Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have at least 10 years of total contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
Undeniably, the high cost of living in the Philippines nowadays has led many Filipinos to accumulate a lot of loans. In fact, there are many members of social insurance giants in the country who have multiple loans to state-run entities like the Social Security System (SSS) and the Government Service Insurance System (GSIS) which offer multiple loans.
Are you one of the members of the Government Service Insurance System who has multiple existing loan accounts with the social insurance giant? It will be 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 is designed to consolidate all the existing short-term loans of a member so it would be easier to manage your loans as you only have to deal with one. Also, it can save you from multiple interest rates and penalties.
What are the loans that may be consolidated under the offer of the Government Service Insurance System? Here are the loans that you may combine under the GSIS Enhanced Conso-Loan Plus:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
There are qualifications in applying for the GSIS Enhanced Conso-Loan Plus offer. To be eligible to apply for the offer, the member-borrower should meet the following qualifying criteria:
- 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
Furthermore, a GSIS member-borrower must have a computed loanable amount of at least Php 15,000 to qualify to apply for the offer of the social insurance giant. Otherwise, the loan application will not be processed.
Only GSIS members who have posted a total of at least 20 monthly premiums may apply for the loan offer. With regards to the maximum loanable amount, it actually depends on your total contributions.
If you have 10 Years Total Contributions
If you have posted at least a total of 10 years monthly premiums but not more than 15 years of total contributions to the social insurance giant, the maximum loanable amount is equivalent to a 10-month loan.
For example:
The basic monthly salary of a member-borrower is a factor in determining the loanable amount. In the case if a member-borrower who has posted at least 10 years of monthly contributions but not over 15 years of total premiums, if you are earning Php 20,000 basic monthly salary, your maximum loanable amount is Php 200,000.
How about the GSIS Enhanced Conso-Loan Plus interest rate? According to the social insurance giant, it is at 12% per annum compounded yearly. The interest rate is implemented based on a diminishing balance.
GSIS Enhanced Conso-Loan Plus Repayment
The loan is payable for up to 10 years. It is important to make sure that the amount you entered during the loan application is the final amount that you wish to borrow as you can no longer make changes once the loan proceeds has been credited to your eCard account. You may choose to borrow an amount lower than what is eligible for you.
How To Apply for the GSIS Enhanced Conso-Loan Program?
To apply for the offer, you can do it via a GSIS Wireless Automated System (GWAPS) kiosks which are 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.
Do you want another loan offer of the social insurance giant? You may also check out the GSIS Multi-Purpose Loan Flex.