Pag-IBIG Fund has upgraded its popular Multi-Purpose Loan (MPL),
enabling members to borrow more, qualify sooner, and enjoy increased
flexibility, affirming its dedication to supporting the financial needs of
Filipino workers.
Under the improved Pag-IBIG MPL, members can now borrow up to 90%
of their total Pag-IBIG Regular Savings—12.5% more than the previous
80%. For members with upgraded Regular Savings, this means they can
secure even larger loans, as loan entitlement is directly based on their total
savings. This increase ensures members have greater access to financial
resources when needed most. These enhancements—higher loan
amounts and shortened eligibility—also apply to other Pag-IBIG Short-
Term Loan programs, specifically the Health and Education Loan
Programs (HELPS) and the Calamity Loan.
In addition to higher loan amounts, eligibility requirements have also been
enhanced. Members now qualify after contributing for just 12 months,
down from the previous 24-month requirement. This reduction allows
newer members to swiftly access funds for their immediate financial needs.
Meanwhile, members with existing loans under the previous guidelines
may still apply for an additional loan under the enhanced Pag-IBIG MPL,
should they require extra funds as a result of the increased loan
entitlement. The enhancements shall become available to members
starting May 16.
“We are continually enhancing our loan programs in response to what our
members need most” said Secretary Jose Rizalino L. Acuzar, Chairperson
of the 11-member Pag-IBIG Fund Board of Trustees and head of the
Department of Human Settlements and Urban Development.” These latest
improvements are aligned with President Marcos’ directive to deliver
affordable and accessible financial services to Filipino workers. By offering
bigger loans and reducing the eligibility period, we are making sure that
more members can benefit quickly and effectively from the MPL.”
The upgraded Pag-IBIG MPL also introduces a new one-year repayment
term, complementing the existing two- and three-year options. This
additional term provides greater flexibility, allowing members to tailor their
loan repayments according to their individual financial capacity.
Pag-IBIG Fund Chief Executive Officer Marilene C. Acosta highlighted that
amid these enhancements, the loan remains affordable, with a competitive
monthly interest rate of only 1.4583%. Additionally, the majority of the
interest earned from MPL repayments is returned to members as
dividends, further benefiting them.
“Our enhanced MPL reflects Pag-IBIG Fund's commitment to financial
inclusivity and responsiveness to the needs of our labor sector,” Acosta
said. “We know members rely on these loans to start a small business, pay
for tuition fees, cover medical expenses, undertake minor home
improvements, or purchase furniture and other necessities. These changes
mean our members can now more easily achieve their financial goals with
greater ease and convenience.”
In 2024 alone, Pag-IBIG Fund released P70.3 billion in cash loans to more
than 3.2 million members—the highest amount disbursed in a single
year—underscoring the strong and growing trust of members in the
program and the agency. Building on this momentum, Pag-IBIG Fund aims
to assist an estimated 3.6 million members in 2025, with projected cash
loan releases reaching P95.3 billion, as it continues to expand its reach
and deliver accessible financial support to more Filipino workers.
“We strive to continuously evolve and respond effectively to the changing
financial needs of our members,” Acosta added. “With these MPL
enhancements, Pag-IBIG Fund further solidifies its role as a reliable
partner in empowering Filipino workers toward greater financial stability
and peace of mind.”
