Guide on Whether or Not GSIS Housing Loan is Covered Under Agency’s Multipurpose Loan
GSIS HOUSING LOAN – Here is a guide on whether or not this Government Service Insurance System Loan is covered under the GSIS Multipurpose Loan.
The Government Service Insurance System or more commonly called as GSIS has phased out its Enhanced Conso Loan Plus offer. It aimed to consolidate the existing loans of a member into a single loan.
Meanwhile, the GSIS got a new loan offer – the Multipurpose Loan or the MPL. It also aims to provide a credit line to the borrower and merge the existing loans into a single loan offer.
Do you want to know who are eligible to apply for a multipurpose loan to GSIS? You may visit – GSIS Multipurpose Loan – Who Are Eligible To Apply For This Loan Offer.
Under this new loan offer, a member may borrow up to 14 times of his or her basic monthly salary but not over P3 million. The state-run social insurance institution offers waived surcharges for members who’ll have their first time to avail this new loan offer.
A lot of members of the Government Service Insurance System have outstanding GSIS Housing Loan. However, according to the state-run government agency, it is not covered under the multipurpose loan offer.
Here is a list of what is covered under the GSIS Multipurpose Loan:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
- Conso-Loan Plus or Enhanced Conso-Loan Plus
- Member’s Cash Advance
- eCard Cash Advance
- eCard Plus Cash Advance
- Emergency Loan
- Home Emergency Loan Program (HELP)
- Education Assistance Loan I and II
- Fly Pal, Pay Later
- Study Now, Pay Later
- Stock Purchase Loan
To apply for the GSIS Multipurpose Loan offer, you may visit the branch of GSIS nearest to you.
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