Australia: My Experience With The Stock Market - Part 4

Aside from stonks, I was also researching about ETFs (exchange traded funds). It's like mutual funds but no. Then I came across spaceship voyager  then raiz .  If you want to know more about the two, you can refer to this  article . Below is a summary: 📌Make sure you understand the product and the risks involved before investing.  Source: Update: I opened an account with Raiz and will do a review after a few months 😊 . If you want to get started, maybe you can use my referral link here  to have  $5 for me, $5 for you! Thanks!   

Benefits and Programs of PAG-IBIG/HDMF

A) Multi-purpose Loan - is a cash loan that aims to provide financial assistance to qualified members for house repair, minor home improvement, home enhancement, tuition/educational expenses, health and wellness, livelihood and other purposes.
  • Qualifying conditions
    • has made at least 24 monthly mandatory savings (MS)
    • has 5 MS for the last 6 months prior to date of loan application
    • if with an existing Housing Loan and/or MPL and/or Calamity Loan, the account/s must not be in default prior to loan application.
  • Amount: the borrower's loan value shall be a percentage of his Total Accumulated Value (TAV)
  • Interest rate: 10.75% per annum, paid equally for the duration of the loan
  • Repayment period: 24 months with a grace period of 2 months
B) Affordable Housing Program - may be used to finance any one of the following:
    • purchase of a fully developed residential lot or adjoining lots not exceeding 1,000 square meters,
    • purchase of a residential house and lot, townhouse, or condominium unit;
    • construction or completion of a residential unit on a lot owned by the member.
  • Qualifying conditions:
    • must have remitted 24 monthly contributions under Pag-IBIG I Membership Program. New members may pay the 24 monthly membership contributions in lump sum, corresponding to the loan amount applied for;
    • has a gross monthly income not exceeding ₱17,500.00 for those working in the NCR and ₱14,000.00 for workers in other regions;
    • not more than 65 years old;
    • has no outstanding Pag-IBIG housing loan;
    • has no outstanding multi-purpose loan in arrears;
    • had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default or subjected to Dacion en Pago 
  • Amount:
    • may borrow up to a maximum amount of ₱750,000.00, depending on the member’s actual need, his loan entitlement based on gross monthly income, his loan entitlement based on capacity to pay, and the loan-to-appraisal value ratio, whichever is the lowest.
    • maximum of three (3) qualified Pag-IBIG members may be tacked into a single loan provided they are related within the second civil degree of consanguinity or affinity.
  • Interest rate: First 10 years, interest rate for loans up to P450,000 is 4.5% provided gross monthly income is P15,000 (NCR)/P12,000 (other regions). Loans up to P750,000, interest rate is 6.5% provided gross monthly income is P17,500 (NCR)/P14,000 (other regions).
  • Charges to be collected: Processing fee of P3,000.
C) Calamity Loan
  • Qualifying conditions:
    • has made at least 24 monthly mandatory savings (MS)
    • has 5 MS for the last 6 months prior to date of loan application
    • resides in the area which is declared by the Office of the President or local Sanggunian concerned as under state of calamity
  • Amount: an eligible member may borrow up to a maximum of 80% of his TAV
  • Interest rate: current rate is at 5.95% per annum
D) Pag-ibig Savings Program
  • All savings are government guaranteed
  • Tax free annual dividends
  • Access to short term loan programs and housing loan program

When can a member withdraw his/her savings?

A member may withdraw his/her total Pag-IBIG savings (provident benefits claim upon occurrence of any of the following:
  • Membership maturity after 20 years of continuous membership. The member must have remitted at least 240 monthly membership contributions with the Fund.
  • Members who registered in 2010, under RS 9679 has the option to withdraw their savings after 15 years of continuous membership.
  • Retirement. The member shall be compulsorily retired upon reaching age 65. He may however, opt to retire upon the occurrence of any of the following:
    • Actual retirement from the SSS, the GSIS or a separate employer provident/retirement plan, provided the member is least 45 years
    • Upon reaching age 60.
  • Permanent and Total Disability or Insanity.
  • Separation from the service due to health reason
  • Permanent departure from the country
  • Upon death of the member, where his legal heirs shall receive his TAV plus an additional Death Benefit Grant equivalent to this TAV or P6,000, whichever is lower.

*Update: You can already register online and be able to view your contributions. REGISTER


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