Pag-ibig Multipurpose Loan Calculator

PAG-IBIG is a online fund loan organization of Philippine country under the control of local government that are intended to provide the funds to people for their needs to be accomplished. This organization works in two way method, first is people are saving their money by opening their accounts in the institute.

After becoming members of this organization people put their money in it and after some time they are qualified to attain the funds for their required particular purposes and the second method is applying for loans without having saving account. In this method two types of people fall one are employs they could be local or foreign in other countries but taking loans or fund to fulfill the needs. The second type of people is developers that could within country or in other country.

There are different types of loans like

  • House loan
  • Multi-purpose loan
  • Calamity loans

This organization is renowned for the house loan funds. People are more interested to taking funds for their houses like owning land, constructions of housing, renovations, restructure the shape their houses, decoration of houses and so on purposes like that. Second type of loan is multi-purposes loan funds that is going to be discussed here in detail

Multi-purposes loan features

  • This is a cash based fund that is given to the client or member of PAG-IBIG to fulfill the immediate need. There are certain qualifications that need to be execute before you can have the loan amount that must be considered like
  • For the members, the payment of the 24 months should be saved in the organization so members are able to have money on behalf of that money.
  • They member should be active means save money that is certain amount of their income regularly at least by saving money monthly prior the member apply for the loan funds that is very essential point for attain the fund from PAG-IBIG.
  • For the taking money, the member should submit their income proofs and the account should not be in any default condition.

Utility of multi-purpose loan

This is very important step that need to understand which purposes for the members can apply for the multi-purpose loan fun loan so here we are going to help the members to identify the needs like,

PAG-IBIG Affordability Calculator

  • Medical expenditures
  • Home minor renovation
  • For small business startup
  • Educational expenses
  • Buy household things, appliances and gadget.
  • Payment of utility bills, credit card to banks
  • Traveling expenses
  • Buying cars and so on

Now here we will have look at the percentage of the amount can a member have in the form of loan. Members can be eligible to have 80% of their savings in the organization which means if you save a handsome amount of money on the monthly basis so you may able to have higher amount in return in form of loan funds.

Interest rate

When you apply for loan you need to pay certain amount in form of interest and when you save your money in this organization you will be able to have funds at least interest rate which is not possible to have for people who taking loan from other banks. PAG-IBIG organization loan fund offers 10.5% interest rate which is commendable for the organization.

When you get the funds and able to accomplish the need so there is certain time period so you have to pay the amount back to the organizations within 36 months. Members can also have the option to return it within 2 years according to their ease. The amount of the loan could be deducted from the salary of the members or you can deposit it by yourselves.The next thing thing that arises in the mind is after when will a member able to have loan next time. After paying next six monthly payments in your account members will be able to have loan of particular amount form the institute.

So as conclusion we can say in this trying time the PAG-IBIG organization serving the people at level in their country and covers every sectors of life which is remarkable and playing beacon of hope for the lower level employs to satisfy their needs easily.


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