To open a Pag-IBIG MP2 savings account, you'll need to be an active member of the Pag-IBIG Fund and have a valid identification card. You must also fill out an application form, which you can get through Pag-IBIG branches or their official website. The minimum contribution is PHP 500, and you can make additional deposits as desired. It's important to check the Pag-IBIG website or contact their customer service for the latest details and any specific requirements based on your situation.