From January to April 2024, the Pag-IBIG Fund disbursed P22.63 billion in cash loans, benefiting 965,291 members, agency officials reported.
This marks a 38-percent increase from the P16.44 billion released during the same period in 2023, aiding nearly 200,000 more members compared to the previous year’s 766,258.
“We are pleased that Pag-IBIG Fund continues to stand as a steadfast partner for Filipino workers in their times of financial need. We remain fully committed to President Ferdinand Marcos Jr.’s directive to uplift the lives of Filipinos,” said Secretary Jose Rizalino L. Acuzar, who heads the Department of Human Settlements and Urban Development (DHSUD) and chairs the 11-member Pag-IBIG Fund board of trustees.
Expanding its service offerings, the agency launched the Pag-IBIG Health and Education Loan Programs (Pag-IBIG HELPs) earlier this year.
These programs aim to support members with their health and educational expenses through partnerships with various schools and hospitals. Loans approved under HELPs are directly credited to the accounts of partner institutions, allowing members to benefit from discounts on their total bills when utilizing this service.
Expanding its service offerings, the agency launched the Pag-IBIG Health and Education Loan Programs (Pag-IBIG HELPs) earlier this year.
Pag-IBIG Fund’s short-term loans, which include the Multi-Purpose Loan (MPL) and Calamity Loan, enable eligible members to borrow up to 80 percent of their total Pag-IBIG regular savings. This includes both their monthly contributions, employer contributions, and accumulated dividends.
Borrowers can opt for repayment terms of 24 or 36 months with a two-month grace period before the first payment is due.
Meanwhile, Pag-IBIG Fund chief executive officer Marilene C. Acosta pointed out that the new mandatory monthly contribution rates of P200 for both employees and employers would enable members to access higher cash loans.
“With our members saving more through Pag-IBIG, we ensure that they gain access to more substantial benefits, such as increased cash loans under our Short-Term Loans, which we believe will better serve their financial requirements. Moreover, we do not charge processing fees, allowing members to fully utilize their loans as intended. This is our commitment to them — to always be their financial ally,” Acosta said.