How to: enroll for a second Pag-ibig MP2 savings account

So you already have an existing Modified Pag-IBIG 2 (MP2) savings account. Perhaps, you recently checked your Virtual Pag-IBIG account and noted your account has been credited with your 6.12% dividend for your 2020 contributions to your MP2 savings. Or, maybe, you’re still waiting for your first dividend.

But one MP2 account is not enough. When that account matures in five years from the time of your first contribution, you can’t wait for another five years to collect your next MP2 savings. You’ve read in the FAQ that you can indeed open and maintain multiple MP2 Savings Accounts:

According to Pag-IBIG’s FAQ, you are allowed to open and maintain multiple MP2 Savings Accounts.

Perhaps, you want to time your multiple MP2 accounts to mature one year after the other — for your liquidity, or maybe just to reward yourself every year.

But how? It’s not in the FAQ, or anywhere in the Pag-IBG website. Lucky you, I have done just that, and I’ll share to you what I did.

Steps for Enrolling additional MP2 Savings Accounts

1. Fill out MP2 Savings Enrollment form

Go to the MP2 Savings Enrollment page and accomplish the form including the pages that follow.

MP2 Enrollment Form

2. Pay your first contribution to your new account

At the end of the enrollment process in Step 1, you’ll have the option to print or save a PDF copy of your enrollment form. In it you’ll find your new MP2 account number and all the other details from their system as well as data you’ve entered as you went through enrollment. Unless you opt to have your contribution auto-deducted from your company salary, you can just save this form in your computer for future reference. No need to submit it to any Pag-IBIG branches. This I confirmed when I emailed their support team.

Of course, if you opted for salary deduction, you’ll need to print and sign this form and submit to HR.

So, you already have your new MP2 account number. You can use that using your favorite payment method. In my case, I paid Php500.00 using Paymaya for my initial contribution.

3. Your new MP2 account will automatically appear in your Virtual Pag-IBIG account

No need to lift a finger here. Just wait 2 or 3 working days, and voila — your new MP2 account will just appear in your Virtual Pag-IBIG account.

My Virtual PAG-IBIG account reflected my new MP2 account and my initial contribution just about 2 working days from payment date.

This is the process available as of March 2021. I can’t assure if the same will be true in the future. So enjoy!

4 thoughts on “How to: enroll for a second Pag-ibig MP2 savings account

  1. Hello, should I wait for the new account to appear in my virtual pagibig? Or should I pay the contribution right after I added the account?

    • I think you need to pay for the contribution first before the account appears on your Virtual Pag-IBIG account. What I did was pay for just ₱500 first as initial contribution and added some more when the account was already active in Virtual Pag-IBIG

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