Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have five (5) years total contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
Have your loans to the Government Service Insurance System piled up? It is important to know that there is a loan offer that you can turn to so you do not have to deal with multiple loan accounts which can lead you to miss out paying for a monthly amortization and incur penalties.
The Government Service Insurance System is not only ready to help its members in times of natural disasters with a GSIS Emergency Loan nor the pensioners in times of need for additional cash. It may also help you consolidate multiple loans under a single loan through the GSIS Enhanced Conso-Loan Plus 2025.
Truth be told that not many members of the social insurance giant are aware of the GSIS Enhanced Conso-Loan Plus 2025. It was designed to combine several existing loans of a member into a single loan. If you have five (5) years of contributions, you can check on your loanable amount below.
Before checking on the loanable amount, it is important to know which loans may be consolidated under the GSIS Enhanced Conso-Loan Plus 2025 offer. You may combine the following loans:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
Loan applications are coupled with qualifications and documentary requirements. To be eligible to apply for the loan offer, the member-borrower should meet the following qualifications:
- permanent and non-permanent members of GSIS
- without pending administrative or criminal case
- not on a leave of absence without pay
- with a net take-home pay that is not less than the minimum amount specified in the General Appropriations Act after the monthly amortization due on the loan has been deducted
It is equally important to know that a GSIS member-borrower will only be eligible to apply for the GSIS Enhanced Conso-Loan Plus if his/her computed loanable amount is at least Php 15,000. If the computed loanable amount of the member-borrower is below Php 15,000, the loan application will not be processed.
Furthermore, the member-borrower must have posted at least 20 months of contributions. The loanable amounts vary.
If you have 5 Years Total Contributions
If you have posted at least five (5) years of total premiums to the social insurance giant but not more than a total of 10 years paid premiums, the maximum loanable amount is equivalent to a 7-month loan.
For example:
If your basic monthly salary is Php 20,000 and you have posted a total of five (5) years premiums, you may borrow up to Php 140,000 or equal to seven (7) months of your basic monthly salary.
The GSIS implements 12% interest rate per annum. The interest is compounded yearly and is implemented based on a diminishing balance.
GSIS Enhanced Conso-Loan Plus Repayment
For member-borrowers who have posted a total of five (5) years of monthly premiums, the maximum loan term for repayment is six (6) years. The amount that will be credited to your eCard account can no longer be changed, thus, it is important to ensure you stated the right amount during the loan application.
How To Apply for the GSIS Enhanced Conso-Loan Program?
A GSIS member may apply for the GSIS Enhanced Conso Loan Plus offer through the GSIS Wireless Automated System (GWAPS) kiosks located in all 57 GSIS branch and extension offices; provincial capitols, city halls, selected municipal offices, and large government agencies such as the Department of Education, and selected Robinsons Malls.
If the GSIS has approved your loan application, your loan proceeds will be electronically credited to the GSIS e-Card or unified multipurpose identification (UMID) card of the GSIS member-borrower.
The Government Service Insurance System has multiple loan offers. It also has the GSIS Multi-Purpose Loan Flex.