PAG IBIG Salary Loan Calculator

Looking to apply for a PAG-IBIG Salary Loan but want to know how much you can borrow and what your repayments will be. Our PAG IBIG Salary Loan Calculator can help! Simply enter your desired loan amount, term, and interest rate to get an instant estimate of your monthly repayments. With this tool, you can make informed decisions about your finances and plan your budget accordingly. Try it now and see how much you can save!

What calculation would you like to perform?
Desired Loan Amount:
Gross Monthly Income:
Estimated Value of Property:
Preferred Repayment Period: Desired Fixed Rate Term:

The income required for your desired loan amount is approximately:  
Additional estimated amounts:
Principal & Interest:
Insurance:
Monthly Amortization:
Estimated Equity:
Gross Monthly Income:
Note: Other fees not yet included.
Please be reminded that:
  • The interest rates are valid starting 2023, and are subject to change without prior notice.
  • The outcome produced by this calculator is solely for informational purposes and is NOT considered official.
  • The actual amount available for borrowing may differ based on the assessment and review of Pag-IBIG Fund.
  • The preferred fixed pricing duration is the length of time you want to keep your selected rate secure.
  • Specific terms and conditions are applicable.

PAG IBIG has precisely guided how borrowers can calculate the salary loan. You may know PAG IBIG funding agency is the national savings program that brings Multi-Purpose Salary Loans for qualified borrowers. However, salary loan calculation is essential to know for those borrowers.  

You must recall that PAG IBIG is established for housing loans mainly. Later we expanded it for further purposes, including various short-term, multi-purpose salary and calamity loans. Thus, you must know for what purposes it’s offering the loans.

Purpose of PAG IBIG loan

  • Home Renovation
  • Business Development
  • Capital of minor businesses management
  • Salary loan assessment
  • Debt consolidation
  • Educational fulfillments
  • Bills payment
PAG IBIG Salary Loan Calculator with monthly interest rate

PAG IBIG Eligibility Criteria for a Salary Loan

Do you want to qualify for a salary loan from the PAG agency? Absolutely yes, then must know the eligibility things for this achievement:

  • The borrower must need to exhibit at least one membership savings of PAG IBIG within the last 6 months. It would be one month before submitting your loan application.
  • Your 24 months’ worth of contributions is completed. It’s also acceptable if you’ve completed a membership saving plan of at least P4,800 amount with PAG IBIG.
  • Until your salary loan application date, if your existing loan pact is in good credit standing. It’s a golden point for your salary loan acceptance. As your existing loan isn’t in default.
  • Your salary loan letter must contain sufficient income proof.
  • After evaluating your existing good credentials, you can accept your Calamity Loan or Salary Loan for Multi-Purpose.
PAG IBIG Eligibility Criteria for a Salary Loan

CHECK ALSO: Pag ibig Loan Calculator

Requirements for PAG IBIG Salary Loan

PAG IBIG Salary Loan Calculator

For your quick salary loan approval, accomplish these necessary documents first;

  • Borrower’s valid ID (2) photocopies
  • The latest slip in income source

For self-employed Borrowers:

  • Any of the Business Mayor’s permit slips, valid income proof, or commission vouchers and their photocopies are acceptable.

For Employed borrowers:

  • GSIS or SSS verified number
  • Certificate of your net income for the recent month. You can attach the one-month payslip photocopy with your application as well.
  • Your favorite or connected PAG IBIG employer’s ID 
  • Employer’s signature on the MPLAF
  • Branch Code of PAG IBIG agency which you have selected.

PAG IBIG Total Salary Loan Amount Calculation

Hence, once you’re applying for a PAG-IBIG loan, your loanable amounts entirely depend on your TAV. This total accumulation value is closely related to your income source and salary.

Though your contributed total amount is multiplied by to loan amount according to this official percentage:

Monthly Contributions TAV
24 – 59 monthsMore than 60%
60 – 119 monthsMore than 70%
120 months at leastMore than 80%

If your per month contribution is Php200.00. Then you can calculate how much amount you can get for this Salary Loan:

  • Examine your whole contributed monthly amount to PAG IBIG
  • Then multiply your total monthly amount by Php 200.00
  • Check the percentage table on which category your total contribution is falling
  • Achieve your TAV according to our official percentage of salary loan

Let’s suppose: you are going to contribute for 35 months

Now, 35 months × Php 200 = Php 7,000

Php 7,000 × 60% = Php 4,200.00

Well, you can get your interest rate for a Salary loan per year. Fortunately, with your significant role in establishing this loan agency, we are bringing the lowest-rated loan throughout the country. Notably, our applicants have to pay an equal loan amount within their selected time duration. 

Computation of  PAG Salary Loan

Therefore, as PAG IBIG is a government entity. So we have made things easy for our applicants. You don’t always need to calculate your amounts manually.

Here is the Salary loan calculator of PAG IBIG for your quick calculations. It will thoroughly assist you in getting your percentage and guide you about your total payments.

Salary Loan application

  • Applicants must check the fundamental requirements and eligibility scenario of PAG IBIG. Then fill up the ‘PAG IBIG Multiple purpose loan-Application form’-MPLAF.
  • The borrower must be active and appear on the PAG counter while applying for a Salary loan. He must have the contribution post of at least 5 months for the last 6 months.
  • Prepare your documents and fill up the application slip at your nearest branch. This official branch issues the prepaid Citi card for PAG membership. On your card, you will get your Salary loan credits.

The notable point is if the applicant is doing some job and visiting various cities continuously without any confirmed destination. PAG IBIG will never issue the loan letter or restrict the collaboration. It’s because the PAG organization works on the entire verification of your salary sources along with our personal details and destination. Though, the organization is not centralized for such different monthly contributing places.

Process after filling out the Salary Loan Application 

Your Salary loan application will be accepted, and your loan will be issued as quick as flash. You may visit our official counter if you have not received your calculated amount after 23 working days.

Furthermore, your monthly Salary loan payment amount is automatically deducted from your registered Salary. It will be according to your chosen repayment method. Thus, a bank arrangement slip, PAG salary Loan fee, and verified documents are required for self-employing members. 

Salary Loan Application 

FAQs

How do you calculate the loanable Salary amount of PAG IBIG?

PAG IBIG offers 80% of the applicant’s total loan amount. From your PAG savings, your amount will consist of your monthly contribution, official monthly percentage, and TAV. 

Which amount does PAG IBIG offer you for your Salary loan?

You are applying for your Salary loan of about Php 1,250,000 to Php 6,000,000. PAG delivers 80% of this total amount. You can calculate your total Salary loan using the PAG IBIG official Calculator.

Is the salary loan accessible for all the applications in the Philippines?

PAG IBIG provides all citizens with loans for houses, multi-purposes, calamity, and short-term or long-term loans. The applicants need to comply with the eligibility criteria of this funding organization. So it’s accessible for all Government employed, self-employed, OFWs, and other workers. Hence, you have the PAG membership cards and can apply for the Salary loan.

Conclusion

PAG IBIG Funding organization gives the Salary loan amount to borrowers. However, you can get a multi-purpose Salary loan and fulfill your immediate financial needs. You have the Salary loan calculator that computes your required payment. If you’re a novice and applying for your initial loan, it’s an excellent pick for you to calculate your amount according to PAG’s official calculations. Get your PAG IBIG membership card and apply for the Salary loan. Ultimately enjoy your Salary loan now.

REF: https://www.yugatech.com/guides/how-to-apply-pag-ibig-salary-loan-online/

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