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PAGIBIG Multi Purpose Loan Application

Updated on May 23, 2015

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PAGIBIG means

Many of us is not aware what PAGIBIG means, it stands for PAGtutulungan sa kinabukasan, Ikaw, Banko, Industriya at Gobyerno (Helping for the Future, You, Bank, Industry and Government). At this sector of our Government, people who wants to be a member is paying for monthly contribution raging base on their monthly income, and this save funds, members enable them to use it to avail a low cost housing which are not available in common market. Beside on a low cost housing, members are eligible for a Multi Purpose Loan or MPL which is a cash loan needed for the purpose like house improvement, educational expense, or purchase of house appliance. And many members is maximizing this benefit, I myself availed it for the past 3 years.

MPL Form Image

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page 1 only | Source

Multi Purpose Loan or MPL

The MPL is a common benefit program that gives financial assistance to its member like what I said above. From PAGIBIG website this are the list on how you can be eligible to avail of this program:

New Loan

  1. With at least twenty-four (24) monthly contributions.
  2. An active member at the time of loan application, with at least five (5) monthly contributions for the last six (6) months.
  3. Member-applicant’s net take home pay shall not fall below the minimum requirement of the General Appropriations Act (GAA) or company policy, whichever is applicable.
  4. If with existing calamity loan, a member shall be allowed to avail of the MPL only after payment of at least six (6) monthly amortizations. The outstanding balance, together with any accrued interests, penalties and charges, shall be deducted from the proceeds of the MPL.

Loan Renewal

  1. With payment of at least six (6) monthly amortizations. The outstanding balance, together with any accumulated interests, penalties and charges, shall be deducted from the proceeds of the new loan.
  2. An active member at the time of loan application, with at least five (5) monthly contributions for the last six (6) months.
  3. Member-applicant’s net take home pay shall not fall below the minimum requirement of the General Appropriations Act (GAA) or company policy, whichever is applicable.

Land Bank Cash Card Application Form

Front Page
Front Page | Source
Back Page
Back Page | Source

Basic Requirement

Once you are eligible to avail of MPL, you need to accomplish the complete requirement before you go to your PAGIBIG Branch of Account to submit your application. Here are the list:

  1. Multi-Purpose Loan Application Form (MPLAF, [HQP-SLF-001) (Available at PAGIBIG Website click here.)
  2. Photocopy of at least two (2) valid IDs
  3. Proof of Income:
    • Formally-employed The “Certificate of Monthly Net Income” portion at the back of the application form must be accomplished by the employer or submit photocopy of latest payslip duly authenticated by company’s authorized representative.
    • Self-Employed or Individual Payors
    • Photocopy of any of the following:-Business/Mayors Permit; -Commission Vouchers; -Other valid proof of income
  4. For releasing of loan proceeds thru Cash Card, get your application at your PAGIBIG branch designated Customer Service Booth, there is LANDBANK Cash Card or CITI Card whichever is required by your Branch, then attach your photocopy of 2 IDs For individual application with existing ATM Card/Cash Card (same with above said Bank)shall be presented for authentication.

Time Spent on your Application

When I decided to go and file my application, I traveled for an hour and a half due to traffic, and my office is long way from the PAGIBIG Branch where I'm registered, well that's because our head office is at Pasay City but my office is at Quezon City. So it was too far to travel. Anyway, so I've got there at around 3pm and upon asking the security guard in charge I ask where should I go and submit my application, he just pinpoint the screening room where people are gathered, so I thought "aahh.. there was a screening". That's what I though, but it was not, people gathered there to fall in line while seating and waiting for the another security guard to call the persons in line to relocate and fall in line again in front of the desk of in charge PAGIBIG officers who will process the application, in short, my waiting in line is about 2 and half hours. Then, at around 5.45pm I was successfully assisted and right on that moment they've release my LandBank Cash Card, and said that processing time is about 2 days, just wait for any advice thru text if your application is approve and credited on your card.

That's it! hope that I've shared my own experience on how you will successfully file your application just like mine. Good luck!

PAGIBIG Pasay

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