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Are You Really Qualified for Pag-IBIG Multi-Purpose Loan in 2021?

Pag-IBIG Multi-Purpose Loan Updated on May 2023

Housing loan is the famous Pag-IBIG loan program. But did you know it also offers a short-term loan program like Multi-Purpose Loan?

In case you need extra cash to bridge the financial gap, you can apply for this Pag-IBIG cash loan

As of the year 2019 (January to November), there were already 1.9 million members availed of MPL. And according to Mr. Domingo Jacinto, Jr., the total loaned amount to these applicants was worth P38.9 billion.  

The Multi-Purpose Loan of Pag-IBIG is a big help for your family, especially when your salary falls short, just like the other government loans.

Let’s say you have to pay for your child’s JS prom, a hospital bill, a week’s worth of house expenses, or any sudden financial need. This loan will give you relief, especially with its low-interest rate of 10.5% per annum.

Pag-IBIG Multi-Purpose Loan

Pag-IBIG Multi-Purpose Loan Amount

The desired Pag-IBIG loan amount you’ll need will depend on the monthly saving you have contributed. If you have been paying your monthly savings every month for at least two years, you can borrow up to 60% of your Total Accumulated Value (TAV).

If you have paid for at least 60 months, you can borrow up to 70% of your accumulated savings. This increases as your savings increase.

Pag-IBIG Multi-Purpose Loan Qualifications

The main requirement is you must have at least 24 months of monthly savings. You are only qualified if you have already paid the last five monthly savings in your previous six months before the loan application date. 

You must also have a good membership standing. If you have any previous loans with Pag-IBIG, you must not have defaulted even once. You should have settled all the past loans before applying for a Multi-Purpose Loan.

You must also be willing to repay the loan for up to 24 months or two years. The good thing is you can have a two-month grace period. For example, if you have received your loan in December, you can start paying your loan in February.

You must repay the loan every 15th of the month. If you are employed, it can be deducted directly from your salary. But if you’re self-employed or an individual-payor, you must pay it personally or digitally on-time.

Note that there’s a penalty once you miss any payment.

Pag-IBIG Multi-Purpose Loan Documentary Requirements

There are documentary requirements that you should submit once you apply for MPL loan Pag-IBIG. Make sure that all details provided in the documents are accurate.

Generally, you need to submit the following:

  • An accomplished Multi-Purpose Loan Application Form
  • Photocopy of at least two (2) Valid IDs, and
  • Proof of Income

Here’s a few valid IDs that you can use as you apply for a Multi-Purpose Loan:

  • Passport
  • Driver’s License
  • Professional Regulation Commission (PRC) ID
  • National Bureau of Investigation (NBI) Clearance
  • Police Clearance
  • Postal ID
  • Voter’s ID
  • Government Service Insurance System (GSIS) e-Card
  • Social Security System (SSS) Card
  • Senior Citizen Card

The documents required will depend on your status, whether you are currently employed, self-employed, or an individual payor in terms of Proof of Income.

If you’re formally employed, your company can assist you with your application. Once you fill out the application, ensure that your employer will fill out the “Certificate of Net Pay” section at the back.

Besides the certificate, Pag-IBIG will alternatively accept a photocopy of your latest payslip that is duly authenticated by your company’s authorized personnel.

Usually, Pag-IBIG requires the self-employed and individual payors to submit a Business Mayor’s Permit, a Commission Vouchers, and Bank Statements or Passbook for the last 12 months. The Multi-Purpose Loan requirements needed to depend on the nature of the business you have.

Overseas Filipino Workers can also avail themselves of the Pag-IBIG Fund’s MPL program. All they need to submit is a photocopy of any of the following:

  • Employment Contract
  • Certificate of Employment and Compensation
  • An income Tax return filed with the host country

Pag-IBIG Multi-Purpose Loan Renewal

If you are interested, you can renew your loan after paying for at least six months, and your existing loan will be credited from your new loan.

Pag-IBIG Multi-Purpose Loan Release

You can get your borrowed cash through Pag-IBIG Fund’s Cash Cards. It could be the Disbursement Cash Card (LandBank Cash Card or Pag-IBIG Citi Prepaid Card), a Landbank’s Payroll (PACSVAL), a check, or Pag-IBIG’s Loyalty Card. 

Note that the release of the loan depends on Pag-IBIG’s discretion.

When will a Multi-Purpose Loan be in Default?

Getting a loan is a privilege that every member can avail of. You can use the money in times of a tight budget. But don’t forget about your responsibility in repaying the loan. You have to settle the loan diligently; otherwise, you’ll get default.

Your Multi-Purpose Loan will be in default if;

  1. Pag-IBIG discovers that any of the documents you have presented is fake or altered;
  2. You didn’t pay any three consecutive monthly amortizations;
  3. You did not pay your loan for three consecutive monthly amortizations; or
  4. You have violated any policy or guideline of the Pag-IBIG Fund.

Frequently Asked Question about Pag-IBIG Loans Program

How can we apply for Pag-IBIG loans online?

You can easily apply for Pag-IBIG loans online via Virtual Pag-IBIG. Just go to the Pag-IBIG Funds site, and you’ll see a pop-up dialogue like what you can see below.

Virtual Pag-IBIG
Virtual Pag-IBIG Online

Click it, and you’ll go directly to the Virtual Pag-IBIG portal. 

What are the steps on how to apply for Pag-IBIG Multi-Purpose Loan?

Here are the easy steps on how to apply via Virtual Pag-IBIG:

Step 1. Click the “For Members” button.

Step 2. Click the “Apply for and Manage Loans” button. 

Step 3. Click the “Apply for a Short-Term Loan” button.

After that, they will remind you to prepare the following:

Requirements for PagIBIG Multipurpose Loan

  • A Multi-Purpose Loan Application Form (MPLAF) that contains your information. Ensure that your application is signed. If you’re currently employed, have it signed by your immediate head or any authorized personnel and two of your witnesses? 

There’s a downloadable Multi-Purpose Loan Application Form on the site where you can directly fill it out and submit it.

  • Submit a photocopy or scanned  Valid ID.
  • A Cash Card (i.e., Loyalty Card Plus issued by Asia United Bank or United Bank of the Philippines, LandBank of the Philippines, or United Coconut Planters Bank Cash Card.)
  • A Selfie photo. You must take a selfie photo showing your ID and Cash Card.

Step 4. Click “Proceed” and choose Multi-Purpose Loan in the.

Step 5. Enter your Membership ID No. (MID), then click “Validate your MID No.”

Step 6. Provide your active contact number and email address, and click the “Next” button.  

Step 7. They will send a One-Time Pin to your active contact number and email. Once you receive it, you will proceed to the next step.

Step 8. Enter the OTP sent to you and click the “Proceed” button.

Step 9. Choose your cash card type and key in the Cash Card Number.

Step 10. Upload all the Pag-IBIG MPL Loan requirements mentioned above. Just upload the exact application and clear copies of other documents, especially your selfie holding your ID and Cash Cards. 

After uploading all the necessary documents, you can now submit your application. Please wait for a notification containing your Loan Reference Number they’ll send you. You can use it to check your loan status via Virtual Pag-IBIG. 

What are the other services offered in Virtual Pag-IBIG?

Through this easy online portal – Virtual Pag-IBIG – you will be able to register as a Pag-IBIG Member and get a permanent MID No. You can even open a Pag-IBIG MP2 savings account or view your savings record. 

Other Services offered are:

  • Top-Up your Pag-IBIG Regular Savings
  • Save in the Pag-IBIG MP2 Savings
  • Apply for Pag-IBIG Calamity Loan 
  • Pay your Pag-IBIG Fund loans, either Housing, Multi-Purpose, and Calamity Loans.
  • Check your loan status. 
  • View your loan records such as the payments made and the outstanding balance of your Loans;
  • Apply for Interest-Rate Repricing on Housing Loan;
  • View the account balance and transaction history of your Loyalty Card Plus (only available for cards issued by Asia United Bank currently)
  • You can also chat with a Lingkod Pag-IBIG 24/7 to help you learn more about your Pag-IBIG Fund benefits.

How Much I Can Loan In PagIBIG?

Active members can loan up to 80% of their Pag-IBIG Regular Savings. However, it must have a maturity of up to 24 months. 

How Many Months To Loan In Pag IBIG?

Active members with at least one monthly membership savings that fall within the last six months before the date of a loan application. 

How Many Years To Loan In Pag IBIG?

Borrowers must be active Pag-IBIG members with a minimum savings of 24 months. 

How To Pay Pag IBIG Multi Purpose Loan Online?

Acceptable online payment facilities for your Pag-IBIG MPL are by Debit/Credit card and Maya. 

Debit/Credit Card 

Mastercard & Visa, and JCB Card power this option. 

Step 1. Log in to the official Pag-IBIG website.

Step 2. Click the following options: e-Services > Online Payment Facilities

Step 3. Accomplish the required details:

  • Membership Category
  • Pag-IBIG MID No. or Registration Tracking No.
  • Payment Type
  • Amount Due
  • Period Covered
  • Member’s Contact Details and Email Address

Step 4. Confirm how you will receive the payment confirmation (SMS or Email)

Step 5. Enter the CAPTCHA code and click these options: Terms and Conditions > Proceed

Step 6. Review the Payment Summary before clicking Submit. 

Step 7. Choose a Debit/Credit Card for payment. 

Step 8. Supply the required details of your Debit/Credit card

Step 9. Take note of the Payment Result that contains the Reference No and Payment Reference No.

Step 10. You will receive an Email or SMS notification of your successful transaction. 


It was formerly known as PayMaya.

Step 1. Log in to the official Pag-IBIG website.

Step 2. Click the following options: e-Services > Online Payment Facilities

Step 3. Accomplish the required details:

  • Membership Category
  • Pag-IBIG MID No. or Registration Tracking No.
  • Payment Type
  • Amount Due
  • Period Covered To/From
  • Period Duration
  • Member’s Name, Contact Details, and Email Address

Step 4. Enter the CAPTCHA code and click these options: Terms and Conditions > Proceed

Step 5. Provide the card information (Card Number, Card Type, and Expiration) and click Pay

Step 6. Enter the passkey and click Submit

Step 7. A successful payment transaction will reflect Reference No. and Payment Reference No.

Step 8. You will receive an Email or SMS notification of your successful transaction. 

You may use Pay by Maya if you don’t have a debit, credit, or prepaid card. Do as follows:

Step 1. Click Pay by Maya and encode the registered mobile number and PIN

Step 2. Click Ok

Step 3. The system will automatically debit the due amount from the borrower’s Maya wallet

Step 4. A successful payment transaction will provide a notification with the Transaction Reference Number (TRN). It will serve as your PFOR (Pag-IBIG Fund Official Receipt.)

How To Renew Pag IBIG Loan?

You can renew Pag-IBIG Multi-Purpose Loan once you have paid an amount equal to at least six months of your monthly amortization. Also, you must fit the eligibility requirements. If you still have an outstanding balance from your existing loan, it will be deducted from your new loan proceeds. 

In case you need a quick personal loan for an emergency, you can get it from Cash Mart in just a day. Cash Mart only requires a valid ID, proof of billing, and income proof. If you are self-employed, you will need to provide a copy of your bank statement as proof of income.

For more information, visit Cash Mart’s FAQ page. Or, if you wish to know some financial tips and other lending guidelines, you can read on to Cash Mart’s Newsroom.