PAG- IBIG
BY: JESSA ANNE R. BORRE
BSN-III
What is Pag-IBIG FUND?
Pag tutulungan sa Kinabukasan
I
Ikaw
B Bangko
I
Industriya
G Gobyerno
What is Republic Act 9679?
An Act further strengthening the Home Development
Mutual Fund, and for other purposes
Was approved into law by Pres. Gloria MacapagalArroyo on 21 July 2009
Increased the scope of power and function of the
Fund through the Board of Trustees who are
appointed by the President of the Philippines
Provided for the tax exemption status of the Fund
Increased scope of mandatory membership coverage
of the Fund
CORPORATE
1. Membership
Program
PROGRAMS
2. Provident Savings Program
3. Modified Pag-IBIG II Program
4. Lending Programs
4.1. Multi-Purpose Loan
4.2. Calamity Loan
4.3. Home Lending
4.4.1. Retail
4.4.2.
Institutional/Wholesale
MEMBERSHIP
Mandatory
Coverage and Membership of
PROGRAM
Employees
1. All employees compulsorily covered by the SSS
2. All employees subject to mandatory coverage by
the GSIS
3. Uniformed members of the Armed Forces of the
Philippines,
the Bureau of Fire Protection, the Bureau of Jail
Management
and Penology, and the Philippine National Police
4. Filipinos employed by foreign-based employers
MEMBERSHIP
Mandatory
Coverage of Employers
PROGRAM
1. Employers of employees compulsorily covered by
the SSS
2. Employers of employees subject of mandatory
coverage by the
GSIS
3. The Armed Forces of the Philippines, the Bureau of
Fire
Protection, the Bureau of Jail Management and
Penology, and
the Philippine National Police
MEMBERSHIP
VoluntaryPROGRAM
Coverage
1. Spouses who devote full time to managing household
and family
affairs;
2.
Filipino employees of foreign government or
international
organization, or their wholly-owned instrumentality
based in the
Philippines
3. Employees of an employer who is granted a waiver or
suspension
MEMBERSHIP
VoluntaryPROGRAM
Coverage
4. Leaders and members of religious groups
5. A member separated from employment, local or
abroad, or ceased
to be employed, but would like to continue paying
Pag-IBIG
contributions
6. Public officials or employees who are not covered by
the GSIS
such as barangay officials
7. Other earning groups as may be determined by the
SALIENT FEATURES OF THE SAVINGS PROGRA
Doubles/triples your money
Annual dividend earning
Portability of Savings
Return of Contributions
Government-guaranteed contributions
Tax-Free
Availment
term)
of loan programs (long and short-
EXISTING CONTRIBUTION RATES
(since 1986)
Monthly Compensation
P1,500 or less
More than 1,500
Contribution Rates
EE
ER
1%
2%
2%
2%
Maximum monthly compensation
P5,000.00
A member may be allowed to contribute more than what is required
should he or she desire. The employer, however, shall only be
mandated to contribute what is required unless he or she agrees to
match the members increased contribution.
GROUNDS FOR WITHDRAWAL OF SAVINGS
Upon the occurrence of any of the following contingencies,
Pag-IBIG Fund guarantees the refund of a members
accumulated savings, which consist of the members
accumulated contributions, the employer counterpart
contributions (if any) and the dividend earnings credited to
the members account:
Retirement (ages 45, 60, and 65)
Death
Permanent and total disability or insanity
Permanent departure from the country
Separation from the service due to health reason
GROUNDS FOR WITHDRAWAL OF SAVINGS
Membership Maturity (20 years or 240 months of
continuous contribution)
Optional Withdrawal
Other causes as may be approved by the Board
MULTI-PURPOSE LOAN (MPL) PROGRAM
Short-term financial which can be availed
Pag-IBIG
members for any of the following:
a) minor home improvement
b) livelihood
c) medical
d) educational
e) purchase of appliance and furniture
f) other needs
by
LOAN AMOUNT
An eligible borrower's loan entitlement
shall
depend
on
the
number
of
contributions made, based on the following
schedule:
No. of Contributions
Loan Amount
24-59 months
Up to 60% of TAV
60-119 months
Up to 70% of TAV
At Least 120 months
Up to 80% of TAV
INTEREST RATE
10.75% per annum for the duration of the loan.
LOAN TERM
Maximum period of twenty-four (24) months with
grace
period of 2
months for local accounts and 5 months for
centralized accounts.
LOAN RELEASE
Check
LBP Account
LBP Cash Card (in the pipeline)
Citibank Cash Card (in the pipeline)
LOAN PAYMENT
1. Salary deduction for employed members
2. Over-the-counter at Pag-IBIG Branches, for
voluntary members
3. Auto-debit
arrangements with banks
4. Collecting Agents (IRemit, Ventaja, Philippine
National Bank,
Asian United Bank, and Metro Bank)
5. Pag-IBIG Posts (in selected Middle East countries)
PIOG SATELLITE OFFICE
Asia-Pacific
East
Europe
Middle
1. Singapore
Dhabi
2. Hongkong
3. Brunei
4. Taiwan
5. Korea
6. Rome
11. Abu
7. Milan
8. Athens
9. Madrid
10. London
13.
14.
16.
17.
18.
12. Dubai
Kuwait
Qatar
15. Riyadh
Jeddah
Alkhobar
Bahrain
PENALTY RATE
% of any unpaid amount for every month of
delay.
For borrowers paying their loans through
automatic salary deduction, penalties shall be
cancelled/reversed only upon presentation of
proof that non-payment was due to the fault of
the employer. The said penalties shall then be
charged against the employer.
LOAN RENEWAL
Payment of at least six (6) amortizations
Borrowers Eligibility
Member must have made at least 24 monthly
contributions
With active Fund membership at the time of
application with the commitment from both the
employee and employer to continuously remit
contributions at least for the term of the loan.
CALAMITY LOAN PROGRAM
80% of members total contributions
Resident of a declared calamitystricken
area
10.75%
interest rate
payable in 2 years
WHAT IS THE MODIFIED PAG-IBIG II PROGRAM?
A voluntary savings program for Pag-IBIG members
Open to all Pag-IBIG I members and OFWs with a
Monthly gross income exceeding Php5,000.00
Rate of contribution : Php500.00
Term : five (5) years
Savings are entitled to a preferential dividend rate
Higher than that of Pag-IBIG I.
* Dividend Rate is 6%
HOME LENDING
PROGRAMS
Lowest Interest Rate
Highest Loan to Collateral Ratio
Longest Loan Term
LOAN PURPOSE
The Pag-IBIG housing loan may be used to finance any of the following:
Purchase of a fully developed lot
Purchase of a residential house and lot, townhouse or
condominium unit;
Construction or completion of a residential unit on a
lot owned by the member;
Home improvement;
Refinancing of an existing loan; and
Combination of loan purposes
BORROWERS ELIGIBILITY
Must be a Pag-IBIG member for at least 24 months
Not more than 70 years old at loan maturity and must be
insurable
Has the legal capacity to acquire and encumber real property
Has passed satisfactory background/credit and employment
business
checks of the developer and Pag-IBIG Fund
Has no outstanding Pag-IBIG loan, either as principal borrower or
coborrower
Had no Pag-IBIG housing loan that was foreclosed, cancelled,
bought
back or subjected to Dacion En Pago
3M
LOAN AMOUNT
Maximum of P3M, which shall be based on
the lowest of the following:
1. capacity to pay (40% of
NDI*)
2. Actual need
1M
2M
3. Loan-to-collateral Ratio
* Net Disposable Income
4. Contribution
LOAN ENTITLEMENT BASED ON CONTRIBUTION
MONTHLY
CONTRIBUTION
LOAN ENTITLEMENT
(Effective April, 2009)
MONTHLY
CONTRIBUTION
LOAN ENTITLEMENT
(Effective April, 2009)
200
500T
850
1.7M - 1.8M
250
500T - 600T
900
1.8M - 1.9M
300
600T - 700T
950
1.9M - 2.0M
350
700T - 800T
1,000
2.0M - 2.1M
400
800T - 900T
1,050
2.1M - 2.2M
450
900T - 1.0M
1,100
2.2M - 2.3M
500
1.0M - 1.1M
1,150
2.3M - 2.4M
550
1.1M - 1.2M
1,200
2.4M - 2.5M
600
1.2M - 1.3M
1,250
2.5M - 2.6M
650
1.3M - 1.4M
1,300
2.6M - 2.7M
700
1.4M - 1.5M
1,350
2.7M - 2.8M
750
1.5M - 1.6M
1,400
2.8M - 2.9M
800
1.6M - 1.7M
1,450
2.9M - 3.0M
SAMPLE COMPUTATION
LOAN
INTERES
T
MONTHLY
REQUIRED
NDI
PACKAGE
RATE
AMORTIZATIO
N
(Amort / 40%)
P400K
6%
P2,398.20
P5,995.51
P750K
7%
P4,989.77
P12,474.42
P1.0M
8.5%
P7,689.13
P19,222.84
P1.5M
10.5%
P13,721.09
P34,302.72
P2.0M
10.5%
P18,294.79
P45,736.96
P2.5M
11.5%
P24,757.29
P61,893.21
P3.0M
11.5%
P29,708.74
P74,271.86
LOAN TERM
Loan Amount
Up to P3M
Term
Up to 30 yrs
HOUSING LOAN APPLICATION PROCESS
1. SUBMIT COMPLETE
APPLICATION DOCUMENTS
2. CLAIM NOA/LOG
(Notice of Approval/Letter of Guaranty)
3. SUBMIT DOCUMENTS FOR
CHECK PROCESSING
5. PAY THE MONTHLY
AMORTIZATION
4. LOAN RELEASE/TAKE-OUT
Our Contact Details:
Servicing Department
JELP Business Solutions Center
409 Shaw Boulevard
Mandaluyong City
Tel Nos. 724-4244 (PAGIBIG)
654-7230/654-9179
************************
6th Floor Justine Bldg. No 317
Sen. Gil Puyat Avenue
Makati City
Tel Nos. 812-4731 loc. 110
892-4382 / 894-2195
Fax No: 893-8874
Website: www.pagibigfund.gov.ph
THANK YOU!
