Some 3.2 million Filipino workers received assistance through Pag-IBIG Fund’s short-term loan (STL) programs from January to October this year, a 28 percent jump from the 2.5 million borrowers recorded in the same period last year, agency officials announced Monday, December 1.
The agency said the rise reflects members’ continued trust in Pag-IBIG as a reliable source of affordable financial aid during times of need.
Of the total borrowers, 2.74 million members availed of the Multi-Purpose Loan (MPL). The MPL is designed to provide quick, accessible cash for a wide range of essential expenses, including school fees, medical bills, livelihood or business capital, home repairs, and other urgent financial requirements.
Pag-IBIG officials noted that the MPL remains the Fund’s most frequently used loan product due to its ease of application and flexible repayment terms.
Meanwhile, 535,546 members benefited from the Calamity Loan, which provides immediate relief for those affected by typhoons, floods, earthquakes, and other natural disasters. The loan helps families rebuild damaged homes, replace essential belongings, and cover emergency expenses while they recover from calamity-related setbacks.
Under Pag-IBIG’s STL programs, qualified members may borrow up to 90 percent of their Pag-IBIG Regular Savings—a combination of their monthly contributions, employer counterpart share, and annual dividends.
MPL borrowers may choose to repay their loan over 12, 24, or 36 months at a monthly interest rate of 1.4583 percent. The Calamity Loan, on the other hand, carries a lower 5.95-percent annual interest rate, with the same flexible repayment options.
Pag-IBIG Fund Chief Executive Officer Marilene Acosta said that members ultimately benefit from the loan programs because a significant portion of the interest earned returns to them as dividends on their Pag-IBIG Regular Savings and MP2 Savings.
The MP2 Program is a voluntary savings scheme that offers higher dividends and continues to attract members seeking secure, government-backed investment options.
Officials reiterated Pag-IBIG Fund’s commitment to keeping its loan programs affordable, accessible, and responsive to the financial needs of Filipino workers nationwide.
