Guide on GSIS Pension Loan Computation 2025 for Pensioners
GSIS PENSION LOAN COMPUTATION 2025 – Here is a guide on how much pensioners aged 70 and above may borrow from the Government Service Insurance System.
In the Philippines, one of the best ways to prepare for the future is to secure an active account with either of its biggest social insurance giants while you are in your employment years. In the case of government workers, the state mandates the employees to maintain an active membership to the Government Service Insurance System or GSIS.
A GSIS membership may not only widen your options with its benefit and loan offers but as well as help your prepare for your retirement. The social insurance giant does not only have the Retirement Benefit but as well as loans for its pensioners.
Aside from the GSIS Emergency Loan that comes with an exclusive version for the GSIS pensioners, the social insurance giant also has the GSIS Pension Loan for the pensioners who are in need of cash. There might be times when the monthly pension won’t be enough like when medical emergencies unfortunately takes place.
The GSIS Pension Loan is open for pensioners under the Republic Act 660, the Presidential Decree 1146, and the Republic Act 8291. Here are the 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)
- without outstanding service loans being amortized under the Choice of Loan Amortization Schedule for Pensioners (CLASP) at the time of filing
How much is the GSIS Pension Loan Computation 2025 for Pensioners Who are Aged 70 and above?
The Government Service Insurance System considers two (2) factors for the GSIS Pension Loan computation — the Basic Monthly Pension or BMP of the pensioner-borrower as well as the age of the borrower.
The GSIS Pension Loan computation for pensioners who are aged 70 and above is equal to two times of your BMP but limited to Php 20,000. Thus, if your BMP is Php 5,000, your maximum loanable amount is Php 10,000. The loan proceeds will be credited directly to your account within 3-5 working days from the date of the loan application/
How much is the interest rate under the offer?
With regards to the interest rate, the social insurance giant implements a 10% per annum interest that is computed in advance.
What is the process of the repayment of the borrowed amount?
According to GSIS, he loan principal, interest, and other charges are payable in 24 monthly amortizations. To apply for the loan, there are GSIS Pension Loan requirements that you should secure.