GSIS Offers Low Interest Loan Through Multi-Purpose Loan – Malubay – Manila Bulletin

GSIS Offers Low Interest Loan Via Multi-Purpose Loan – Malubay

The Government Service Insurance System (GSIS) offers a low-interest loan through the Multi-Purpose Loan (MPL), an agency official said on Tuesday, November 9.

(GSIS)

In a briefing from Laging Handa, GSIS Executive Vice President for Core Business Nora Malubay said the GSIS Versatile Loan (MPL) is the lending facility that consolidates all service loans and waives surcharges on all defaulted loan accounts.

“Amin pong nilunsad ang MPL to consolidate loans and pay one-time condolence penalties in May (we launched MPL to consolidate our members’ loans and it also has a one-time penalty bond),” Malubay explained.

Among the consolidable loans are the salary loan; restructured payroll loan; subsidized salary loan; emergency loan assistance; one month summer payday loan; consumer loan plus; member cash advance; emergency home loan program; student aid loan; Fly PAL, pay later; Study now, pay later; and stock loan.

Malubay said qualified member borrowers can claim up to 14 times their basic monthly salary, but not to exceed £ 3 million.

She added that MPL also has a low interest rate of seven to eight percent depending on the member’s premium payments and it is payable in monthly installments of two to seven years depending on the membership fee and employment status.

Members can apply for an MPL over-the-counter or through a drop box at any GSIS branch and extension offices nationwide or send an email to the GSIS management branch.


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