When going gets tough, whole populations are to acquire additional sources to overcome the troubles. It’s because business income can’t endure the tough lucks in the world and also in the Philippines. People come to government-organized schemes for emergency assistance. Regarding this, PAG-IBIG is a well-known loan-offering organization. Hence, various people join our agency for housing loans. Now we’re elaborating on our funding services. So, we’ve brought additional short-term (calamity, MPL, etc.) and long-term loans (housing loan, etc.).
CHECK: Pag-IBIG Multi-Purpose Loan Calculator
You can apply for your Multi-purposes loan MPL through PAG IBIG’s online platform. Thus, our online system is convenient, consequently safe, and always accessible for all members. It’s a quick way to acquire salary loans (MPL).
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Multi-Purpose Loan (MPL)
MPL is usually a salary loan that you can get in cash. The worth of this loan that you’re granted by quick cash that’s around 80% of your entire contribution. You just have to qualify for it and then apply for the loan. Furthermore, after your successful application process, you can claim your loan approval within two days. Overall, MPL is the quick loan to accomplish the process.
PAG IBIG offers the MPL for varying purposes, including:
Eligibility Criteria for MPL
Applying for a New or Renewal loan, PAG members must have the following:
Requirements to Apply for the Multi-Purpose Loan
There are some further IDs that can help you while applying for your MPL:
These documents can be used according to your residence or status. Whether you’re applying as self-employed, employed, or OFW.
Apply for your PAG IBIG MPL
Therefore, You can use the virtual or OTC ways to apply for your Multi-Purpose Loan. Here OTC; is the Over The Counter applying system.
Step #1: (OTC)
Step #2:
Step #3:
Once you’ve applied for your MPL loan. After your loan approval, you’ll be informed. You can fetch your payment in your appropriate way. Though the MPL proceeds can be delivered as follows:
Moreover, if you’ve accomplished your enrollment into the online PAG IBIG portal. You’re applicable for your MPL by filling out your MPL form. Remember that you must accomplish your Loyalty Card Plus. Eventually, the online loan application system will make your MPL access convenient.
Quick View of Virtual Process:
Membership Button > Apply for & Manage Loans > Apply for my Short Term Loan (STL) > MPLAF > Upload Documents & Fill out > Proceed > Validate MID Number > Contact number > Next > Loan Application First Verification is completed.
Now check your contact > Enter OTP > Proceed > Select Cash Card > Submit Information.
Ultimately, pandemic days have boosted the online loan application system. Now members conveniently complete their loan process online and secure their time.
Claim to PAG IBIG Multi-Purpose Loan
Once your MPL approval information has been released to you. You are qualified to select any of the modes for your loan:
Suppose you’re getting some serious reason. Here you may know about our pro tip to acquire your MPL as early as possible. Though, you can prepare your documents and work information. Then assign your queries to the PAG IBIG team and let them check your loan requirements. After evaluating your data, the PAG representative informs you if you’re eligible for your MPL achievement.
FAQs
What is the interest of MPL in the PAG IBIG agency?
Multi-Purpose loan meets a favorable rate of interest of about 10.5% per annum. Thus, a significant amount of payment is returned to you in the form of savings (dividends).
Can I apply for MPL using my virtual account of PAG IBIG?
Yes, borrowers are allowed to apply for MPL online using their virtual portals. So, you must ensure that you have verified your loyalty card plus and then apply for your loan.
How much payment may I receive in the first pack of MPL from PAG IBIG?
Loan contributors have a great chance to obtain the 80% of their entire regular savings from PAG IBIG. Hence, you can compute your loan payment as; a Multiply monthly contribution to MID terms. After that, apply the 80% factor to your saving result. You may receive your actual MPL payment for the first time.
Conclusion
The multi-purpose loan of PAG IBIG is an extraordinary source of financial support for Filipinos. You can accomplish your goals and emergencies. So, for applying for your loan, check the eligibility criteria first. Then complete the required documents and apply on a virtual account or OTC. Fortunately, loan members are capable of renewing their loans as well.
