Pag-IBIG offers 4.5% interest rate for affordable housing

Pag-IBIG Fund is offering a special interest rate of 4.5 percent for house-and-lot packages up to P1.8 million, fixed for the first three years of the loan.

This promotional rate is available starting October for the first 10,000 locally employed applicants and the first 1,000 Overseas Filipino Worker (OFW) applicants under the expanded Pambansang Pabahay para sa Pilipino (4PH) Program.

Eligible applications already in the pipeline will also be granted the special rate.

Department of Human Settlements and Urban Development Secretary Jose Ramon Aliling stated that this initiative aims to expand access to affordable home financing.

First-time homebuyers can avail themselves of the discounted rate if they are active Pag-IBIG members with at least 12 months of savings.

The program is open to members earning below P47,856 monthly in Metro Manila and P34,686 in areas outside the national capital region.