GSIS Multi-Purpose Loan Flex 2024 — Combine Your Loans & Get Extra Funds

Guide on GSIS Multi-Purpose Loan Flex Details & Application

GSIS MULTI-PURPOSE LOAN FLEX 2024 – The Government Service Insurance System has a cash loan offer that combines existing loans and provides access to extra funds.

Millions of Filipinos are members of the Government Service Insurance System. However, undeniably, not all members of the social insurance institution are aware of the growing offers of the state entity. Currently, there are more options with regards to the loans that it provides.

GSIS Multi-Purpose Loan Qualifications

The Government Service Insurance System actually does not only offer loans but as well as benefits offers. Aside from the GSIS benefits that attend to different situations, the social insurance giant alos has several loan offers which now includes the GSIS Multi-Purpose Loan Flex or also called the GSIS MPL Flex.

GSIS Multi-Purpose Loan Flex 2024
Screengrab from GSIS

The GSIS Multi-Purpose Loan Flex is designed to provide cash to members after the consolidation of the existing loans into a single loan. It saves a member-borrower from multiple interest.

However, a GSIS Housing Loan and the GSIS Police Loan are not covered under this MPL offer. Here are the loans that can be consolidated under the offer:

  1. Salary Loan (SL)
  2. Restructured Salary Loan (RSL)
  3. Enhanced Salary Loan (ESL)
  4. Emergency Loan Assistance (ELA)
  5. Summer One-Month Salary Loan (SOS)
  6. Conso-Loan Plus / Enhanced Conso-Loan Plus
  7. Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
  8. Home Emergency Loan Program (HELP)
  9. Educational Assistance Loan I and II (EAL I / II)
  10. Fly PAL, Pay Later (FPPL)
  11. Study Now, Pay Later (SNPL)
  12. Stock Purchase Loan (SPL)

Like in other loan offers, there are qualifications in applying for the GSIS Multi-Purpose Loan Flex. To qualify for the loan offer, a member-borrower must be…

  • not on leave of absence without pay at the time of application;
  • has no pending administrative case and/or criminal case; Provided however, that if the pending administrative case or charge is for a light offesnse, the borrower shal remain eligible.
  • has at least one (1) month premium contributions for both Personal Share and Government Share at the time of application;
  • with an agency status that is not “Suspended”; and
  • has no GFAL account in default;
  • having a resulting net take-home pay after loan availment is not lower than the amount required under the General Appropriations Act, after all required monthly obligations have been deducted.

According to the social insurance giant, member-borrowers who have an existing Multi-Purpose Loan Plus may still apply for the MPL Flex provided that they have not reached the maximum amount allowed for borrowing under the Plus.

How much is the borrowing amount allowed by the Government Service Insurance System under the loan offer? The loanable amount under the GSIS MPL Flex depends on the monthly contributions posted by the member-borrower. The loan terms are also dependent on the total contributions posted by the member.

On the interest rate under the GSIS Multipurpose Loan, the rates also vary. To apply for the loan offer, there are GSIS Multipurpose Loan Flex requirements that must be prepared.

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