When you get your first occupation, your boss will hand you records that will enable you to select with PhilHealth, SSS, and Pag-IBIG. While PhilHealth is your fundamental therapeutic protection supplier, and the SSS recognizes you as a private worker (nearby your Tax Identification Number from the BIR), the Pag-IBIG Fund is your door to money related help from the administration.
One of the upsides of being a Pag-IBIG part is that you can apply for a Pag-IBIG Salary Loan. “Pay Loan” in reference to the way that the sum you can obtain is subject to your Pag-IBIG commitments.
Intrigued to apply for a Pag-IBIG Salary Loan even when you feel bad after using the loan calculator in the Philippines? Here’s a speedy guide Pag-IBIG pay credit application control for you:
Pag-IBIG Salary Loan Eligibility
To fit the bill for a Pag-IBIG Salary Loan, Pag-IBIG Fund individuals need to achieve the accompanying:
- Have an aggregate Pag-IBIG Fund investment funds of PHP 4,800 or if nothing else twenty-four (24) month to month Membership Savings (MS)
- Have made somewhere around one (1) MS inside the last six (6) months, as of month preceding date of credit application
- Submission of adequate confirmation of pay
Note that Pag-IBIG individuals with a current Pag-IBIG Housing Loan or Pag-IBIG Calamity Loan must not have a default account in the date of utilization.
Instructions to Compute Pag-IBIG Salary Loan Amount
Computations are made by the person’s participation term increased by his/her month to month commitment. From that point, a 60% credit factor is connected.
For instance, a person who has been a Pag-IBIG part for two years can just credit PHP 2,880. (two years’ x 200 month to month commitment ÷ .60)
The sum you can credit ascends as your month to month commitments increment, thus does the advance factor. A representative who has influenced commitments for 120 months or more to can apply for a new line of credit at an 80% factor.
Pag-IBIG Salary Loan Requirements
The following are the necessities required in a Pag-IBIG Salary Loan application.
- Photocopies of two (2) legitimate photographs and two (2) signature-bearing IDs
- Latest payslips comparable to multi month’s wage
- An achieved Pag-IBIG Multi-Purpose Loan Application Form
You additionally should be a functioning Pag-IBIG part at the season of advance application, with something like five (5) month to month commitments for the last six (6) months. The application frame will require your boss’ data, so make sure to anchor the accompanying information too:
- Signature of Office Head/or Authorized Representative
- Employer/Company Name
- SSS/GSIS No.
- Agency Code and Branch Code
When you have these, visit a Pag-IBIG branch close you and have your reports handled for endorsement.
You can likewise apply for credit reestablishment later on however it will require a half year of instalments towards your current advance in addition to the extraordinary offset together with any amassed intrigue. Punishments and charges will be deducted from the new sum you take out.
Pag-IBIG Salary Loan Term and Modes of Release
When you get endorsement for your Pag-IBIG Salary Loan application, you may browse any of the accompanying methods of advance discharge:
- Crediting to your payment card
- Check issuance
- Bank exchange through Landbank of the Philippines’ PACSVAL
Borrowers can pay their compensation advance over a most extreme time of two years with a beauty time of two (2) months.
Step by step instructions to Speed Up Your Pag-IBIG Salary Loan Application
Need money quick? To guarantee a quicker credit process, do the accompanying.
Unite the spots you’ve worked at through Pag-IBIG. This implies setting aside the opportunity to ask for the working environment solidification shape and ensuring that the office has a total record of your work history. In the event that you’ve worked in one general territory all through your vocation, your advance’s handling time could be sliced to as short as three days.
FPF400 permits Pag-IBIG individuals to exchange their participation records and advance subtleties, successfully merging all their data and making it less demanding for the office to process the advance.
You can get this frame online to submit to your closest Pag-IBIG branch alongside other advance necessities.
Pag-IBIG Salary Loan Payment
Paying your advance on time is imperative to maintain a strategic distance from obligation and high emergency loans in the Philippines fees.
Utilized individuals can pay for their advance through compensation reasoning while willful individuals or individual payers can pay over the counter and specifically in a Pag-IBIG office.
Obviously, you may encounter things distinctively relying upon where you apply for the credit. You may experience dissensions about postponements in preparing or different issues, for example, the property you plan on buying being dispossessed. In cases like these, the office suggests that you connect by means of their assistance work area, either by means of email (firstname.lastname@example.org) or via telephone through the (02) 724-4244 hotline.
One last imperative note is that a few branches might be open past 5 PM, (for example, the one in Pasig), yet recall that having every one of your prerequisites close by and about multi day to complete everything will be justified, despite all the trouble.