Pag-IBIG launches new loan program for members
THE Home Development Mutual Fund (Pag-IBIG Fund,) has launched an enhanced housing loan program giving as much as 90% of the value of a collateral to the borrower.
Huge Olarte, information officer of Pag-IBIG-Dagupan branch, said the new loan program gives members the highest value to its more than eight million members nationwide.
Pag-IBIG Fund already increased the ceiling of its housing loan package from P3 million to 6 million with an eight percent interest for loans amounting to P750,000 to P1 million.
Olarte, speaking during the weekly KBP Forum on Thursday, also clarified provisions of the agency’s multi-purpose loan (MPL).
MPL
He said the MPL covers “education, vacation and even depression loans”, but these are not offered separately and will be extended only if the set requirements are met by the borrower.
“The MPL could be availed of by the member regardless of the purpose o yung paggagamitan,” he said.
He said MPL does not require a processing fee and all the member has to pay is the principal plus the interests incurred during a specific period.
Pag-IBIG Fund will soon open a branch in Urdaneta City and will also set up service desks in the towns of Lingayen, Tayug, Rosales, Alaminos City and at the Robinsons Mall in Calasiao. (PIA-Pangasinan/VHS)
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