Pag-IBIG Fund cash loan application now online, execs say

In  a  move  to  ease  and  fast-track  loan  applications,  Pag-IBIG  Fund  has  improved  its online service portal to accept applications for its cash loan program.

According to top officials of the agency, several improvements were made to the Virtual Pag-IBIG during the quarantine period in the first half of the year to allow members to apply for a Multi-Purpose Loan (MPL) or a Calamity Loan, online.

“We heed the call of President Duterte to implement online systems to provide faster service to the public. The Virtual Pag-IBIG is one of the biggest projects undertaken by the Pag-IBIG Fund under his administration as we move as one towards the widespread use of e-governance to better serve the public, especially during extraordinary times such as these,” said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements  and  Urban  Development  (DHSUD)  and  the  11-member  Pag-IBIG  Fund Board of Trustees.

Launched  in  December  2019,  the  Virtual  Pag-IBIG  made  it  possible  for  members  to transact with the agency online, with a live chat function available 24/7. Since its launch, the Virtual Pag-IBIG has been visited by 2.43 million members, which include overseas Filipinos   from   over   222   countries,   who   were   able   to   secure   a   Pag-IBIG   Fund Membership  ID  (MID)  number,  enroll  for  an  MP2  Savings  account,  or  access  their savings and loan records online, without having to go to a Pag-IBIG Fund branch.  The Virtual Pag-IBIG also features an online payment facility that allows members to pay for their loans and remit their monthly savings using their PayMaya wallet or their credit cards.

On  June  1,  the  Virtual  Pag-IBIG  was  enhanced  to  accept  online  applications  for  the agency’s  MPL  and  Calamity  Loan.  Since  then,  the  agency  has  already  approved  over P188.6 million from loan applications received online.

According to Pag-IBIG Fund Chief Executive Officer Acmad Rizaldy P. Moti, cash loan applications are processed, on average, in less than two days if these are submitted via their online service platform. “The  Virtual  Pag-IBIG  is  game-changer  for  us.  While  nobody  was  ready  for  this pandemic, the launch of the Virtual Pag-IBIG late last year was timely because it allowed us   to   continue   serving   our   members   even   during   the   imposition   of   community quarantines. And, as we adapt to the new normal, we hope that our move to make cash loan  applications  available  via  the  Virtual  Pag-IBIG  would  allow  our  members  to experience faster transactions without leaving the safety of their own homes,” Moti said.