I have always been happy with PAG-IBIG Fund. I have always found their employees very friendly and efficient. And that is not the only reason. There's more.
Out of all the statutory deductions to your monthly salary (SSS, GSIS, Philhealth, PAG-IBIG and withholding income tax), only PAG-IBIG can be considered "savings". Unlike other deductions, all your contributions to PAG-IBIG, plus all your employers' share, will be returned to you in full upon maturity of your account.
On top of that, your "savings" will also allow you to get a housing loan at very low interest rates. In fact, in a seminar I attended last Saturday at their Corporate Center, I learned that interest rates were further reduced last June 207 to only 6% for loans up to P300,000, 7% for loans up to P750,000, and so on.
And, while PAG-IBIG may "re-price" your housing loan after three years, the interest rate can only be increased by not more than 2%. Meaning, for a P750,000 loan, the highest interest charges you may incur is only 9%, way below the interest rates offered by banks, even today.
With the lowest interest rates ever, and with the assurance that the rates cannot be increased by more than 2%, I sincerely believe that now is the ideal time to get a housing loan and build your own home.
Photo of the PAG-IBIG Member Relations Desk inside the Atrium in Makati which houses the Corporate Center of the Fund.