Here's are the benefits you can get from being a Pag-IBIG member.
The Pag-IBIG fund is known for its affordable housing loans. It allows members to get their dream house without having to pay hefty interest rates. However, did you know that there are other Pag-IBIG benefits you can claim? Here are the 7 Pag-IBIG Membership Benefits you should know, too!
RELATED: You Can Now Register as a Pag-IBIG Member Online!
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1. Pag-IBIG Savings Program
One of the many Pag-IBIG benefits you can get is a savings facility that serves as Pag-IBIG contribution benefits. This is where your monthly contributions go. If you’re an employed Pag-IBIG member, your monthly savings is immediately doubled. It will also grow with more dividends annually. You can earn more dividends by increasing your monthly Pag-IBIG contribution.
How to Claim Pag-IBIG Savings
You can withdraw your Pag-IBIG regular savings if any of the following occurs:
- Membership maturity after 20 years or 240 months of contribution
- Retirement at 60 years old (optional) or 65 years old (mandatory)
- Separation from service due to health reasons
- Total disability or insanity
- Permanent departure from the country
- Upon death, with legal heirs receiving the savings in addition to death benefit
- Critical illness of the member or their immediate family member
2. Pag-IBIG MP2 Program
The Pag-IBIG MP2 program is a voluntary savings facility for active or former Pag-IBIG members who wish to earn even higher annual dividends. You can enroll in this Pag-IBIG savings program even if you already have a regular Pag-IBIG savings membership. MP2 has a minimum savings amount of PHP 500.
Your Pag-IBIG mutual fund investment earns tax-free dividends at a rate higher than the dividend rate of the regular programs. These dividends are from 70% of the Pag-IBIG Fund’s annual net income.
How to Claim Pag-IBIG MP2 Earnings
You can receive Pag-IBIG MP2 earnings by:
- After its five-year maturity period with MP2 dividends compounded annually
- Through annual pay-out. Your dividends are credited to your savings or checking account enrolled in a Pag-IBIG accredited banks
3. Pag-IBIG Loyalty Card Plus
One of the many Pag-IBIG benefits you should know is the Pag-IBIG Loyalty Card Plus. Launched in 2014, the Pag-IBIG Loyalty Card program provides additional services and perks to its members. You can enjoy discounts and rewards in more than 300 Pag-IBIG partner establishments.
How to Apply for Pag-IBIG Loyalty Card Plus
Here are the steps to apply for a Pag-IBIG Loyalty Card Plus:
- Visit the nearest Pag-IBIG branch.
- Provide your membership number to be validated by a Pag-IBIG personnel.
- Fill out the application form and pay PHP 125 for the card fee.
- Have your picture taken and fingerprints scanned.
- Once all information is validated, you may claim your Loyalty Card Plus and PIN Mailer.
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4. Pag-IBIG Housing Loans
The agency is known to offer housing loans to its contributing members. Pag-IBIG, however, offers two housing loan programs—the Affordable Housing Loan (AHP) for Minimum Wage Earners and the End-User Home Financing Program (EUF).
Affordable Housing Loan (AHP)
- Loan amount: Up to PHP 750,000
- Interest rate: 3% per annum
End-User Home Financing Program (EUF)
- Loan amount: Up to PHP 6 million
- Interest rate: 5.5% per annum
Learn more about Pag-IBIG Housing Loans.
5. Pag-IBIG Salary Loan
Do you know that Pag-IBIG also offers a salary loan? Also known as the Pag-IBIG multi-purpose loan, this Pag-IBIG benefit is a short-term loan you can use to fund a home renovation, bills payments, tuition and many other loan purposes. You can borrow up to 80% of your total Pag-IBIG Savings, payable in 24 months.
Salary Loan Requirements:
- Must be an active member with at least 24 months of contribution
- Multi-Purpose Loan application form
- Two valid IDs
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6. Pag-IBIG Provident Benefits
As a contributing member, you can get your Pag-IBIG savings upon retirement at age 60 (optional) or 65 (mandatory). You can also claim for provident benefits if you’re at least 45 years old. However, your contributions must be equal to 20 years or 240 months to be eligible.
Provident Benefits Requirements:
- Must be between 45 to 65 years old
- At least 20 years or 240 months of contribution
- Provident Benefits (APB) Claim form
- Two valid IDs
- PSA birth certificate
- SSS or GSIS retirement voucher
- Notarized Certificate of Early Retirement (for private employees aged 45 to 65)
- Order of Retirement, Updated Statement of Service, and State of Last Payment (for Navy, Army, and AFP members)
7. Pag-IBIG Death Benefits
If you are a legal heir or beneficiary of a deceased Pag-IBIG member, you can claim for death benefits if the member did not claim their savings benefits when they were still alive. Pag-IBIG doesn’t offer funeral or burial benefits, unlike SSS, where death benefits and retirement benefits are separate.
Death Benefits Requirements:
- Death Certificate of member issued by PSA
- Notarized Proof of Surviving Legal Heirs
- Certificate of No Marriage (CENOMAR), if applicable
- Marriage Contract, if applicable
- Notarized Affidavit of Guardianship
- Other documents that may be required
Knowing about Pag-IBIG benefits can help you maximize your membership. Aside from a mortgage, you can get a calamity or multi-purpose loan from the agency. You may also get provident or retirement benefits if you’re at least 45 years old.