Guide on GSIS Pension Loan Computation 2025 for Pensioners
GSIS PENSION LOAN COMPUTATION 2025 – Here is a guide on how much pensioners aged 60 to 64 may borrow from the Government Service Insurance System.
Millions of Filipinos are members of the Government Service Insurance System or more popularly called GSIS. Filipino employees of the government and the public sector are required to maintain an active membership to the social insurance giant for a widened resources in times of financial needs.
The Government Service Insurance System provides several benefit offers that can help members in times of various needs when disability or maternity takes place. It also has several loan offers that were crafted as a turn-to for members in times of need for extra cash, calamity, loan consolidation, etc.
With regards to the loan offers of the social insurance giant, aside from the GSIS Emergency Loan offer, it also has the Pension Loan. It is designed to provide an access for qualified pensioners of the GSIS in times of need for cash. Do you want a GSIS Pension Loan computation? You can check the important details that you need to know below.
The GSIS Pension loan is a loan facility that is open to old-age pensioners under Republic Act 660, Presidential Decree 1146, or R.A. 8291 with no outstanding service loans amortized under the Choice of Loan Amortization. Here are the other qualifications under the loan offer:
- must be receiving a regular monthly pension for at least one month
- must have no existing service loans under the Choice of Loan Amortization Schedule for Pensioners (CLASP) or the GSIS Program of Restructuring and Repayment of Debts (PRRD)
- with a resulting net monthly pension after the loan deduction must be at least 25% of your Basic Monthly Pension (BMP)
How much is the GSIS Pension Loan Computation 2025 for 60-64 Year-Old Pensioners?
The GSIS Pension Loan computation may vary depending on certain factors like the age of the pensioner-borrower and his/her Basic Monthly Pension or BMP. According to the social insurance giant, for pensioners who are aged between 60 to 64, you may borrow up to 6 times of your BMP but not exceeding to Php 100,000.00.
For example, if your BMP is Php 10,000.00, your GSIS Pension Loan computation in terms of the maximum loanable amount is Php 60,000.00. According to the social insurance giant, the loan proceeds will be directly credited to your account within three (3) to five (5) working days since the date of the loan application.
How much is the interest rate under the offer?
According to the Government Service Insurance System, it implements a 10% per annum interest rate which is computed in advance.
What is the process of the repayment of the amount borrowed?
The monthly due is deducted from the pensioner’s monthly pension. According to GSIS, the loan including the interest and the other charges are payable in 24 monthly amortizations.
To apply for the loan offer, there are GSIS Pension Loan requirements that you must prepare.