By Alec Go
Government-run Pag-IBIG Fund reported that its members saved P27.51 billion in the first four months of the year, higher by 10% compared to last year’s figures and the highest ever recorded for January to April.
Housing Secretary Jose Rizalino Acuzar said the boost in savings will give way for the financing of the increasing demand for housing loans in line with the Pambansang Pabahay para sa Pilipino Housing (4PH) program.
Savings under the Modified Pag-IBIG 2 (MP2) program also reached a record high of P 13.89 billion in the said period, 14% higher than the P12.14 billion compared to the same period in 2022.
MP2 has a maturity period of 5 years with a minimum savings requirement of P500.
“Our MP2 Savings Program continues to grow at a strong pace. We thank our members for their continued support and enduring trust in our MP2, as well as in our Regular Savings program,” Pag-IBIG Fund chief executive officer Marilene Acosta said.
“We are even more grateful that the biggest growth areas in our savings collections come from our voluntary MP2 Savings Program and from members who save more than their mandated monthly savings,” she added. – gb
