The Pag-IBIG Fund has upgraded its Multi-Purpose Loan (MPL) program, allowing members to borrow more, qualify sooner, and enjoy added repayment flexibility—moves aimed at better addressing the financial needs of Filipino workers.
Under the enhanced MPL, members can now borrow up to 90% of their total Pag-IBIG Regular Savings, up from the previous 80%.
The increased entitlement means members with higher savings can now access larger loans, the Pag-IBIG Fund said.
The changes also apply to other short-term loan programs, including the Health and Education Loan Programs (HELPS) and the Calamity Loan.
Eligibility has also been relaxed.
Members are now qualified to apply after just 12 months of savings contributions, instead of the previous 24-month requirement. Those with existing loans under older terms may apply for additional loans if they qualify under the new guidelines. The improvements take effect on May 16.
The revised MPL also introduces a new one-year repayment option, in addition to the existing two- and three-year terms, offering members more flexibility in managing their repayments.
Pag-IBIG Fund CEOMarilene C. Acosta said that amid these enhancements, the loan remains affordable, with a competitive monthly interest rate of only 1.4583%.
Additionally, the majority of the interest earned from MPL repayments is returned to members as dividends, further benefiting them.
A significant portion of the interest collected is returned to members as dividends.
In 2024, Pag-IBIG Fund disbursed a record-high P70.3 billion in cash loans to more than 3.2 million members. For 2025, the agency projects loan releases will reach P95.3 billion, assisting an estimated 3.6 million members.
Pag-IBIG Fund officials said the improvements align with the government’s push to make financial services more accessible and responsive to the everyday needs of Filipino workers—from medical expenses and tuition to small business capital and home improvements.