In an effort to make loan applications easier and faster, the Pag-IBIG Fund has enhanced its online service portal to accept applications for its cash loan program.
According to senior agency officials, several enhancements have been made to the Virtual Pag-IBIG during the first semester 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 his administration as we 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-member Pag-IBIG Fund Board of Trustees.
Launched in December 2019, the Virtual Pag-IBIG allowed members to transact with the agency online, with a live chat facility 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 have been able to obtain a Pag-IBIG Fund Member ID. (MID), sign up for an MP2 savings account, or access their savings and credit records online, without having to visit a Pag-IBIG Fund branch. The virtual Pag-IBIG also offers an online payment facility that allows members to pay their loans and disburse 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 from loan applications received online.
According to Pag-IBIG Fund Managing Director, Acmad Rizaldy P. Moti, cash loan applications are processed, on average, in less than two days if submitted through their online services platform.
“The Virtual Pag-IBIG is a game-changer for us. When no one was ready for this pandemic, the launch of the Virtual Pag-IBIG late last year was timely as it allowed us to continue serving our members even during the imposition of community quarantines. And, as we adjust to the new normal, we hope that our decision to make cash loan applications available through the virtual Pag-IBIG will allow our members to experience faster transactions without leaving the security of their own home,” Moti said.