Pag-IBIG Fund raises multi-purpose loan limit
MANILA, Philippines — The government-run Pag-IBIG Fund has enhanced its popular Multi-Purpose Loan (MPL), now allowing members to borrow up to 90 percent of their savings and become eligible more quickly.
This is to affirm to “dedication to supporting the financial needs of Filipino workers,” Pag-IBIG said in a statement on Wednesday.
The new limit marks a 12.5-percent increase than the previous threshold of 80 percent.
For members with upgraded regular savings, this means they can secure even larger loans, as loan entitlement is directly based on their total savings.
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.
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