Officials from the Home Development Mutual Fund, or popularly known as the Pag-IBIG Fund, visited Gov. Gwen Garcia on Friday.
Julio Carmel Alfarero, branch head of Pag-IBIG's Cebu Ayala branch, noted the governor’s support to the agency's savings programs for the Filipino workforce.
Sugbo News learned that the governor herself has joined the agency's MP2 (Modified Pag-IBIG II) Savings, a special savings facility with a 5-year maturity, designed for Pag-IBIG members who wish to save more and earn even higher dividends, in addition to their regular savings.
This savings facility offers higher interest rates than what banks usually give out.
The governor even made the call to invest in the MP2 program as she has seen its financial benefits in the long term.
The MP2 only requires a minimum savings of P500, and members would have the option to put in any amount in their savings account subsequently for capital accumulation.
"Ato gyud gi encourage atong Pag-IBIG members sa pagtigom ugma damlag," Alfarero said.
MP2 pays out annual dividends to its savers. Members also have the option to withdraw their accumulated dividends on top of their capital after 5 years.
MP2's dividend rate surged to 7.03 percent per per annum in 2022, the highest since the pandemic. | CL