Home Headlines Pag-IBIG urges low-wage earners to avail housing, savings programs

Pag-IBIG urges low-wage earners to avail housing, savings programs

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Pag-IBIG Fund Central Luzon I Officials visit City of San Fernando Mayor Vilma Caluag (center) to encourage the city government to have all its job order employees enrolled as Pag-IBIG Fund members. (CSFP CIO)

CITY OF SAN FERNANDO, Pampanga (PIA) — Pag-IBIG Fund is encouraging low-income earner members to avail the various housing and savings programs it offers.

Pag-IBIG Fund Central Luzon I Area Head Agnes Nery shared that their MP2 program has generated high interest among Filipinos.

It is a voluntary savings facility which grows a member’s money through dividend rates bigger than the rates under the Pag-IBIG Regular Savings.

“The minimum savings is P500. No matter how much the members want to put into their savings, they can do so,” she said.

Members are allowed to open multiple accounts and grow their money as much as they want as there is also no limit as to the amount that they can save.

Nery emphasized that this savings program is useful for members who want to schedule their finances as this will allow them to also schedule their maturities.

“For example, parents who have three children may schedule the maturity of their MP2 so that they can use them for example in the graduation or in financing the tuition of each child,” she stated.

Under this savings program, Pag-IBIG Fund gives its members an option to compound their annual dividends and receive it upon full withdrawal of their savings after the five-year maturity period.

Pag-IBIG Fund Central Luzon I Area Head Agnes Nery shares their savings and loan program offerings for minimum wage and low-income earners. (PIA File Photo)

Members may also choose annual pay-outs where their dividends will be credited to their savings or checking account enrolled in any of its accredited banks.

They may also opt to enroll or register for another new account after five years.

To apply for the Pag-IBIG MP2 savings program, members may visit the nearest Pag-IBIG branch and submit the accomplished application form found in the Pag-IBIG website.

They can also do so by accessing the MP2 enrolment page at https://www.pagibigfundservices.com/MP2Enrollment/.

In addition, Nery underscored that minimum wage earners and low-income workers may avail its Affordable Housing Loan program to own their dream homes.

“This can be used for purchase of residential lot, house and lot, townhouse, or condominium unit; and construction or improvement of house,” she explained.

Under this program, borrowers enjoy a subsidized rate of three percent per annum for home loans of up to P580,000 for socialized subdivision projects, and up to P750,000 for socialized condominium projects.

This goes with monthly payments as low P2,445 and terms as long as 30 years.

To apply for this loan program, members may go to the Pag-IBIG Fund office nearest them or apply online via https://www.pagibigfundservices.com/virtualpagibig/HL/Reminder.aspx.

Also, Nery highlighted that low-income workers may also apply for the Pag-IBIG Fund Multi-Purpose Loan for their immediate financial needs.

Members can borrow up to 80 percent of their Pag-IBIG Regular Savings and can be processed in as fast as two days.

Those who have financial needs for home improvement, business capital, medical expenses, education-related expenses like tuition and miscellaneous fees, home appliances and furniture, utility bills, credit card balances, travel, and special events may use this loan.

To apply under this loan program, members may use the virtual Pag-IBIG platform which can be accessed at https://www.pagibigfundservices.com/virtualpagibig/.

Meanwhile, Nery encouraged local government officials to register their job order workers as Pag-IBIG Fund members.

“In the new housing program of President Ferdinand R. Marcos Jr., job order workers and low-income families should have their own houses. This will only happen through the local government units (LGUs),” she pressed.

She added that her office is visiting LGUs in Bataan, Zambales, Pampanga, Angeles City, and Tarlac to constantly remind them to have their members registered.

In 2023, Pag-IBIG Fund recorded a total P126.04 billion in home loans in the country which were reported to have financed a total of 96,848 housing units for its members. (CLJD/JLDC-PIA 3)

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