Guide on GSIS MPL Flex Interest Rate 2024
GSIS MULTIPURPOSE LOAN FLEX INTEREST RATE 2024 – You can check here the interest rates that the Government Service Insurance System implements under the MPL Flex offer.
Are you one of the millions of Filipinos who are members of the Government Service Insurance System? More popularly called GSIS, the social insurance giant has several loan offers for its members which provide financial solutions in different situations.
Aside from the numerous GSIS benefits that attend to different needs, the social insurance giant also keeps on growing its loan offers. Now, the GSIS loans includes the GSIS Multipurpose Loan Flex or the GSIS MPL Flex.
Under the GSIS Multipurpose Loan Flex, several existing loans of the member-borrower may be combined under a single loan offer. The member-borrower may also have an access to extra funds that can be used in multiple purposes.
The maximum loanable amount under the MPL Flex is P5 million — big enough to get multiple projects done. Are you wondering about the GSIS Multipurpose Loan Flex interest rate?
The GSIS is one of the state entities that offer the lowest interest rates on its loan offers. With regards to the GSIS Multipurpose Loan Flex interest rate, here is a guide:
For Permanent Regular Members, the interest rate implemented by the Government Service Insurance System are as follows:
| PPP | GSIS MPL Flex Interest Rate |
| At least 1 month but less than 20 mos. | 7% |
| At least 20 mos. but less than 3 years | 7% |
| At least 3 years but less than 10 years | 6% |
| At least 10 years and over | 6% |
For Non-Career Regular Members, here are the interest rates implemented by the social insurance giant:
| PPP | GSIS MPL Flex Interest Rate |
| At least 20 mos. but less than 3 years | 7% |
| At least 3 years but less than 10 years | 6% |
| At least 10 years and over | 6% |
The Government Service Insurance System stated that there is a one-time waiver on the outstanding charges on due and demandable GSIS loan accounts for the first-time borrowers under the MPL Flex. Here are the loans that may be consolidated under the loan offer:
- Emergency Loan unpaid for 6 months or less or in-default
- GSIS Financial Assistance Loan (GFAL) in-arrears
- Salary Loan (SL)
- Restructured Salary Loan (RSL)
- Enhanced Salary Loan (ESL)
- Emergency Loan Assistance (ELA)
- Summer One-Month Salary Loan (SOS)
- Conso-Loan Plus / Enhanced Conso-Loan Plus
- Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
- Home Emergency Loan Program (HELP)
- Educational Assistance Loan I and II (EAL I / II)
- Fly PAL, Pay Later (FPPL)
- Study Now, Pay Later (SNPL)
- Stock Purchase Loan (SPL)
If you are interested to apply for the loan offer, it is best to prepare the documentary requirements needed in applying for the GSIS Multipurpose Loan Flex.