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10.11.07

Pag-IBIG Overseas Program

The Pag-IBIG Overseas Program (POP) is a voluntary savings program which aims to provide Filipino overseas contract workers ,immigrants and naturalized citizens the opportunity to save for their future and the chance to avail of a housing loan of as much as P 2,000,000.00

MEMBERSHIP

Coverage:

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.

Contribution Rate:

The POP member shall contribute monthly an amount equivalent to US $5. Should a POP member decide to apply for a housing loan and which to avail of a higher loanable amount, he would be required to upgrade his membership contribution as follows:

CONTRIBUTION RATE PESO EQUIVALENTLOAN ENTITLEMENT
US $5
Up to P250,000
US$ equivalent at point of availment
P300Over P250,000-P375,000
400Over P375,000- P500,000
600Over P500,000 - P750,000
800Over P750,000 - P1,000,000
1000Over P1,000,000- P1,250,000
1,200Over P1,250,000-P1,500,000
1,400Over P1,500,000-P1,750,000
1,600Over P1,750,000-P2,000,000
The upgraded membership contribution shall be incorporated as part of the housing loan monthly amortization

Dividend Rate:

Variable dividends from surplus earnings of the Fund shall be distributed annually to all POP members, to be credited to their Total Accumulated Values (TAV).

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The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership registration.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.

LOAN AVAILMENT

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?

Pag-IBIG Overseas Program Office
POP Overseas Offices
Accredited Overseas Marketing Representatives
Metro Manila and Provincial Offices
Accredited Collecting Banks/Remittance Companies

WHAT DOCUMENTS 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?

Three (3) working days

WHERE CAN I PAY?

Remittance of Contributions may be made through our accredited collecting banks:

Europe
PNB London (Savings Acct. No. 0725-219601-401)
ABC UK (UKD 2000097)

Asia Pacific
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)

Middle East
BPI - Atrium (Savings Acct. No. 3124-0221-09) Speed cash
ABC Head Office (Savings Acct. No. 1002-071759)

Canada
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)

source: www.pagibigfund.gov.ph

Related online discussion @ Pinoy Money Talk

Applying for a Housing Loan in Pag-ibig/SSS

Pag-Ibig cuts housing loan rates


3 Comments:

ramil said...

if a member is 5 years contract of payment and did not withdraw his/her payment after five years what will happen to the deposits of a member?
if the member was innocent for the rules about the due dates of payment what should going to do of the member for his/her payment deposits?

ramil said...

if registered in 5 years and did not withdraw what would happen to the member contributions?
example a member contributor get to the end of 5 years of paying and innocent for the matter of due dates rules what should the member going to do for his/her payments of pag-ibig?

bhronies said...

This sounds good, but still the rates needs to be more competitive.we can encourage our OFW's to be entrepreneurs and untimately come back and start developing our own nation.

Tuscany Agriturismo