Pag-IBIG Fund (Home Development Mutual Fund / HDMF) provides:
- Housing loans (best rates in PHL, up to ₱6M)
- Multi-purpose loans (any use)
- Calamity loans (during disasters)
- MP2 savings (high-interest savings programme)
Membership:
- Mandatory for all employed Filipinos
- Voluntary for self-employed + OFWs
- Minimum contribution: ₱200/month
- Higher contributions = larger loan eligibility + savings
Housing loan highlights:
- Interest rate: 5.625-9.375% (competitive vs banks)
- Up to ₱6M loan
- Up to 30 years
- Lower income brackets get better rates
What it means for you:
- Maintain regular contributions for max loan eligibility
- Best PHL housing loan if you qualify
- MP2 savings is significantly better than bank deposits (~6-7% returns)
- Contributions are involuntary if employed but voluntary additional contributions allowed
- Track via Virtual Pag-IBIG online portal