Pag-IBIG improves cash loan programs amid health crisis

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Eduardo del Rosario, Secretary of the Department of Human Settlements and Urban Development (DHSUD) and Chairman of the Board of the Pag-IBIG Fund. (File photo)

MANILA – Filipinos can expect faster processing of cash loan applications through the Mutual Domestic Development Fund’s enhanced online service portal (Pag-IBIG Fund).

The Secretary of the Department of Human Settlements and Urban Development (DHSUD), Eduardo del Rosario, said on Friday that several improvements have been made to strengthen the virtual services of the Pag-IBIG Fund during the quarantine period to speed up requests for loan of members.

“We are responding to the president’s call [Rodrigo] Duterte to set up online systems to provide faster service to the public, ”said del Rosario, also chairman of the board of the Pag-IBIG Fund, in a statement.

Pag-IBIG Fund members can apply for the Multi-Purpose Loan (MPL) or Disaster Loan through an online service called “Virtual Pag-IBIG,” del Rosario said.

“The virtual Pag-IBIG is one of the largest projects undertaken by the Pag-IBIG Fund under its [Duterte] administration as we move together towards the widespread use of e-governance to better serve the public, especially during extraordinary times, ”he added.

The virtual Pag-IBIG is operational 24/7 and provides live chat services for more queries and concerns of its members.

Members can access the portal only with a secure Pag-IBIG Fund (MID) member identification number provided to them. It has an online payment facility that allows members to pay their loans and pay their monthly savings through the “PayMaya” wallet or credit cards.

Through the online services, members can subscribe to an MP2 Savings Account, a voluntary savings platform for Pag-IBIG Fund members who want to save more and earn high dividends. They can also access their savings account anytime and anywhere through the use of the internet.

With the more enhanced virtual Pag-IBIG, members can access their loan records without visiting any branch of the Pag-IBIG Fund, del Rosario, which promotes the public by adhering to government health protocols and preventive measures against Covid-19.

Del Rosario said improving the Pag-IBIG Fund’s online services would be helpful to its members hard hit by the coronavirus pandemic in the country.

The virtual Pag-IBIG was developed and launched in December 2019 and was further improved during the health crisis.

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 188.6 million pesos of claims. of loans received online, “said del Rosario.

Meanwhile, Acmad Rizaldy Moti, CEO of the Pag-IBIG Fund, said that cash loan applications can be processed in “less than two days” on average if the required documents are fully submitted through the service platform. online fund.

“This virtual Pag-IBIG is a game-changer for us. While no one was ready for this pandemic, the launch of the 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, “Moti said.” As we adjust to the new normal, we hope that our decision to make cash loan requests available through the Virtual Pag-IBIG will enable our members to experience faster transactions without leaving the security of their own homes. (ANP)


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