P16.44 billion releases in the same period of 2023, assisting nearly 200,000 more
members than the previous year’s 766,258.
“We are happy that Pag-IBIG Fund continues to serve as a reliable partner of the Filipino
workers in their times of financial need. We are fully committed to President Ferdinand
Marcos Jr.’s call to help uplift the lives of the Filipinos,” said Secretary Jose Rizalino L.
Acuzar, who heads the Department of Human Settlements and Urban Development
(DHSUD) and the 11-member Pag-IBIG Fund Board of Trustees.
Adding to the range of services, the agency introduced the Pag-IBIG Health and
Education Loan Programs (Pag-IBIG HELPs) earlier this year. This program is designed
to support members with their health and educational expenses by partnering with
various schools and hospitals. Loans approved under HELPs are directly credited to the
accounts of the partner institutions, and members can enjoy discounts on their total bills
when using this service.
Pag-IBIG Fund’s Short-Term Loans, comprising the Multi-Purpose Loan (MPL) and
Calamity Loan, allow qualified members to borrow up to 80% of their total Pag-IBIG
Regular Savings. This includes their monthly contributions, their employer’s
contributions, and accumulated dividends. Borrowers have the option of a 24 or 36-
month repayment term and benefit from a two-month grace period before the first
payment is due.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta, meanwhile noted, that with
the new mandatory monthly contribution rates of P200 for both the employees and
employers, members can now avail of higher cash loans for their financial needs.
“Now that our members are saving more with Pag-IBIG, we assure that they will gain
access to bigger and better benefits, such as higher cash loans under our Short-Term
Loans, which we believe will be more helpful for their financial needs. We also do not
charge processing fees, so they can make full use of their loans as intended. This is our
commitment to them, that we will always be their financial ally,” Acosta said.
