As far as I can remember, I applied for my first salary or Multi-Purpose Pag-IBIG loan by the time I was qualified. So, I've gone through getting Pag-ibig salary loan process and requirements to get approved for a Pag-IBIG loan. This post aims to help those who do not have any idea where to start.

What is a Pag-IBIG salary loan? 

According to their website, a Multi-Purpose Pag-IBIG loan is available for all the members of the fund. The loan can be used for different personal activities and needs such the following:

• Home improvements and renovations 
• Vacation expenses
• Educational expenses for you or your family 
• For health and wellness

What are the requirements for a Pag-IBIG salary loan?

1. Membership - you must be a member of the fund, regardless if you are still a student or an employee.

2. Contribution - the salary loan is only available to members how had contributed an accumulated amount of P4,800. This is also equivalent to a two-year or 24 months continuous contribution.

3. Contribution before loan application - the member must also have made a one-month contribution within the previous six months before his or her loan application.

4. Default accounts - these types of accounts are not eligible for the Pag-IBIG salary loan. These include those who have default housing, existing MPL, or calamity loans. 

5. Consolidated accounts - for those who have transferred to a new work/company, make sure to consolidate your accounts first. 

6. Proof of income - payslip for a full month bearing the business name of the employer, address, and issuing officer. 

7. Valid IDs - you must also bring a photocopy of two valid IDs which are accepted by the fund. Pag-IBIG salary loan applicants must bring two of the following IDs and photocopies of these IDs:

• SSS ID/GSIS E-card
• NBI Clearance
• Company ID
• Postal ID
• Driver's License
• Voter's ID
• PhilHealth Card
• Pag-IBIG Card
• Senior Citizen's Card

8. Pag-IBIG loan form - Once you’re done with the requirements above, print the Multi-Purpose Loan form. Make sure to print the latest form to avoid issues once you file for a loan. 

9. Co-Maker’s signature - This is one of the most overlooked parts of those who are applying for a loan, so make sure you will not make the same mistake. 

On the form, find “PROMISSORY NOTE” and at the bottom of this area locate "Witnesses." Do not forget to let two people, either an officemate or a relative, with a different surname with yours, as witnesses, please see image below.




10. Certificate of Net Pay Details - Even if you have your payslips with you, let your HR fill out the “CERTIFICATE OF NET PAY” at the back of your form. 

11. Old bank or cash card - Please bring your old bank card, either CitiBank or Landbank card because you have to surrender this to Pag-IBIG in exchange for the new bank card with EMV chip. 

How much can I loan in Pag-IBIG salary loan?

The loanable amount depends on your contribution or the Total Accumulated Value (TAV). Specifically:

• 24 -59 months contributions - You can loan 60% of your TAV
• 60-119 months contributions - You can loan up to 70% of your TAV
• 60 - 119 months of contribution - You can loan up to 80% of your TAV

What is the monthly Pagibig salary loan interest rate?

The interest rate on your loan is 10.75% of the total loanable amount. The interest is calculated per annum which is then divided into 24 months. 

How does Pag ibig salary loan payment works?

For employed individuals, the payment for your loan will be automatically deducted by your employer from your salary.

For self-employed individuals, the payment for your loan can be done through the following:

• Payments can be made directly to Pagibig office or satellite offices.
• Banks, selected stores, and bayad centers also receive payments for both loans and contributions. 
• You can also pay online on their website which is the Online Payment Facility.

Now that you have completed all the requirements to apply for a Multi-Purpose Loan or Pagibig salary loan, you’re now ready to get to the steps on how to apply for a loan.

1. Bring all the requirements listed above and do not forget to photocopy your IDs, back and front.
2. Once you arrive at the Pag-IBIG office, get your priority number from the guard and wait for your number to be called.
3. Present all the papers and requirements needed once you’re called for your application.
4. Once approved, the Pag-IBIG personnel will get your old bank and change it with the new Citibank EMV cash card. For first time applicants, you will be provided with a new cash card. Instruction on how to activate your cash card is discussed below.
5. Your loan will be available within 3 - 7 banking days. In my experience, my loan was credited to my cash card after 3 working days. 

How do I activate my Citibank EMV prepaid card from Pag-IBIG?

The Pag-IBIG personnel will provide a guide on how to activate your cash card, which is often the following:

1. Prepare your card before calling to activate it.
2. Call the number provided by the Pag-IBIG personnel. The number varies per region, so make sure to keep or save your copy. 
3. An AVR will answer your call. You will then be prompted to enter your birthday in the following order: Day - Month - Full Year (Example: 31121990)
4. Once validated, you will then be prompted to enter your new PIN. Make sure your PIN does not contain your birthday.
5. You will hear an AVR confirm that you have successfully changed your pin. 
6. For more details, questions, and inquiries regarding your activation, you can email ask.prepaid@citibank.com here.

Comment below and let me know if this is helpful or if you want to add more details to help others!