Pag-IBIG Salary Loan Eligibility

To qualify for a Pag-IBIG Salary Loan, Pag-IBIG Fund members need to accomplish the following:

 Have a total Pag-IBIG Fund savings of PHP 4,800 or at least twenty-four (24) monthly Membership Savings (MS)
 Have made at least one (1) MS within the last six (6) months, as of month prior to date of loan application
 Submission of sufficient proof of income

Pag-IBIG members with an existing Pag-IBIG Housing Loan or Pag-IBIG Calamity Loan must not have a default account in the date of application.

How to Compute Pag-IBIG Salary Loan Amount

Calculations are made according to the individual’s membership term multiplied by his/her monthly contribution. From there, a 60% loan factor is
applied. So for example, an individual who has been a Pag-IBIG member for 24 months can only loan PHP 2,880. (24 months x 200 monthly
contribution ÷ .60)

The amount you can loan rises as your monthly contributions increase, and so does the loan factor. An employee who has made contributions for
120 months or more can take out a loan at an 80% factor.

Pag-IBIG Salary Loan Requirements

You need to complete the following requirements before applying for a Pag-IBIG Salary Loan.

 Photocopies of two (2) valid photos and two (2) signature-bearing IDs
 Latest payslips equivalent to a month’s wage
 An accomplished Pag-IBIG Multi-Purpose Loan Application Form

You also need to be an active Pag-IBIG member at the time of loan application, with at least five (5) monthly contributions for the last six (6) months.
The application form will require your employer’s information, so be sure to secure the following data as well:

 Signature of Office Head/ or Authorized Representative

 Employer/Company Name
 SSS/GSIS No.
 Agency Code and Branch Code

When you have all of these, visit a Pag-IBIG branch near you and have your documents processed for approval.

You can also apply for loan renewal later on though it will require six months’ worth of payments towards your existing loan plus the outstanding
balance together with any accumulated interest. Penalties and charges will be deducted from the new amount you take out.

Pag-IBIG Salary Loan Term and Modes of Release

When you receive approval for your Pag-IBIG Salary Loan application, you may choose from any of the following modes of loan release:

 Crediting to your disbursement card

 Check issuance
 Bank transfer through Landbank of the Philippines’ PACSVAL

Borrowers can pay their salary loan over a maximum period of 24 months with a grace period of two (2) months.