Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have 40 months contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
Millions of Filipinos are members of the Government Service Insurance System. More popularly called GSIS, it is a social insurance giant in the country with several loan offers for its members. Truth be told that many GSIS members have multiple loan accounts with the state-run social insurance entity.
The Government Service Insurance System offers a variety of loans to ensure that its members have something to turn to in different situations. For example, in times of calamity, qualified members may turn to the GSIS Emergency Loan offer. In the case of members who want to combine their existing short-term loans under a single loan offer, you may turn to the GSIS Enhanced Conso-Loan Plus offer.
The GSIS Enhanced Conso-Loan Plus offer was designed to consolidate the existing short-term loans of a member. It provides members with the benefit of ease in having only to manage one loan as well as the possibility of saving money from multiple interest rates and penalties.
There are several loans that may be combined under the GSIS Enhanced Conso-Loan Plus. According to the social insurance giant, under the loan offer, the following existing loans of a member-borrower may be consolidated:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
The social insurance giant has set a few qualifications in applying for the loan offer. Do you want to know if you are qualified to apply for it? Here is the eligibility criteria that you should meet to qualify for the loan offer:
- 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
It is important to know that only GSIS members with a computed loanable amount of at least Php 15,000.00 has the chance of their applications being processed. Otherwise, the social insurance giant will not process the application..
If You Have 40 Months Total Premium Posted
If you have posted at least 40 monthly premiums but not more than five (5) years of total contributions to the social insurance giant, the maximum loanable amount is equivalent to a 4-month loan.
For example: The total premiums posted by the member-borrower as well as his/her basic monthly salary are the important factors in determining how much may be borrowed under the offer. If you have 40 months total paid contributions and you earn Php 20,000.00 basic monthly salary, you may borrow up to Php 80,000.00.
Under the GSIS Enhanced Conso-Loan Plus, the interest rate is at 12% per annum compounded yearly. The social insurance giant implements the interest rate on a diminishing balance
GSIS Enhanced Conso-Loan Plus Repayment
Under the loan offer, the amount borrowed is payable for up to six (6) years. You may choose for a loan amount that is lower than the loanable amount open for you. However, it is important to decide on the amount as you can never change it once the loan proceeds have already been credited to your eCard account.
How To Apply for the GSIS Enhanced Conso-Loan Program?
You may apply for the loan offer 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.
The loan proceeds will be electronically credited to the GSIS e-Card or unified multipurpose identification (UMID) card of the GSIS member-borrower.
The social insurance giant also offers the GSIS Multi-Purpose Loan Flex which you might like to check out, too.