Pag-IBIG Fund posts growth in savings, housing loans

Pag-IBIG Fund reported higher savings and loans in the first three quarters of 2024, the agency announced Tuesday.

The state-run home financing agency said it had more than 16.37 million active members as of the third quarter, who collectively saved P98.72 billion. Of this amount, P49.27 billion came from the mandatory Regular Savings program and P48.86 billion from the voluntary MP2 savings.

Pag-IBIG Fund also assisted more than 2.5 million members in need of immediate short-term cash financing, approving Multi-Purpose Loan applications of more than two million borrowers amounting to a total of P49.72 billion. This represented a 16% increase in both the number of borrowers and the total loan amount compared to the same period last year.

Nearly 461,000 victims affected by various calamities this year were also assisted with the release of P5.92 billion in Pag-IBIG calamity loans.

Pag-IBIG Fund also approved the implementation of a one-month moratorium for housing loan payments of affected borrowers residing and working in areas declared under a state of calamity due to Typhoon Kristine.

The agency also released P88.17 billion to 61,597 housing loan borrowers who needed funds to purchase or improve their homes. Pag-IBIG housing loans allow borrowers to access financing of up to P6 million at interest rates as low as 3% for socialized and low-cost housing.

Pag-IBIG Fund also remained active in the promotion of the government’s Pambansang Pabahay para sa Pamilyang Pilipino Housing (4PH) Program. As of September 2024, the agency released P20.17 billion for the development of various 4PH projects nationwide, benefiting 17,791 low-income borrowers.

“Our accomplishments this year underscore our dedication to serving the financial needs of Filipinos across the country,” said Pag-IBIG Fund CEO Marilene Acosta. “After all, our members are the true owners of the Fund. It is just proper that they know how their savings are used and how effectively managing Pag-IBIG’s finances will result to their benefit through dividends and returns on their savings.”

Pag-IBIG Fund’s participation in the Philippine Information Agency’s Kapihan sa Bagong Pilipinas is part of its commitment to transparency and stakeholder engagement.