GSIS MPL Lite Now Up For Qualified Members
GSIS MPL LITE – The Government Service Insurance System officially launched another cash loan offer, the Multipurpose Lite Loan.
Are you one of the millions of members of the Government Service Insurance System? More popularly called GSIS, new offers from the social insurance giant keep coming. Recently, it unveiled another cash loan offer, the Multipurpose Loan Lite or the MPL Lite.
Many GSIS members are already aware about the GSIS MPL Flex loan offer. However, many are not aware that the Government Service Insurance System recently launched the Multipurpose Lite (MPL) Loan. Under it, the qualified member-borrower may avail a financial solution as much as Php 50,000.
As its name suggests, the GSIS Multipurpose Lite Loan offer makes financial challenges “easy and light”. It is open for members who have a “sufficient Net Take Home Pay (NTHP) to qualify for additional GSIS loan/s or renewal of existing loans”.
Under the loan offer, the borrowing amounts allowed are from Php 5,000 to Php 50,000 depending on the net take home pay of the member-borrower. The interest rate depends on different factors.
| PPP | Amount | Interest Rate |
| at least 10 years | Php 50,000 | 6% |
| at least 3 years but less than 10 years | Php 30,000 | 6% |
| less than 3 years | Php 20,000 | 7% |
| special members | Php 50,000 | 7% |
Under the GSIS MPL Loan, the amount borrowed is payable within 6, 12, 18, or 24 months. To apply for the loan offer, there arte requirements for the GSIS MPL Lite application process.