PAG-IBIG Fund officials announced on Wednesday that its cash loan, the Pag-IBIG Multi-Purpose Loan, is ready to assist members with their school-related fees as the academic season starts this month.
The Multi-Purpose Loan is the agency's affordable and easily accessible cash loan.Qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer's contributions, and accumulated dividends earned. Loan processing is as fast as 3 days, with the loan conveniently credited to the borrower's Pag-IBIG Loyalty Card Plus.
The loan is payable in 24 or 36 monthly installments, with the first payment deferred for two months, and comes at an interest rate of 10.5 percent per year.Pag-IBIG Fund added that over the past years, it has returned more than 90 percent of its income, mostly derived from interest on loans, to members in the form of dividends.
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