Guide on GSIS Conso-Loan Interest Rate Per Annum
GSIS CONSO-LOAN INTEREST – Here is a guide on the interest rate implemented by the Government Service Insurance System under this loan offer.
Do you have multiple loans and are having a hard time paying multiple loan interests as well? If you are a member of the Government Service Insurance System (GSIS), there is an excellent solution that the government agency offers.
One of the GSIS loan offers is the GSIS Enhanced Conso-Loan offer. It aims to consolidate the members loan such as the following into a single loan:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance, and
- Summer One-Month Salary
Do you want to know who may apply for the Enhanced Conso-Loan offer of the GSIS? To be eligible to apply for it, the applicant must be:
- a permanent or non-permanent GSIS member
- having no pending administrative or criminal case
- not on a leave of absence without pay
- having a net take home pay of not less than the amount mandated under the General Appropriations Act
To check on the requirements in applying for this loan offer, you may visit – GSIS CONSO-LOAN: Benefits of this Loan & How To Apply For It.
With regards to the GSIS Conso-Loan interest rate, according to the government agency, it is at 12% per annum. The interest rate is “compounded annually based on diminishing balance”.
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READ ALSO: GSIS BENEFITS – Full List of Benefits For GSIS Members
