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Eligible employers with an approved plan of payment shall be granted full condonation of penalties. However, in case of failure to comply with said plan of payment, all of their penalties shall be re-imposed. 3. The plan of payment shall be repaid over a maximum period of two (2) years.
A penalty of 1/20 of 1% of any unpaid amount shall be charged to the borrower for every day of delay. For borrowers paying through salary deduction, penalties shall only be reversed only upon presentation of proof that non-payment was due to the fault of the employer.
In the event of default, the outstanding loan obligation shall become due and demandable. The outstanding loan obligation shall be deducted from the TAV after exerting all collection efforts.
The processing time for a Pag-IBIG Multi-Purpose Loan typically takes about as fast as two days from the date of application, provided all required documents are submitted. Its advisable to apply well in advance if you need the funds by a specific date.
For questions or to follow-up on your loan application, please call (02)8724-4244 or chat us by clicking on the icon found at the bottom right of your screen.
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ing to the Pag-IBIG Fund Law (RA 9679), non-payment of Pag-IBIG contributions can lead to penalties equivalent to 1/10 of 1% per day of delay. In other words, the longer the delay in remitting the contributions, the higher the penalties will accumulate.
Loanable amount is up to 80% of your total contributions. If you are to get a Pag-IBIG MPL while you have an existing Calamity Loan, your loanable amount will be the difference between your current loan balance and 80% of your total Pag-IBIG Regular Savings.
Failing to pay could result in your account going into default, the balance being sent to collections, your lender taking legal action against you and your credit score dropping significantly. If money is tight and youre wondering how youll keep making your personal loan payments, heres what you should know.

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