Guide on GSIS Cash Loan Offer for Members
GSIS CASH LOAN – You can check here the important details about the Multi-Purpose Loan (MPL) offer of the Government Service Insurance System.
In the Philippines, one of the giants when it comes to social insurance is the GSIS or the Government Service Insurance System. Millions of Filipinos are members of the said social insurance institution.
The members of the GSIS are former and current employees of the government. A GSIS membership is mandated among the individuals who are working in the government. It widens the resources and options of the employees most especially in times of crisis.
The Government Service Insurance System offers several types of benefits for the members which were designed to provide the members with financial assistance in times of:
- sickness
- separation from work
- disability
- death
Aside from the benefit offers, the GSIS also got loans for the members. One of the loan offers is the Multi-Purpose Loan (MPL) or also popularly called the GSIS cash loan. It was designed to help address the financial needs of the members as well as consolidate the existing loans under a single loan offer.
Here are the loans that can be consolidated under the Multi-Purpose Loan offer:
- Salary Loan (SL)
- Restructured Salary Loan (RSL)
- Enhanced Salary Loan (ESL)
- Emergency Loan Assistance (ELA)
- Summer One-Month Salary Loan (SOS)
- Conso-Loan Plus / Enhanced Conso-Loan Plus
- Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
- Home Emergency Loan Program (HELP)
- Educational Assistance Loan I and II (EAL I / II)
- Fly PAL, Pay Later (FPPL)
- Study Now, Pay Later (SNPL)
- Stock Purchase Loan (SPL)
The Housing Loan is exempted from the consolidation under the said GSIS cash loan offer. It aims to give the member-borrowers an additional credit line to help them consolidate their existing loans.
Who are qualified to apply for the GSIS Multi-Purpose Loan offer? There are a few eligibility requirements set by the social insurance giant.