MANILA -- Pag-IBIG Fund is launching a raffle for borrowers who take out multi-purpose loans (MPL).

Under its “Loan to Win!” raffle promo, members with an approved Pag-IBIG MPL a chance to win cash prizes. Each approved loan from April to December automatically earns one raffle entry.

But first-time borrowers, those who submitted applications via Virtual Pag-IBIG for Employers, or those who borrowed P50,000 or more can get bonus entries.

Over 250 winners will be picked in preliminary draws, and a grand prize winner will take home P50,000.

Meanwhile, the “Hatid Pana-Loan!” is for fund coordinators and employer representatives who actively help employees secure a Pag-IBIG MPL.

Employer representatives earn one raffle entry for every five approved Pag-IBIG MPL applications they facilitate, and also get bonus entries for applications from first-time borrowers or those submitted via Virtual Pag-IBIG for Employers. The grand prize for this draw is also at P50,000.

The Pag-IBIG Fund said it hoped that more Filipinos would become aware of the benefits and favorable terms of the Pag-IBIG MPL.

“More than just rewards, these initiatives emphasize that the Pag-IBIG MPL is a practical and reliable financial lifeline that benefits members directly," said Pag-IBIG Fund chief executive officer Marilene Acosta.

Pag-IBIG Fund books record dividends, says regular savings earn 6.6 pct, MP2 at 7.1 pct