Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have 20 months contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
Undeniably, due to the high costs of basic needs and services in the Philippines now, many Filipinos have accumulated loans. While no one wants to be buried by multiple loans, there are instances that applying for one is the only choice. Do you have multiple existing loans to the Government Service Insurance System?
The Government Service Insurance System, more popularly called GSIS, is one of the social insurance giants in the Philippines. It has a multi-million member populace and many of its members have multiple existing short-term loan accounts. If you are one of them, it is best to know that aside from the GSIS Emergency Loan, the state-run social insurance institution also offers the GSIS Enhanced Conso-Loan Plus.
The GSIS Enhanced Conso-Loan Plus will give you the chance to consolidate all your existing short term loans under a single loan account. Through it, it will be easier for you to manage the repayment of your loan and avoid late payment penalties and multiple interest rates.
Which existing loans under the Government Service Insurance System may be consolidated under the GSIS Enhanced Conso-Loan Plus? Here are the loans that may be combined under the loan offer:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
With regards to the qualifications in applying for the GSIS Enhanced Conso-Loan Plus, to be eligible to apply for the offer, the member-borrower should meet the following eligibility requirements:
- permanent and non-permanent members of GSIS
- without pending administrative or criminal case
- not on a leave of absence without pay
- with a net take-home pay that is not less than the minimum amount specified in the General Appropriations Act after the monthly amortization due on the loan has been deducted
However, it is important to know that your application for the GSIS Enhanced Conso-Loan Plus will only be processed if your computed loanable amount is at least Php 15,000. Otherwise, your loan application will not be processed by the social insurance giant.
It is also important to know that the Enhanced Conso-Loan Plus offer of the social insurance giant is open only for members who have posted a total of 20 monthly premiums. The maximum amount that you may borrow under the offer depends on your total contributions.
At least 20 Months Premium Payments Posted but Not More than 40 Months
If you have posted at least 20 monthly premiums but not more than 40 total contributions to the social insurance giant, the maximum loanable amount is equivalent to a 3-month loan.
For example:
Aside from the total premiums posted, another factor in determining how much you may borrow under the GSIS Enhanced Conso-Loan Plus is your basic monthly salary. If you have posted between 20 to 39 monthly premiums and you earn Php 20,000.00 per month, you may borrow up to Php 60,000.00.
The social insurance giant implements a 12% interest rate per annum and it is compounded annually. The interest rate is implemented on a diminishing principal balance until the loan is fully-paid.
GSIS Enhanced Conso-Loan Plus Repayment
The loan is payable for up to six (6) years. Make sure that you have decided on the amount to borrow before making your application as you cannot change it once the loan proceeds has already been credited to your account.
How To Apply for the GSIS Enhanced Conso-Loan Program?
GSIS members who want to push through an application may do so through the GSIS Wireless Automated System (GWAPS) kiosks located in all 57 GSIS branch and extension offices; provincial capitols, city halls, selected municipal offices, and large government agencies such as the Department of Education, and selected Robinsons Malls.
For approved loan applications, the loan proceeds will be electronically credited to the GSIS e-Card or unified multipurpose identification (UMID) card of the GSIS member-borrower.
Aside from the loan consolidation program offer of the GSIS, the social insurance giant also has the GSIS Multi-Purpose Loan Flex.