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The Home Development Mutual Fund or Pag-IBIG Fund on Tuesday said it released over P20 billion in cash loans in the first four months of 2024.In a statement, Pag-IBIG Fund said it released P22.63 billion in cash loans from January to April, up 38% from P16.44 billion released in the same period last year.In terms of members which benefited from the cash loans, the fund said the amount released assisted 965,291 members —200,000 more than the 766,258 members assisted in January to April 2023.
The short-term loans allow qualified members to borrow up to 80% of their total Pag-IBIG Regular Savings, which include their monthly contributions, their employer's contributions, and accumulated dividends.Pag-IBIG Fund said borrowers have the option of a 24 or 36-month repayment term and benefit from a two-month grace period before the first payment is due.
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