Details about the GSIS Enhanced Conso-Loan Plus 2025 Loanable Amounts
GSIS ENHANCED CONSO-LOAN PLUS 2025 – If you have 15 years of contributions to the Government Service Insurance System, here is a guide on the loanable amount under the offer.
Have you heard about the consolidated loan program offer of the Government Service Insurance System? It can be your perfect chance to combine all your existing short-term loans under a single loan offer.
The Government Service Insurance System is in the service of the Filipino people for several decades now since 1937. It is one of the giants in the country in terms of social insurance and it has a multi-million member populace. With regards to the loan offers of the social insurance giant, aside from the GSIS Emergency Loan, it also offers the GSIS Enhanced Conso-Loan Plus that combines several existing loans under a single loan.
The GSIS Enhanced Conso-Loan Plus has already helped countless members of the social insurance giant whose short term loans have piled up. It can be a key to get away from multiple interest rates and to just deal with one loan to the state-run social insurance entity.
Before apply for the GSIS Enhanced Conso-Loan Plus, it is important to know which loans are eligible to be consolidated under the loan program. It is open to combine the following under a single loan account:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
Of course, there are qualifications in applying for the Enhanced Conso-Loan Plus offer of the social insurance giant. You need to meet the following eligibility criteria 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
The computed loanable amount of a GSIS member-borrower must be at least Php 15,000 to qualify to apply for the loan offer of the social insurance giant. In case the loanable amount of the member-borrower is below Php 15,000, the loan application will not be processed.
A GSIS member must have posted at least 20 monthly premiums to qualify for the GSIS Enhanced Conso-Loan Plus offer. The loanable amounts may vary.
If you have 15 Years Total Contributions
If you have posted at least a total of 15 years monthly premiums but not more than 25 total premiums to the social insurance giant, the maximum loanable amount is equivalent to a 12-month loan.
For example:
The loanable amount depends not only on the total premiums posted but as well as the basic monthly salary of the member-borrower. Thus, if you have posted at least 15 years of total contributions and your basic monthly salary is Php 20,000, you may borrow up to Php 240,000.
The Government Service Insurance System applies a 12% per annum interest rate compounded yearly. The interest implementation is on a diminishing balance. Meanwhile, with regards to the loanable amount, you may always choose a lower amount that the amount that you are allowed to borrow.
GSIS Enhanced Conso-Loan Plus Repayment
How long you may be allowed to repay the loan? For GSIS member-borrowers who have posted at least 15 years of total premiums, you may repay the amount you borrowed for up to 10 years.
How To Apply for the GSIS Enhanced Conso-Loan Program?
To apply for the GSIS Enhanced Conso-Loan Plus offer, you can do it through the GSIS Wireless Automated System (GWAPS) kiosks. They are found 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.
If GSIS approves your loan application, the proceeds will be electronically credited to the GSIS e-Card or unified multipurpose identification (UMID) card of the GSIS member-borrower.
The Government Service Insurance System has several loan offers as mentioned. It also has the GSIS Multi-Purpose Loan Flex.