Guide on GSIS Enhanced Conso-Loan Plus Loanable Amount
GSIS ENHANCED CONSO-LOAN PLUS – You can find the information below regarding the GSIS loan offer and the maximum amount you can borrow if you have been saving for 40 months.
Many Filipinos, both current and former government or public sector employees, are covered by the Government Service Insurance System (GSIS). GSIS, a significant social institution operated by the state, offers insurance coverage to these individuals.
To keep their accounts active and potentially qualify for different benefits and loans offered by the state-run social insurance institution, GSIS members need to make monthly contributions known as premiums or monthly savings.
The GSIS offers the Enhanced Conso-Loan Plus, also known as the GSIS cash loan. This loan allows GSIS members to combine their existing loans into a single consolidated loan. The eligible loans for consolidation encompass the following options:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
GSIS members who have made at least 25 monthly contributions are qualified for the loan offer provided through the GSIS Enhanced Conso-Loan Plus. A notable benefit of this loan program is the waiver of any penalties and surcharges that may be linked to the mentioned loans.
Members who have a 40-month savings may borrow up to four times of their Basic Monthly Salary. For example, your BMS is P8,000, you may borrow up to P36,000 under the loan offer.
Apart from this loan offer, the state-run social insurance institution extends several other loan options to its members, which include the following:
GSIS Policy Loan
GSIS members have the opportunity to avail the Policy Loan option, which enables them to secure a loan based on their insurance policy, as stated by GSIS. This loan option entails an interest rate of 8% and can be conveniently repaid through monthly installments.
Kindly visit – GSIS POLICY LOANS: Who May Apply For GSIS Policy Loan
GSIS Emergency Loan
GSIS provides an Emergency Loan explicitly created to aid members of the social insurance institution affected by calamities. Usually, the institution releases a list of eligible areas where residents can apply for this particular type of loan.
You may visit – GSIS Emergency Loan – How To Apply & Requirements To Prepare
