Pag-IBIG Fund’s cash loans come in the form of a Multi-Purpose Loan (MPL), and a Calamity Loan (CL) for areas under a state of calamity. “Pag-IBIG cash loans are paid over the course of 24 months. By choosing the longer payment period, members can enjoy significantly lower monthly payments,” Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy Moti said. With the average cash loan amounting to P20,000, members pay P1,016.52 per month for a Multi-Purpose Loan and P897.23 per month for a calamity loan under a two-year payment term. However, with the new three-year payment term option, the amount of each monthly payment will be reduced to only P734.57 a month for a Multi-Purpose Loan, and P615.72 monthly for a calamity loan.

Source: Philippine Daily Inquirer September 18, 2021 06:44 UTC