If you want to start the habit of saving and you are an active member of Pagibig, Modified Pagibig 2 or MP2 is one of the easiest ways to start that habit. Here, I will guide you on how to process or enroll your MP2 account in one day. Also, I will answer the following questions that you might be asking right now:
What is the MP2 Savings Program?
What are the benefits of having an MP2 Account?
Who can avail of the MP2 Program?
How to open an MP2 Account?
How to pay MP2 Contributions?
How to track MP2 Savings?
Let's go!
What is the MP2 Savings Program?
MP2 is a special program by Pagibig for members who want to save more and earn higher dividends in addition to their regular Pagibig Savings.
Benefits of Opening an MP2 Account
This program has a 5-year maturity period with tax-free dividends reaching at least 7.03 % as of year 2022 data as shown in the image below. It is higher than the Pagibig Regular Savings and you can choose to withdraw your dividends annually or after the maturity period. It is also government-guaranteed, so you don’t have to worry about losing it.
Source: Pag-IBIG Fund MP2 Savings
Who can Avail of the MP2 Savings Program?
It is open for active and former Pagibig Fund members with other sources of income and/or Pensioners, regardless of age, with at least an equivalent of 24 monthly savings before retirement. Natural-born Filipinos or those covered by RA 9225 or the Citizenship Retention and Reacquisition Act of 2003 can also apply for the program, provided that they have at least 24 monthly contributions before permanent migration to another country.
Enrolment in this program is made easier and more convenient via Virtual Pagibig. But if you prefer to do it personally, you can visit any Pagibig branches near you. You only need to complete and submit the MP2 Savings Enrolment Form.
How to Open an MP2 Account?
For a minimum amount of P500, here’s how you can process an MP2 savings account in one day via online Virtual Pagibig.
Step 1. Visit the Pagibig website and use this link to enroll.
Step 2. Enter your Pagibig MID No., your last name, first name, and date of birth.
Step 3. Type in the captcha code and submit.
Step 4. Fill in your desired monthly contribution, preferred dividend payout (annually or 5-year term), mode of payment (salary deduction, over the counter or through accredited Pagibig collection partners), and your source of funds.
Step 5. Click the submit button.
That’s it! Your completed MP2 enrolment form will be displayed containing your 12-digit account number, and you have the option to save it as PDF or print it.
How to Pay MP2 Contributions?
If you’re an employee, you can pay your contributions by salary deduction and your employer will remit it to Pagibig Fund.
You can also send your contribution online through the following online payment channels:
Maya
Gcash
Coins.ph
Moneygment app
Credit or debit card powered by Visa, Mastercard or JCB
Or you can pay over the counter (OTC) through the following Pagibig accredited collecting partners:
Any Pagibig Fund branch
Asia United Bank
Robinsons Bank
United Coconut Planters Bank
SM Business Centers
Bayad
M. Lhuillier
ECPay accredited merchants
Overseas:
Philippine National Bank
Asia United Bank
IRemit powered merchants
Ventaja powered merchants
Cashpinas powered merchants
How to Track Your MP2 Savings?
You can view and monitor your savings and dividends online via Virtual Pagibig. Simply log in to your virtual account or if you don’t have one yet, create one here.
Conclusion
Opening an MP2 Account is a great way to start saving for your future, unlike saving your money in the bank. This savings program offers several benefits such as high, tax-free dividends and a 5-year maturity period. The process of opening an account is also relatively simple and can be done online or at any Pagibig branch.
If you are interested in opening an account, the minimum initial deposit is P500 and you can contribute as much as you want each month.
To learn more about MP2, you can visit the Pagibig Fund website.
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This is a very helpful guide in opening an MP2 account. Thank you for simplifying it in a way that's easy to understand for someone just beginning to learn about mp2 program. Hope you can share more articles on this. Thank you!