In order to facilitate and expedite loan applications, Pag-IBIG Fund has enhanced its online service portal to accept applications for its cash loan program.
According to senior agency officials, several enhancements were made to Virtual Pag-IBIG during the first half quarantine period to allow members to apply for a Multi-Purpose Loan (MPL) or Calamity Loan, online.
“We are responding to President Duterte’s call to put online systems in place to provide faster service to the public. The Virtual Pag-IBIG is one of the largest projects undertaken by the Pag-IBIG Fund under its administration as we together move towards the widespread use of e-governance to better serve the public, especially during extraordinary times. like these, ”said Secretary Eduardo D. del Rosario, who heads the Department of Human Settlements and Urban Development (DHSUD) and the 11 members of the Pag-IBIG Fund Board of Trustees.
Launched in December 2019, the Virtual Pag-IBIG enabled members to deal with the agency online, with a live chat feature available 24/7. Since its launch, the virtual Pag-IBIG has been visited by 2.43 million members, including overseas Filipinos from over 222 countries, who were able to obtain a Pag-IBIG Fund member identification number. (MID), register for an MP2 savings account, or access their savings and credit files online, without having to go to a Pag-IBIG Fund branch. The Virtual Pag-IBIG also has an online payment facility that allows members to pay off their loans and pay their monthly savings using their PayMaya wallet or 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 more than 188.6 million pesos of loan applications received online.
According to Pag-IBIG Fund CEO Acmad Rizaldy P. Moti, cash loan applications are processed, on average, in less than two days if submitted through their online service platform.
“The Virtual Pag-IBIG is a game-changer for us. While no one was ready for this pandemic, the launch of Virtual Pag-IBIG at the end of last year was timely as it allowed us to continue serving our members even during the imposition of community quarantines. And, as we adapt to the new standard, we hope that our decision to make cash loan requests available through the Virtual Pag-IBIG will allow our members to experience faster transactions without leaving the security of their own home, ”Moti said.