The Pag-ibig MultiPurpose Loan (MPL) and Pag-ibig Calamity Loan are different,

but they are linked to each other.

You can apply for an MPL while you are still paying your Calamity Loan, or you can apply for a Calamity Loan while still paying your MPL.

But there is a restriction: Your total MPL and Calamity Loan must not exceed 80% of your Total Accumulated Value (TAV).

typhoon-pagibig calamity loan

What is TAV?  Your total money saved with Pag-ibig. 

It consists of:      
      - all your total contributions            
      - all contributions paid by your employer for you            
      - all dividends earned
       
The Calamity Loan is offered ONLY to Pag-ibig members who live in a community devastated by disaster such as flood and storm. The community must be declared by the national government to be in a State of Calamity.

Who Can Apply for a Pag-ibig Short Term Loan (MPL or Calamity Loan)?

You can apply if:

1.  You have made at least 24 monthly contributions or mandatory savings.
2.  You have made at least 1 monthly contribution or mandatory savings in the past 6 months.
3.  If you have a housing loan, it should not be in default.
4.  If you have another short-term loan, it should not be in default.
5.  You can show proof of current source of income.


Image by Gabe Raggio from Pixabay