You can now apply for Pag-IBIG MP2 savings account online. In this tutorial, we will guide what to do if how to do it using the online portal of Pag-IBIG.
Here’s how to apply for Pag-IBIG MP2 online:
1. Go to Pag-IBIG Mp2 enrollment site and fill out the necessary information such as your MID, name, and birthday. Enter the verification captcha then submit.
If you get an error, read the error and try again. Make sure this time that the information you enter is correct.
2. If there is no error, this is how the next page looks like. Basically your personal information on the left side and your Mp2 savings preferences on the right side.
Here are your guides on how to fill out the right side:
Desired monthly contribution:
How much money you want to deposit monthly. Don’t worry there is no penalty if you put here 1000 pesos monthly and you will only pay more or less than the indicated amount. Just remember that the minimum monthly deposit is 500 pesos.
Preferred dividend payout:
Do you want to get paid annually or you want to have your dividend after 5 years or more? I just don’t know which one is better. Since I am just a regular person, I choose annually so I can see how much interest I earn yearly.
Mode of payment:
Do you want to do it yourself every month or you want to have it deducted from your salary monthly? Well, in my own experience, since my employer is always late remitting our monthly contribution, I choose to do it myself(OTC).
Source of fund:
Choose from the option where will you get your monthly contribution from.
Review everything and hit submit.
3. Congratulations! You have successfully applied for Pag-IBIG Mp2 online. You can print the auto-generated form and take note of the account number indicated on the upper right side of the form.
What to do after applying in Pag-IBIG MP2 online?
One very important thing to do after the registration process is to pay your first monthly contribution to Pag-IBIG Fund office nearby. Not online nor in the payment center.
Why? According to our friends in Pag-IBIG Fund, the first payment should be done at Pag-IBIG Fund because the account does not exist yet online nor in the payment center so there is no way you can do it elsewhere.
Other members who have opened their accounts online say that they were able to send their first payment online.
In my case, I asked a friend to deposit 500 pesos to the account number generated for me and in less than 24 hours, it was already reflected in my Pag-IBIG virtual account.