MANILA — The Pag-IBIG Fund has disbursed P88 billion worth of loans in the first 8 months of 2024, its chief executive officer said on Tuesday.

As of September, P88 billion in loans have been given to 55,000 members, said PAG-IBIG Fund CEO Marilene Acosta.

“‘Yung pinapautang ng Pag-IBIG Fund Fund ay nakakatulong tayo sa pag solve ng housing backlog,” she told state television PTV.

“Yung housing loan ng Pag-IBIG Fund fund, mababa ang interest rate, mahaba ang loan term, 30 years yan atsaka madali na lang mag loan,” she said.

PAG-IBIG is also pushing to make its loans more affordable to the public, Acosta said.

“Puwede ka na mag loan ng online. Marami na rin kaming online collection facilities,” she said.

The interest rate for housing loans for minimum wage earners is only at 3 percent and the loan may be settled for up to 30 years, she said.