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 EQUIVALENT LOAN ENTITLEMENT US $5 Up to P250,000 US$ equivalent at point of availment P300 Over P250,000-P375,000 400 Over P375,000- P500,000 600 Over P500,000 - P750,000 800 Over P750,000 - P1,000,000 1000 Over P1,000,000- P1,250,000 1,200 Over P1,250,000-P1,500,000 1,400 Over P1,500,000-P1,750,000 1,600 Over 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 Membership Term/Maturity: The accumulated savings under the program may only be withdrawn at the end of five (5), ten (10), fifteen (15), or twenty (20) years at the option of the member upon membership registration.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