Our home country has not forgotten us and sends its PAG-IBIG to Filipinos all over the world!
Home Development Mutual Fund, otherwise known as PAG-IBIG (PAGtutulungan sa kinabukasan: Ikaw, Bangko, Industriya at Gobyerno) FUND is a Philippine government program that was created by virtue of Presidential Decree No. 1530 on June 11, 1978. Its main objective is to provide its members with adequate housing through an effective savings scheme. The Fund was created to address two of the nation’s basic concerns: (a) the generation of savings and (b) providing shelter for Filipino workers.
On January 2010, PAG-IBIG implemented a voluntary savings scheme for all Filipinos abroad who are immigrants and those naturalized in other countries based on the 2009 revised rules and guidelines. Click here for the PAG-IBIG FUND Implementing Rules and Guidelines of 2009. (Note that this program is different from the OFW Pag-Ibig I program that is mandatory for all Overseas Filipino Workers.)
The biggest benefit is that once registered as a PAG-IBIG member, one is qualified to apply for the Housing Loan Program.
Salient Features: The Pag-Ibig II program is solely a savings scheme, designed to provide Pag-IBIG I members with another savings option that would grant them with a yield higher than those given under the Pag-IBIG I membership program. The program took effect on 3 February 2010.
- Minimum contribution of Php 500.00 per month
- Term of 5 years, renewable
- Flexible dividend rates but always higher than Pag-IBIG I
- Contributions & earnings are Philippine-government guarranteed.
- A registered member can apply for a housing loan soon after the first few remittances.
|Monthly Contributions||5 Years||10 Years|