Pag-ibig Multipurpose Loan or Pag-ibig Salary Loan
How Much Can You Borrow?
Your Pag-ibig Loan Amount depends on your total savings with Pag-ibig.
Your total savings with Pag-ibig is the total of all your monthly contributions and all annual dividends added by Pag-ibig. Your total savings is called Total Accumulates Values or TAV
If you have paid 24 to 59 contributions, you can borrow up to 60% of your TAV.
If you have paid 60 to 119 contributions, you can borrow up to 70% of your TAV.
If you have paid 120 contributions or more, you can borrow up to 80% of your TAV.
Important:
You should be a currently-paying member.
You should have paid contributions for at least 5 of the 6 months immediately prior to your loan application.
For individual Payors:
You need to attach a document to prove you have a source of income, like commission receipts, remittance receipts, certificate of source of income by your barangay, etc.
When Can I Renew My Pag-ibig Multi-Purpose Loan?
How soon can I apply again for a Pag-ibig Multi-Purpose Loan or Short-term Loan?
You can apply again after you have paid at least 6 monthly amortizations,
and you have made 5 monthly contributions or savings within the last 6 months prior to new loan application.
The outstanding loan balance will be deducted from the new loan.
Can I apply again even if I defaulted on my Multi-Purpose Loan?
Yes, but only if you have paid at least 6 monthly amortizations before you defaulted and if Pag-ibig has already effected TAV offsetting, meaning Pag-ibig has already used your TAV to pay off your remaining loan balance. TAV is the total of all your monthly savings, employers' contributions and dividends.
You can request Pag-ibig for immediate TAV offsetting if you can prove you're in any of the following situations:
- Loss of job
- Serious illness (either you or immediate family member). Present a medical certificate issued by a licensed doctor.
- Death of an immediate family member
Can I apply again if I defaulted on my loan and have not paid at least 6 monthly amortizations prior to default?
Yes, but only after 2 or more years.
You can apply again after 2 years from date of TAV offsetting. If your TAV offsetting was done 2 years after your loan release, then your waiting time is longer.
What is TAV offsetting again?
It means Pag-ibig will use your Total Accumulated Values (TAV) to pay off your unpaid loan.
TAV is the total of your monthly savings/contributions, your employers' contributions and your annual dividends.
You can apply again after you have paid at least 6 monthly amortizations,
and you have made 5 monthly contributions or savings within the last 6 months prior to new loan application.
The outstanding loan balance will be deducted from the new loan.
Can I apply again even if I defaulted on my Multi-Purpose Loan?
Yes, but only if you have paid at least 6 monthly amortizations before you defaulted and if Pag-ibig has already effected TAV offsetting, meaning Pag-ibig has already used your TAV to pay off your remaining loan balance. TAV is the total of all your monthly savings, employers' contributions and dividends.
You can request Pag-ibig for immediate TAV offsetting if you can prove you're in any of the following situations:
- Loss of job
- Serious illness (either you or immediate family member). Present a medical certificate issued by a licensed doctor.
- Death of an immediate family member
Can I apply again if I defaulted on my loan and have not paid at least 6 monthly amortizations prior to default?
Yes, but only after 2 or more years.
You can apply again after 2 years from date of TAV offsetting. If your TAV offsetting was done 2 years after your loan release, then your waiting time is longer.
What is TAV offsetting again?
It means Pag-ibig will use your Total Accumulated Values (TAV) to pay off your unpaid loan.
TAV is the total of your monthly savings/contributions, your employers' contributions and your annual dividends.
