GSIS New Loan Offer is Multipurpose Loan
GSIS NEW LOAN – The Government Service Insurance System replaced the Enhanced Conso-Loan Plus with the Multipurpose Loan.
The Government Service Insurance System or more commonly called as GSIS is one of the biggest social insurance institutions in the Philippines. Most government employees are members of the said social insurance institution.
If you are a GSIS member, you will have to pay a monthly contribution or savings. It will depend on your salary and accumulated savings can make you eligible for the loans offered by the social insurance institution.
GSIS got several loans. It offers emergency or calamity, salary, insurance policy, and pensioner loans among others.
Previously, the social insurance institution offered the Enhanced Conso Loan Plus. It aimed to consolidate the member’s existing loans into a single loan. It can help you save from the interest.
However, recently, the social insurance institution decided to diminish the Enhanced Conso Loan Plus. Meanwhile, GSIS got a new loan offer to replace the ECP – the Multipurpose Loan or MPL.
According to GSIS, the new loan offer “gives borrowers an additional credit line” that can help them combine their existing loans into a single loan. One good thing is that first-time availees of this multipurpose loan offer can avail waived surcharges on the balance of their outstanding loan.
GSIS President and General Manager (PGM) Rolando Ledesma said that the multipurpose loan offer members with affordable terms in loan repayment. Those members who applied for the Enhanced Conso Loan Plus but whose applications were not approved yet may apply for this offer.
Do you want to know who are eligible to apply for it? You may visit – GSIS Multipurpose Loan – Who Are Eligible To Apply For This Loan Offer.
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READ ALSO: GSIS LOANS: Members May Now Apply For GSIS Loan Offers Online
Reloan
kung halimbawang mag MPL po ako ideduct po ba doon yung dating utang sa consoloan.
How many days is the processing of GSIS MULTIPURPOSE LOAN? I applied last October 02,2020 via online egsimo
Kindly check if i am qualified for a MPL since my conso.balance is quite big. Tnx.
Please ask lang po when po marelease yong MPL application ko.It is almost a month now..
I applied for MPL loan but denied due to arrears in GFAL accrued during the pandemic where two months loan payments were not collected from us…
can i ask for d monthly amortization if ever I’m going to avail MPL po..thanks po.