How To Loan In Pag-Ibig Online Short Term (2024)?

In this article, CashExpress PH will delve deep into the various types of loans available, discussing the pros and cons of each, clarifying interest rates, and providing invaluable insights into how to successfully apply for financial assistance from Pag-IBIG. Whether you are seeking a Multi-Purpose Loan (MPL), a Housing Loan, or a Calamity Loan, this guide is designed to equip you with the knowledge and understanding needed to make informed decisions about your financial future.

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Top 10 Fast Online Loans in Philippines – A Valid ID is All You Need Updated in May 2024 

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Summary of Loan in Pag-IBIG

Let’s kick things off with an overview of key points related to Pag-IBIG loans:

Topic Details
Review ⭐ Pag-IBIG online loans.
Loan Amount ⭐ Ranges from 2,880 to 6,000,000 Pesos.
Age Eligibility ⭐ 18 to 65 years old.
Loan Term ⭐ Varies from 1 to 30 years.
Interest Rates ⭐ Range from 3% to 10.5% per year.
Necessary Requirements ⭐ Include proof of income.
Pros and Cons ⭐ Highlights the advantages and disadvantages of Pag-IBIG loans.
Evaluating Effectiveness ⭐ Assesses the effectiveness of these loans.
Loan Types ⭐ Includes Multi-Purpose Loan (MPL) and Housing Loan.


What is a Loan in Pag-IBIG:

Understanding the essence of Pag-IBIG loans is vital. These financial assistance programs play a pivotal role in the lives of many Filipinos. They offer a path to affordable homeownership, a buffer against financial emergencies, and support in times of disaster. The Multi-Purpose Loan (MPL) and Housing Loan are two primary offerings that cater to a wide array of needs.

Pros of Pag-IBIG Loan Online

Why should you consider Pag-IBIG loans? Here’s what makes them attractive:

  • Lower interest rates compared to many bank loans.
  • Extended repayment periods that enhance affordability.
  • Accessibility for low-income earners.
  • Flexibility in terms and advanced payment options.

Cons of Loan in Pag-IBIG

While Pag-IBIG loans offer numerous advantages, it’s equally essential to acknowledge their limitations:

  • Involves paperwork and processing time.
  • Loan amounts might be smaller compared to bank loans.
  • Not ideal for urgent financial needs due to processing time.
  • Stricter regulations and eligibility criteria must be met.

Pag-IBIG Multi-Purpose Loan

The Multi-Purpose Loan (MPL) is a versatile financial tool. It provides qualifying members with rapid financial support for a broad range of needs. Borrowers benefit from flexible loan terms and favorable interest rates when accessing up to 80% of their total Pag-IBIG Regular Savings. This type of loan is suitable for addressing critical expenses, including living costs, home improvements, healthcare, and educational expenses. However, potential borrowers must carefully consider the conditions, eligibility requirements, and repayment obligations associated with this Pag-IBIG personal loan.

Maximum Loan in Pag-IBIG

Understanding the maximum loan amounts available for 1st and 2nd loans in Pag-IBIG is crucial. The specific loan amount a member can borrow depends on a combination of factors, such as genuine need, desired loan amount, loanable amount based on income, and the loan-to-appraisal value ratio.

For the first loan in Pag-IBIG, eligible members may borrow up to 80% of the total amount of their Pag-IBIG Regular Savings, which encompasses both their monthly contributions and their employers’ contributions.

The maximum amount for a 2nd loan in Pag-IBIG is six million pesos (6,000,000.00 PHP), subject to eligibility requirements and consideration of the borrower’s genuine need.

Loan in Pag-IBIG Interest Rate

Interest rates vary across different Pag-IBIG personal loans and are contingent on a member’s eligibility. The following interest rates are applicable as of the present:

  • Housing Loan: 6.5% per annum for the initial 3 years, followed by 9% per annum for the remaining loan term.
  • Affordable Housing Loan for Minimum-Wage and Low-Income Earners: 3% per annum for the first 5 years, followed by 6.5% per annum for the remaining loan term.
  • Multi-Purpose Loan: 10.5% per annum.
  • Calamity Loan: 5.95% per annum.

Example of Loan in Pag-IBIG Interest Rate Calculation

To gain a better understanding of how interest rates are calculated for a Pag-IBIG short-term loan, let’s consider an example. Imagine you are applying for a loan of 100,000 PHP with a fixed pricing period of 3 years. The current interest rate for this loan with a 3-year fixed pricing period is 10.5% per annum. This implies that you will pay an interest of 10,500 PHP per year on your loan, or 291.67 PHP per month. Over the course of the 3-year loan term, you will pay a total of 31,500 PHP in interest.

Interest rate calculation formula: Interest rate = (Loan amount * Interest rate per annum) / (12 * Fixed pricing period)

In this case, the interest rate would be calculated as follows: Interest rate = (100,000 PHP * 10.5%) / (12 * 3 years) = 291.67 PHP per month

To receive a personalized estimate of your loan’s interest rate, you can utilize the Pag-IBIG housing loan calculator.

Loan in Pag-IBIG Requirements 2024

The specific requirements for a loan in Pag-IBIG can vary based on the type of loan you are applying for. However, certain general requirements apply to several common loans:

Requirements for Housing Loan in Pag-IBIG:

  • Completed Housing Loan Application Form.
  • Updated Tax Declaration and Tax Receipt.
  • Vicinity Map.
  • Proof of Income.
  • Valid ID.
  • Active membership at the time of loan application.

Requirements for Salary Loan in Pag-IBIG:

  • Completed Salary Loan Application Form.
  • Valid ID with a signature.
  • Selfie photo.
  • Proof of income.
  • Active membership at the time of loan application.

How to Loan in Pag-IBIG Online

Applying for a Pag-IBIG loan online has been made more accessible than ever. Here is a step-by-step guide to the process:

Step #1: Visit the official website

Step #2: Move to Loan Online Application

  • Scroll down the homepage to locate “Short-Term Loan Online Application” on the left side. Click on it to be redirected to a new page.

Step #3: Prepare the required paperwork

  • First, tick to agree with the Data Privacy Statement, then click “Proceed.” Follow the prompts provided on the page to prepare the necessary documents, and continue by clicking the “Proceed” option.

Step #4: Choose your loan

  • Select your desired loan type and enter your Membership ID (MID). Afterward, press “VALIDATE YOUR MID NO.” and follow the remaining prompts on the website to apply for a loan online.

An instructional video is also available for reference, which can be helpful to visualize the process.

How to Apply for a Housing Loan in Pag-IBIG

If you’re interested in obtaining a housing loan from Pag-IBIG, follow these comprehensive steps:

Step #1: Check your eligibility

  • Begin by ensuring that you meet the requirements to qualify for a housing loan as mentioned above.

Step #2: Gather the required documents

  • The necessary documents for a housing loan application vary depending on your employment status. You can access the list of required documents on the website when you choose “E-Services” > “Housing Loan Online Application.”

Step #3: Submit your application

  • Select your loan type and fill in your MID, then click “VERIFY.” Submit your application online through Virtual Pag-IBIG.

Step #4: Wait for the approval of your loan

  • The processing time for a housing loan application typically falls within the range of 15 to 30 days. Once your loan is approved, the loan provider will notify you.

Step #5: Close your loan

  • After successfully paying off your loan, you can close your loan account by submitting the necessary documents to the lender.

Loan in Pag-IBIG Reviews and Feedback

Real experiences shared by customers who have availed of Pag-IBIG loans are invaluable in understanding the quality and reliability of these loans. Some key points from these reviews include:

  • Favorable comments regarding the reasonable interest rates.
  • Positive feedback on the ease and transparency of the loan application process.
  • Comparisons to traditional bank loans, highlighting the less stringent requirements for Pag-IBIG loans.
  • The connection between the loan amount and the member’s regular contributions.
  • The versatility of Pag-IBIG loans, suitable for purposes such as purchasing a home, covering medical expenses, or funding a child’s education.

In general, these reviews express high satisfaction with the Pag-IBIG loan experience, portraying it as a dependable and cost-effective option for those seeking financial assistance.

Loan in Pag-IBIG Payment Method

Once you’ve secured a Pag-IBIG loan, you’ll need to understand how to make payments. There are several convenient payment methods available:

#1. Salary deduction:

  • Employed members can have loan amortizations deducted directly from their salaries. This is a convenient method, eliminating the need to manage payments manually.

#2. Auto-debit arrangement:

  • An auto-debit arrangement can be established with a Pag-IBIG Fund partner bank. This means that your loan amortizations will be automatically debited from your bank account on a monthly basis.

#3. Over-the-counter payment:

  • You can make loan amortizations at any Pag-IBIG Fund branch. Additionally, several accredited collecting partners, including SM Business Service Centers, SM Hypermarket, Savemore, Bayad Center, LANDBANK, Metrobank, ECPay, M Lhuillier, and GCash, also accept loan payments.

#4. Virtual Pag-IBIG:

  • Virtual Pag-IBIG provides an online platform to make loan payments, offering the convenience of settling your dues at any time and from anywhere.

The specific payment methods available to you may depend on your employment status and location. To obtain detailed information on available payment methods, reach out to the Pag-IBIG Fund customer service hotline at (02) 8632-4747 or visit their website at

Compare Loan in Pag-IBIG to Other Companies

In this section, we’ll undertake a comparative analysis of Pag-IBIG loans in relation to bank loans and Social Security System (SSS) loans. This analysis will encompass various criteria to provide a comprehensive comparison, including interest rates, processing time, loan amount, payment terms, and eligibility requirements.

Let’s consider the following comparative chart:

Company Pag-IBIG Loan Bank Loan SSS Loan
Interest Rate 3% to 6.5% per year Varies, usually 6% to 8% 10% per year
Processing Time 17 business days 5 to 10 business days 3 to 5 business days
Loan Amount Up to ₱6 million Up to 80% of property Up to ₱32,000
Payment Term Up to 30 years Up to 20 years Up to 24 months
Eligibility Requirements Specific savings, age, Good credit history, age, Monthly contributions,
  no outstanding debt, steady income, and age age, and no past-due
  and no foreclosed   loans or benefits

The data provided here offers a valuable comparative insight into the advantages and disadvantages of different types of loans available to Filipinos.

Calamity Loan in Pag-IBIG

The Pag-IBIG Calamity Loan serves as a critical financial lifeline for members residing in areas declared under a state of calamity and impacted by disasters. Here are some vital details about this specific loan:

  • Loan amount: Up to 80% of the member’s total Regular Savings, including monthly contributions, employer contributions, and any dividends received.
  • Interest rate: 5.95% per annum.
  • Loan term: 24 months, with a grace period of 3 months.
  • Eligibility: Members must have a minimum of 24 months of regular Pag-IBIG membership, reside in a disaster-affected area, and maintain good standing with Pag-IBIG.

Frequently Asked Questions (FAQs)

Here are some common queries regarding Pag-IBIG loans:

What is the maximum loan amount available from Pag-IBIG?

The maximum housing loan amount you can obtain from Pag-IBIG is PHP 6 million. Your eligible borrowing amount will be determined by factors such as your actual financial requirement, your requested loan amount, your repayment capacity, and the loan-to-value ratio.

How can I check my loan balance in Pag-IBIG?

You can easily monitor your loan balance by setting up an online Virtual Pag-IBIG loan account. Through this portal, you can access details of your outstanding debt, payments made, and other relevant information. Alternatively, you may contact Customer Service at (02) 8724-4244 to inquire about your loan balance.

Can I apply for a Pag-IBIG loan if I already have an existing one?

Yes, you can still be approved for a Pag-IBIG loan even if you have an existing one. The loanable amount is contingent on your outstanding balance and contributions. To maintain eligibility for additional loans, you must make a minimum of six consecutive monthly payments.

What is the loan term for Pag-IBIG loans?

The loan term for Pag-IBIG loans varies depending on the loan type and the option you choose. Multi-Purpose and Calamity Loans can be repaid over 24 or 36 months, while Housing Loans offer a more extended repayment period of up to 30 years. For more details, you can refer to their official website.

When can I apply for a Pag-IBIG loan?

To apply for a Pag-IBIG loan, you must meet certain criteria, including having at least 24 months of membership savings, being an active member, having no outstanding loans in arrears, and passing Pag-IBIG’s background check. You can submit a loan application online or visit a branch of the organization. Typically, loan processing takes around 1-2 weeks.

How can I use GCash to pay my Pag-IBIG housing loan?

To pay your housing loan using GCash, open the GCash app, select “Pay Bills,” then choose “Housing & Real Estate,” followed by “Pag-IBIG Fund.” Enter your 20-digit Housing Loan ID and the payment amount. Finally, confirm the transaction and wait for an acknowledgment message.

Why was my Pag-IBIG salary loan application denied?

There are several reasons why your Pag-IBIG salary loan application may be denied, including providing false or fake documents, failing to make monthly payments, violating the organization’s rules and policies, not submitting accurate and complete requirements, and lacking the necessary income to repay the loan.

What is a short-term loan in Pag-IBIG?

A short-term loan in Pag-IBIG is a cash loan designed to address urgent financial needs. It can be a Multi-Purpose Loan (MPL) or a Calamity Loan (CL), depending on the situation. The loan term can extend up to 3 years, with an interest rate of 10.5% per annum.

How long does it take for Pag-IBIG loan approval?

The time it takes to approve a Pag-IBIG loan varies based on the loan type and the branch where you apply. For a multi-purpose loan, approval may take one to two weeks, while a housing loan approval may require 17 days. You can track your loan’s progress online or by contacting the customer service hotline.

Who is eligible to apply for a Pag-IBIG loan?

Anyone who is a member of the Pag-IBIG Fund can apply for a loan. To qualify, you must have at least 24 months of membership savings, be of legal age, and pass the organization’s background and credit checks. Additionally, you should have no outstanding loans in arrears.

What are the eligibility requirements for a Pag-IBIG loan?

To be eligible for a loan from the Pag-IBIG program, you must be a member of the Pag-IBIG Fund, have at least 24 months of membership savings, be of legal age, and possess a good credit standing. The specific requirements may vary depending on the type of loan you are applying for.

Is Pag-IBIG or bank financing a better option?

Pag-IBIG home improvement loans are generally more suitable for first-time homebuyers and individuals with moderate to low incomes. They offer lower interest rates, longer loan terms, and more lenient approval criteria compared to bank financing. However, bank loans may provide greater flexibility in terms of property type and interest rates.

What are the consequences of not paying a Pag-IBIG loan?

Failure to repay your Pag-IBIG loan will result in a penalty of 1/20 of 1% of the outstanding amount for each day of delay. Your account will be considered in default, and the entire balance will become due and demandable. Pag-IBIG may also initiate foreclosure proceedings on your account.


Pag-IBIG loans are a valuable resource for financial assistance. Applying for a loan online is a convenient and straightforward process, provided you meet certain criteria, such as having a valid ID, a minimum of 24 months of monthly savings, and six months of consistent contributions.

The total loan amount you can access is determined based on your income and contributions, and the annual interest rate is set at 10.5%. These loans offer versatility, accommodating various financial needs, whether it’s for business capital, education expenses, home improvements, or medical bills.

With a long-standing history of providing financial assistance to Filipinos, Pag-IBIG continues to be a reliable and affordable choice for those seeking loans. By understanding the intricacies of Pag-IBIG loans and the online application process, you can take full advantage of this financial assistance program and secure a brighter financial future.

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