Save Your Money through PAG-IBIG MP2 Savings

I am actively seeking a way where I can save up money or without having the chance to touch it in case I am short of cash or I am tempted to buy something.

A bank savings account won’t do for me since an ATM withdrawal or debiting from the ATM card is so convenient, thus the money that I restrain from touching in order to save something will be gone in just a poof. Until I came across the savings scheme from PAG-IBIG or Housing Development Mutual Fund (HDMF) called MP2 or Modified Pag-IBIG II. I did not know that PAG-IBIG has another savings scheme, apart from the monthly contributions that a regular employee or self-employed has. I confirmed this with a friend (who works at PAG-IBIG) and she said that it does exist and I can try it out.

I am not into maths, but I got some basic understanding of the MP2 HDMF savings offers.

1. The minimum savings monthly is 500pesos. Depending on the extra money that you have, you may save 1000, 1500 or bigger every month.*

*I called the customer service of PAG-IBIG and clarified this. I was told that I may deposit as much as I want every month, without following the deposit scheme for 500, 100, 1500 or 2000 pesos, as long as it would not be lesser than 500 a month.

2. It will earn interest depending on the set dividend rate per year, but the savings must stay unclaimed for a minimum of 5 years. The longer that it is not cashed out, the bigger the earnings.

3. A member can extend the tenure of the savings when he/she wants to do so.

4. It has a separate account number from the PAG-IBIG I contributions. 

My only worry is that there is no online facility to see if the deposited amount reflects on the account, except to call the PAG-IBIG hotline and ask a CSR to assist you with it. 


I registered to the MP2 savings in early September and got my MP2 account number.

I planned to deposit a part of my salary so that it would be credited for Sept 2016. Unfortunately, it took me until early October to deposit my first saving. :p

Hopefully, I can continue this savings up to five years so that I can get something when I turn 30! Haha.


How to pay for MP2 Savings in PAG-IBIG/HDMF

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