Check here the List of Eligibility Requirements for GSIS MPL Lite Application
REQUIREMENTS FOR GSIS MPL LITE 2024 – You can check here the list of qualifications under the Government Service Insurance System Multipurpose Loan Lite offer.
The Government Service Insurance System is one of the biggest social insurance entities in the Philippines. More popularly called GSIS, it is in the service of millions of Filipino people for decades already. Through the years, it has continually grow its offers.
Aside from the popular GSIS loans for the members which include the Calamity Loan and the Pensioners’ Loan, the giant social insurance institution recently launched the GSIS Multipurpose Loan (MPL) Lite. It is a cash loan offer that was designed to address the short-term needs of qualified members.
Under the GSIS Multipurpose Loan (MPL) Lite, a qualified member may borrow up to Php 50,000 which is payable for up to 24 months. The interest rate is between 6% to 7% depending on the contributions posted by the member and the amount borrowed.
To apply for the loan offer, there are several requirements for the GSIS MPL Lite that you must comply with. These include qualifications.
To qualify for the Multipurpose Loan (MPL) Lite offer of the Government Service Insurance System (GSIS), here are the eligibility criteria that a member-borrower should meet:
- active member under permanent and non-permanent status, including Special Members tagged as such in their respective Member’s Service Profiles (MSPs) whose agency has a MOA with GSIS may avail of MPL Lite,
- has at least one (1) month premium contributions for both Personal Share and Government Share at the time of application
- not on leave of absence without pay at the time of application
- has no pending administrative case and/or criminal case; Provided however, that if the pending administrative case or charge is for a light offense, the borrower shall remain eligible
- has no GFAL account in default except housing loan
- the resulting net take-home pay after loan availment is not lower than the amount required under the General Appropriations Act, after all required monthly obligations have been deducted
- the agency status is not “Suspended”
Aside from the Multipurpose Loan or MPL Lite, the Government Service Insurance System also has the GSIS MPL Flex.