Investment, Moneytize, Personal, Product Review

Pag Ibig Mp2 Interest Computation

  As I was browsing to my facebook account I came across this sample computation of Pag-Ibig MP2 program.  For those of you who are not aware of this product and services you may want to visit their website Pag-Ibig Fund.  They have a great program and services for every Juan who wish to improve and diversify their savings.  Pag-Ibig MP2 account holder entitles everyone a higher interest rates at 7.43% which no bank in the Philippines can offer, aside from that it is tax free.  The downside is you have to keep your hard earned money for 5 years and you will reap your reward after that.  Think of that as savings for your future house or your child’s education.  It is better than let your money sleep in the bank.  I am not telling you to pull out all of your bank account now and put everything to your Pag Ibig MP2 fund, of course having a bank account is also advised because through that you have a money easily accessible.  You can withdraw your money anytime when you need it unlike Pag Ibig MP2 which will take you 5 years to withdraw.  But I highly suggest to save through this program.  I myself enrolled here last February and I started at Php1000.  I am saving and aiming for a higher deposit  these months to come because I am dreaming of buying or renovating our house 5 years from now.  Or I will put up my small sari sari store or my own bakery.

Before I forget, in order for you to have Pag-Ibig MP2, you should be a Pag-Ibig MP1 holder as well.  They need an active and updated account for MP1 that is their prerequisites.  Then I go to their site and sign up with Pag-Ibig MP2.

Then, the site will give you a new Account Number for Pag-Ibig MP2.  After that I paid a visit to their office and paid my Pag-Ibig MP2.  The staff merge my MP1 and MP2 account.  Sadly, they don’t have a passbook so clients can keep track how much is their money on Pag-Ibig MP2.  They also don’t have a MP2 Card.  And the don’t have a tracker just like in SSS website. So you have to keep your receipts and put it in your portfolio folder.

 

Ratings: 5 Stars for interests, 3stars for documentation

Recommendation:  Highly recommended

 

**photo from fb credits to the owner

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