Guide on GSIS Enhanced Conso-Loan Application for Debt Consolidation
GSIS ENHANCED CONSO-LOAN – Here is a guide on whether or not a member with existing Conso-Loan to the Government Service Insurance System may apply for another loan.
One of the government agencies that offer loans to its members is the Government Service Insurance System. More commonly called GSIS, it has a lot to offer including a loan that can consolidate all your existing loans.
The said loan offer is the Enhanced Conso-Loan. It can consolidate your existing salary loan, restructured salary loan, enhanced salary loan, emergency loan assistance, and summer one-month salary loan into a single loan.
The good thing about consolidating your loan is that you can escape from multiple interests. Stuck interests can really be heavy for the pocket and can make it harder for you to free yourself from loans.
Do you want to know who are eligible to apply for this loan offer? The member-applicant must:
- have no pending administrative case or criminal case
- not be on a leave of absence without pay
- have a net take-home pay of not less than the amount mandated under the General Appropriations Act
How about if you already have an existing GSIS Enhanced Conso-Loan? Can you still apply for another loan of the same type?
According to GSIS, a member with an existing GSIS Enhanced Conso-Loan may still apply for a loan renewal. As long as the new loan has proceeds after subtracting the balance of the current loan, the application may be processed.
Do you want to know how much you can borrow under this loan offer? Feel free to visit – GSIS CONSOLIDATED LOAN: List of Loanable Amounts Based on Contribution.
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