Savings increased in Q3 according to Pag-IBIG.

According to the Home Development Mutual Fund, often known as the Pag-IBIG Fund, member savings for the third quarter were P98.72 billion.

P49.27 billion was collected under the Fund's mandated Regular Savings program, and P48.86 billion was collected through the Modified Pag-IBIG 2 savings program, which is optional.

At the Philippine Information Agency's "Kapihan sa Bagong Pilipinas" event on Tuesday, the news was made.

With 16.37 million active members, Pag-IBIG also reported that its membership base has grown, contributing to the agency's previously noted savings.

"From January to September 2024, Pag-IBIG Fund was able to assist more than 2.5 million members in need of immediate short-term cash financing, approving Multi-Purpose Loan applications of more than two million borrowers amounting to a total of P49.72 billion, a 16 percent increase in both the number of borrowers and the total loan amount compared to the same period last year," the agency said.

"Almost 461,000 victims affected by various calamities this year were also assisted with the release of P5.92 billion in Pag-IBIG Calamity Loan. Applications for Pag-IBIG Fund's Short-Term Loans do not have processing fees. Loan proceeds are also not deducted with advanced payments or interests, allowing it to be one of the most affordable cash loans in the market," it added.

A one-month home loan payment deferment has been issued by the Pag-IBIG Fund for borrowers impacted by the recent tropical storm "Kristine," enabling them to focus on their financial rehabilitation.

61,597 housing loan borrowers received P88.17 billion from the Pag-IBIG Fund, which offered low-interest financing up to P6 million. Additionally, it kept up its participation in the 4PH Program, which helped 17,791 low-income borrowers.

"Our accomplishments this year underscore our dedication to serving the financial needs of Filipinos across the country. Participating in the PIA's Kapihan sa Bagong Pilipinas serves as a good opportunity for us to directly engage with our members and inform them how Pag-IBIG Fund is working towards a stronger financial institution. After all, our members are the true owners of the Fund," Pag-IBIG Fund CEO Marilene Acosta said.

"It is just proper that they know how their savings are used and how effectively managing Pag-IBIG's finances will result in their benefit through dividends and returns on their savings." she added.