Securing the future of their family and loved ones is one of the primary reasons why most Filipinos prefer to work abroad. To help OFWs achieve their dreams, the Pag-IBIG Fund has a program that allows overseas Filipino workers (OFWs) to purchase a home and plan for their family’s future though the Pag-IBIG Overseas Program.
What is Pag-IBIG Fund?
The Pag-IBIG Fund is a nationwide savings fund established in December 14, 1980, through Presidential Decree No. 1752.
Today Pag-IBIG is one of the strongest financial institutions in the country with an asset level of over Php 29 billion. Active membership stands at 1.8 million nationwide. Total membership base is 2.1 million. As a shelter agency, Pag-IBIG has made possible the construction of over 95,000 housing units all over the Philippines under its various housing load programs.
What is the Pag-Ibig Overseas Program?
The Pag-IBIG Overseas Program was launched to give Overseas Filipinos the opportunity to save for their future and at the same time giving them the chance to avail of a housing loan as much as Php 500,000 with interest rates ranging from 9%-17% per annum depending on the load amount.
Who may join?
Membership under the Pag-IBIG Overseas Program (POP) shall be open to all Overseas Filipino Workers (OFWs) with valid visas or employment contracts. Likewise, it shall be open to Filipino immigrants and to Filipinos naturalized in other countries.
Requirements for membership application: Accomplished Member's Data Form, Membership contribution payment on a monthly or quarterly basis at your option
Mail or submit the accomplished Member's Data Form to:Makati Ave., Makati, M.M., Philippines 1200
Pag-IBIG Overseas Department
6/F Atrium of Makati,
c/o Vincent N. Nery or Voltair M. dela Rosa
POP contributions made in foreign currency shall be converted to its peso equivalent on the date when payment was made, rounded off to the nearest dollar. POP members may also opt to pay the required/upgraded contributions in its local currency (peso) equivalent.
What is the membership term/maturity?
The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership registration. Withdrawal of contributions shall be in Philippine peso. Contributions in foreign denomination shall be converted to Philippine peso based on the prevailing US dollar exchange rate as of payment date.
How can one avail of a loan?
POP members may avail themselves of the housing loan benefit, subject to the provisions of the existing Consolidated Guidelines of the Pag-IBIG Housing Loan Program, through their immediate family members with the execution of a Special
Power of Attorney (SPA), duly certified by the Philippine embassy or consulate in the country of their workplace. They can also avail of the Multi-Purpose Loan (MPL), subject to the existing guidelines of the MPL Program
Where can members file their application for membership, withdrawal of savings, remit or pay their monthly savings/ loan amortization?
Pag-IBIG Overseas Program Office
POP Overseas Offices
Accredited Overseas Marketing Representatives
Metro Manila and Provincial Offices
What to submit to apply for refund of savings?
Original copy of POP Passbook
Application for Provident Benefit
Special Power of Attorney ( if applicable)
How long is the processing period
Ten (10) working days
Where can I pay?
Remittance of contributions may be made through our accredited collecting banks:
PNB London (Savings Acct. No. 0725-219601-401)
ABC UK (UKD 2000097)
PNB HK (Savings Acct. No. 0730-475270-501)
United States of America
Oceanic Bank (Savings Acct. No. 3700143)
PNB New York (Savings Acct. No 1713)
ABC Guam (Savings Acct. No. 5000-00355-4)
BPI - Atrium (Savings Acct. No. 3124-0221-09) Speed cash
ABC Head Office (Savings Acct. No. 1002-071759)
Bank of Nova Scotia (Savings Acct. No. 2164-10)
Remittance may also be made to any of the following banks:
RCBC (Savings Acct. No. 8000-08787-5)
PNB Makati Ave. (Savings Acct. No. 265706641-1)
LBP (Savings Acct. No. 2204-008496)
PCIB (Savings Acct. 5463-00176-8)
What will happen to my savings?
Your total savings shall enjoy the following features:
Fixed dividends for members with no outstanding loans at the following rates
• 7.5% p.a. on P contributions
• 3.0% p.a. on US$ contributions
• 2.5% p.a. on C$ contributions
Tax-free dividend earnings
Guaranteed by the Philippine Government up to 100%
Portability. Your savings shall remain in your name even if you transfer employers or country of domicile (residence).
When can I withdraw my total savings?
Your accumulated savings under the Program may be withdrawn at the end of 5, 10, 15 or 20 years depending on the membership term you opted for upon registration.
Withdrawal of contributions shall be in Philippine Peso, US Dollars or Canadian Dollars depending on which form of currency the contributions were remitted. Hence, all dollar contributions shall be refunded in dollars, and all peso contributions in pesos.
Withdrawals of savings before maturity shall be allowed in any of the following cases: Death, Total Disability / Insanity
When can I avail of a housing loan?
You can avail of housing loan under the Overseas Program if you:
Have been a Pag-IBIG member for at least 6 months
Have made at least 12 monthly contributions
Are a contributing member upon loan application
Are not more than 65 years old at the date of loan maturity
Have the legal capacity to contract and purchase real property under Philippine laws
Have no outstanding housing loan except lot purchase loan at the Pag-IBIG Fund either as principal or co-borrower
Where can I use my loan?
House construction on a lot owned by the member
Purchase of a lot and construction of a house thereon
Lot purchase not exceeding P 150,000
Major home improvement
Refinancing of an existing loan
What is the loan repayment period?
The loan is payable in 5 or 10 years (for contract workers) and is 5, 10, 15, or 20 years (for immigrants and Filipino-Americans/Canadians) with the first payment due on the calendar month immediately following the receipt of the total loan proceeds by the borrower.