Multi-Purpose Loan Application Form

MULTI-PURPOSE LOAN (MPL) APPLICATION FORM

HQP-SLF-065 (V03, 05/2018)

To be filled out by applicant. Print this form back to back on one single sheet of paper. Type or Print Entries.

Pag-IBIG MID No./RTN Application No.

Last Name First Name Name Extension Middle Name Maiden Middle Name

Date of Birth Place of Birth

Mother's Maiden Name Nationality Sex Male Female

Marital Status Single Married Widower Annulled Legally Separated

Citizenship Email Address

Present Home Address

Cell Phone Number Home Tel. Number TIN SSS/GSIS No.

Permanent Home Address

Business Tel. Number Nature of Work Employee ID Number Desired Loan Amount

Employer/Business Name Date of Employment

Loan Purpose

Non-Housing Related

Livelihood/additional capital in small business
Tuition/Educational Expenses
Payment of utility/credit card bills
Purchase of appliance & furniture/electronic gadgets
Vacation/travel
Special events
Car repair
Health & wellness
Minor home improvement/home renovation/upgrades
Others, specify

Employer/Business Address

Previous Employment Details From Date of Pag-IBIG Membership (Use another sheet if necessary)

Employer/Business Name Employer/Business Address

From To

Application Agreement

In consideration of the loan that may be granted by virtue of this application subject to the pertinent provisions of the Implementing Rules and Regulations of Pag-IBIG Fund, I hereby waive my rights under R.A. No. 1405 and authorize Pag-IBIG Fund to verify/validate my payroll account/disbursement card. Furthermore, I hereby authorize my present employer, or any employer with whom I may get employed in the future, to deduct the monthly membership savings (MS) and monthly amortization due from my salary and remit the same to Pag-IBIG Fund.

If the resulting monthly net take home pay after deducting the computed monthly amortization on MPL falls below the monthly net take home pay as required under the GAA/company policy, I authorize Pag-IBIG Fund to compute for a lower loanable amount.

I understand that should I fail to pay the monthly amortization due, I shall be charged with a penalty of 1/20 of 1% of any unpaid amount for every day of delay.

If for any reason excess loan proceeds are erroneously credited to my payroll account/disbursement card, I hereby authorize Pag-IBIG Fund to debit/deduct the excess amount from my account without need of further notice of demand. Should my account balance be insufficient, the Fund has the right to demand for the excess amount to be refunded.

I authorize Pag-IBIG Fund to disclose, submit, share or exchange any of my account information to legal and government regulating agencies, other banks, merchant partners or third party in accordance with R.A. No. 9510 and other related or pertinent laws and regulations.

I certify that the information given and any or all statements made herein are true and correct to the best of my knowledge and belief. I hereby certify under pain of perjury that my signature appearing herein is genuine and authentic.

Promissory Note

For value received, I promise to pay on due date without need of demand to the order of Pag-IBIG Fund with principal office at Petron MegaPlaza, 358, Sen. Gil Puyat Avenue., City of Makati the sum of Pesos: (P ) Philippine Currency, with an interest at the rate of 10.5% per annum.

I hereby waive notice of demand for payment and agree that any legal action, which may arise in relation to this note, may be instituted in the proper court of Makati City.

I shall pay the amount of Pesos: (P ) through salary deduction, whenever feasible, over a maximum period of 24 months, with a grace period of 2 months.

Payments are due on or before the 15th day of the month starting on and 23 succeeding months thereafter.

A penalty of 1/20 of 1% of any unpaid amount shall be charged to me for every day of delay.

Signed in the presence of:

Authority to Deduct (Optional)

In case of retirement/separation from employment, I hereby authorize my employer to deduct any outstanding MPL balance from my retirement or separation benefits to fully settle my loan obligation. In the event that my retirement/separation benefit is not sufficient to settle the outstanding balance of my MPL or my employer fails for whatever reason, to deduct the same from said retirement/separation benefits, I hereby authorize Pag-IBIG Fund to apply whatever benefits are due me from the Fund to settle the said obligation.

Signature of Applicant

This Portion is for Pag-IBIG Fund Use Only

Received By Date Reviewed By Date Approved/Disapproved By Date

Guidelines and Instructions

A. Who May File

Any Pag-IBIG Fund member who satisfies the following requirements:

1. Has made at least 24 monthly membership savings (MS);

2. Has made at least one (1) MS within the last six (6) months prior to the date of loan application;

3. If with existing Pag-IBIG housing loan, the account must not be in default as of the date of application;

4. If with existing MPL and/or Calamity Loan, the account/s must not be in default as of date of application; and

5. Has sufficient proof of income.

B. How to File

1. Secure the Multi-Purpose Loan Application Form (MPLAF) from any Pag-IBIG Fund branch or download from Pag-IBIG website at www.pagibigfund.gov.ph.

2. Accomplish 1 copy of the application form.

3. For releasing of loan proceeds through Payroll Account/Disbursement Card, attach photocopy of payroll account/disbursement card/deposit slip (for newly-opened account).

4. Submit accomplished application, together with the required documents to any Pag-IBIG Fund Branch. Processing of loans shall commence only upon submission of complete documents.

C. Loan Features

1. Loan Amount: A qualified Pag-IBIG member shall be allowed to borrow an amount based on the lowest of the desired loan amount, loan entitlement, and capacity to pay.

2. Interest Rate: 10.5% p.a. with interest during the grace period and amortized equally over the term of the loan.

3. Loan Term: Maximum period of twenty-four (24) months with a grace period of two (2) months.

4. Loan Release: Through disbursement card, LANDBANK PACSVAL, check payable to borrower, or other acceptable modes.

5. Loan Payments: Equal monthly payments, usually through salary deduction, due on or before the 15th day of each month starting on the third month following release.

6. Penalties: 1/20 of 1% of any unpaid amount for every day of delay; employer penalty for non-remittance applies as specified.

7. Default: Willful misrepresentation, failure to pay three consecutive amortizations, failure to pay three consecutive MS, or violation of applicable rules.

8. Effects of Default: Outstanding loan obligation becomes due and demandable and may be deducted from TAV after collection efforts.

D. Other Provisions

1. MPL and/or Calamity Loan programs are separate and distinct from each other.

2. Aggregate STL shall not exceed eighty percent (80%) of the borrower’s TAV.

3. Borrower may renew MPL after payment of equivalent to six (6) monthly amortizations, subject to eligibility requirements.

4. In the event of membership termination prior to maturity, outstanding balance shall be deducted from TAV and/or amounts due the borrower or beneficiaries.

5. Offsetting of outstanding MPL balance against TAV may be effected upon approval for justifiable reasons and validation by the Fund.

6. If TAV offsetting has been effected on the borrower’s defaulting MPL, a new MPL may be applied for subject to the stated conditions.

Loan Renewal / Certificate of Net Pay

Issued this day of , 20.

I certify under pain of perjury that the above-mentioned information is true and correct.

HEAD OF OFFICE/AUTHORIZED SIGNATORY

(Signature over printed name)

Certificate of Net Pay

Name of Borrower

For the month of

Basic Salary

Add: Allowances

Gross Monthly Income

Less: Deductions

Total Deductions

Net Monthly Income

Issued this day of , 20.

I certify under pain of perjury that the above-mentioned information is true and correct.

HEAD OF OFFICE/AUTHORIZED SIGNATORY

(Signature over printed name)