Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have 25 years of contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
In the Philippines, many Filipinos are members of the Government Service Insurance System. More popularly called GSIS, it is one of the giants in terms of social insurance institutions and it provides several benefits and loan offers for its members.
Government workers in the country are mandated to maintain an active membership to the social insurance giant. With regards to the loan offers of the state-run social insurance giant, aside from the GSIS Emergency Loan, the social insurance giant also offers the GSIS Enhanced Conso-Loan Plus.
The GSIS Enhanced Conso-Loan Plus is designed to combine all the existing loans of a Government Service Insurance System member under a single loan. Through this, it will be easier to manage your loans and you can get away from multiple interest rates.
Under the GSIS Enhanced Conso-Loan Plus offer, here are the loan accounts that may be consolidated under a single loan offer:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
Who are qualified? Just like in other loans, there are qualifications or eligibility criteria in applying for the consolidated loan program of the Government Service Insurance System. For a member-borrower to qualify, he/she 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
According to the Government Service Insurance System, for a GSIS member-borrower to be eligible to apply for the GSIS Enhanced Conso-Loan Plus, the computed loanable amount must be at least Php 15,000. If the member-borrower’s computed loanable amount falls below it, the loan application will not be processed.
The GSIS Enhanced Conso-Loan Plus is open for members who have posted at least 20 months of contributions. The maximum loanable amount may vary depending on the premium payments posted.
If you have 25 Years Total Contributions
If you have posted at least 25 total monthly contributions to the social insurance giant, the maximum loanable amount is equivalent to a 14-month loan.
For example:
If you have posted at least 25 total monthly contributions and you basic monthly salary is Php 20,000, you may borrow up to Php 280,000.
With regards to the interest rate under the GSIS Enhanced Conso-Loan Plus, it is at 12% per annum compounded yearly. The interest rate is implemented based on a diminishing balance.
A GSIS member-borrower may opt for a lower amount than the loanable amount allowed based on the total posted contributions. However, it is important to ensure the amount you want to borrow as you can no longer change it once it is credited to your eCard account.
GSIS Enhanced Conso-Loan Plus Repayment
In repaying for the amount you borrowed, you may repay it for up to 10 years. Thus, there is really an option for light monthly installments should you wish to.
How To Apply for the GSIS Enhanced Conso-Loan Program?
Interested GSIS member may apply for the 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.
Once approved, the loan proceeds will be electronically credited to the GSIS e-Card or unified multipurpose identification (UMID) card of the GSIS member-borrower.
Aside from the loan consolidation program offer of the GSIS, the social insurance giant also has the GSIS Multi-Purpose Loan Flex.