Pag-IBIG upgrades MPL loan limit to 90%, reduces eligibility period

The Pag-IBIG Fund has upgraded its Multi-Purpose Loan (MPL) program, allowing members to borrow up to 90% of their total Regular Savings, an increase from the previous limit of 80%, effective May 16.

Eligibility for MPL is now reduced to just one year of contributions, down from two years previously, enabling newer members to access funds more quickly and providing greater flexibility with a new one-year repayment term option.

The enhancements also apply to other Pag-IBIG Short-Term Loan programs such as HELPS and Calamity Loans.

Pag-IBIG Fund CEO Marilene C. Acosta highlighted that the monthly interest rate remains competitive at 1.4583%, with most of the interest returned to members as dividends, reflecting the fund's commitment to financial inclusivity.

In 2024 alone, Pag-IBIG disbursed P70.3 billion in cash loans to over 3.2 million members, and aims to assist an estimated 3.6 million members this year with projected releases reaching P95.3 billion.