GSIS Multipurpose Loan MPL – How Much You Can Borrow Under It

Guide on GSIS Multipurpose Loan MPL Minimum & Maximum Loanable Amounts

GSIS MULTIPURPOSE LOAN MPL – Here is a guide on how much you can borrow under this Government Service Insurance System (GSIS) loan offer.

The Government Service Insurance System or more commonly called as GSIS got a new loan offer – the Multipurpose Loan. It replaces the Enhanced Conso Loan Plus offer of the social insurance institution.

The Enhanced Conso Loan Plus consolidates several existing loans into a single loan. It combines the different loans such as the following:

  1. Salary Loan
  2. Restructured Salary Loan
  3. Enhanced Salary Loan
  4. Emergency Loan Assistance, and
  5. Summer One-Month Salary

However, the social insurance institution decided to phase out the Enhanced Conso Loan Plus. A new loan offer was introduced – the GSIS Multipurpose Loan or MPL.

GSIS Multipurpose Loan MPL

The MPL gives the member-borrower an additional credit line to consolidate his or her outstanding loans. According to GSIS President Rolando Macasaet, it “offers members affordable payment terms”.

The said multipurpose loan offer also “prevents penalties incurred by members” for the unpaid loans to the social insurance institution from ballooning.

With regard to the loanable amounts under the GSIS Multipurpose Loan or MPL, a member may borrow up to 14 times of their basic monthly salary but not over P3 million.

To be eligible to apply for this loan offer, the member must be working in an agency with a Memorandum of Agreement (MOA) with GSIS. Thus, the social insurance institution is encouraging companies to forge an agreement with them for the benefit of their employees. It is an excellent option in times of financial needs.

Thank you for visiting our website. We hope we have helped you with regard to this matter. You may keep coming back for more informative guides.

READ ALSO: GSIS Financial Assistance Loan – How To Apply For It & Requirements To Prepare

32 thoughts on “GSIS Multipurpose Loan MPL – How Much You Can Borrow Under It”

  1. So, this means i can no longer renew or reavail of my consol loan? If no MOA is made with our agency, will this mean we cannot avail of this MPL?

    Reply
  2. Oct. 7,2020
    GSIS Officer
    I am interested to avail gsis mploan but am already 59 years old, in 6years time i will retire. Shall my mpl loan be
    upon retiring full payment?
    Further, another agreement will be made before between caraga regional hospital, surigao city the agency am working for before i can apply mpl? Yes?

    Reply
  3. ilan buwan po ba ang pwede ma loan sa multi purpose loan 35 yrs n p ako gsis member meron ako existing loan balances sa enhanced loan paano po b ang computation meron din ako emergency loan at educational loan .. thnks

    Reply
  4. I already apply thru online gsis multipurpose loan last Oct. 02, 2020 when will be my tentative commotion be send by your good office gsis, Can I have a copy of my tentative computation? How how many days will be will be released

    Reply
  5. I am interested in applying the multipurpose loan but I have an outstanding Consolidated Loan. Am I qualified to avail?

    Reply
  6. Good day….
    Sir, I just wanna ask if PNP agency has MOA with your agency? I am interested to avail MPL loan. Thank you and God Bless.

    Reply
  7. Thank you for this information and of course to this offer of the GSIS leadership. I am interested to GSIS MPL, i will i start? Thank you and more power.

    Reply

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