PAG-IBIG Fund members can now borrow more and qualify for cash loans faster following an upgrade to its multi-purpose loan (MPL), Malacañang announced on Tuesday, May 6, 2025.
Presidential Communications Office Undersecretary and Palace Press Officer Claire Castro said this move addresses the ongoing needs of Pag-Ibig Fund members, making the MPL qualification process easier and allowing for larger loan amounts.
“Another piece of good news for Pag-Ibig members. In response to the continued needs of members, the qualification process for the Pag-Ibig multi-purpose loan has been expanded and made easier,” Castro said.
Castro highlighted that under the enhanced MPL, eligible members can borrow up to 90 percent of their total Pag-Ibig regular savings, an increase from the previous 80 percent.
She further explained that members with higher regular savings will have access to larger loans, as the loan entitlement is directly tied to their accumulated savings.
“For members, their regular savings have been increased and upgraded, which will further increase their loan amount because their loans are based on their savings. Overall, members can receive more from the MPL to better meet their needs,” she said.
Castro also noted that these improvements, including higher loan amounts and faster eligibility, extend to Pag-Ibig Fund’s short-term loan programs, such as the health and education loan programs and the calamity loan.
The eligibility period for applying for a loan has also been shortened. Active members with just 12 months of Pag-IBIG contributions can now apply, a significant reduction from the previous 24-month requirement.
“The time for members to become eligible to avail of the loan has also been shortened,” Castro said.
“This means that more members will be able to access funds sooner for their immediate needs,” she added. / PNA