Pag-IBIG Fund has disbursed P39.87 billion cash loans in the last nine months, breaking its record on highest cash loan disbursement in any January to September period.
The amount released benefited 1.9 million Pag-IBIG Fund members.
Secretary Eduardo del Rosario, chairperson of the Housing and Urban Development Coordinating Council and the Pag-IBIG Fund Board of Trustees said the Fund is exerting all efforts to assist Pag-IBIG members with their immediate financial needs though its Multi-Purpose Loan or MPL.
Pag-IBIG Fund’s MPL program serves as an affordable and readily-accessible source of funds. 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.
Acmad Rizaldy Moti, Pag-IBIG Fund chief executive officer, said the amount of MPL released in January to September increased 9 percent or P3.39 billion while the number of borrowers increased by 10 percent or 165,397 borrowers, compared to the same period last year.
Moti attributed these record-high numbers to the loan program’s reliability and faster processing in 2019.