Pag-IBIG Fund released P15.82 billion in cash loans in the first four months of the year, an increase of 5 percent from the P15 billion released in the same period last year.
Pag-IBIG said the amount of Multi-Purpose Loans (MPL) disbursed by the agency helped 728,653 members.
Under MPL, the agency’s affordable and easily accessible cash loan, qualified members can borrow up to 80 percent of their total Pag-IBIG Regular Savings, which consists of their monthly contributions, their employer’s contributions, and accumulated dividends earned.
The loan is payable in 24 or 36 monthly installments, with the first payment deferred for two months. The Pag-IBIG MPL comes at a low interest rate of 10.5 percent per year.
In the past years, the agency has returned more than 90 percent of its income to its members in the form of dividends.
In total, the Pag-IBIG Fund released P16.44 billion in short term loans benefitting 766,258 members in January to April. This includes the amount released under the Pag-IBIG MPL and the P.62 billion in Pag-IBIG Calamity Loans it released to aid 37,605 members.
