GSIS Enhanced Pension Loan – Who Are Qualified To Apply For It

Guide on GSIS Enhanced Pension Loan Qualifications

GSIS ENHANCED PENSION LOAN – Here is a guide on who are qualified to apply for the Enhanced Pension Loan offer of the Government Service Insurance System.

Most people working in the government are members of the Government Service Insurance System. More commonly called GSIS, it is one of the biggest insurance companies in the Philippines. It is run by the state.

Every month, members of GSIS remit a part of their salary as savings in the institution. Accumulated savings qualify a member to the benefits and offers of the insurance institution including loans.

What members are looking forward to is the retirement benefit, specifically the GSIS Pension. It is a security that you will have something to turn to financially in your senior years.

Aside from the monthly pension, GSIS also has a loan offer for pensioners – the GSIS Enhanced Pension Loan. Like in other loans, it has set qualifications under this offer.

Who are qualified to apply for GSIS Enhanced Pension Loan? According to the social insurance institution, any old age GSIS pensioner who is receiving his or her pension for at least a month already may apply for the offer. Also, the borrower must have at least “25% resulting net monthly pension after loan deduction”.

You are not qualified if…

• you have a service loan being amortized under the Choice of Loan Amortization Schedule for Pensioners or GSIS Program for Restructuring and Repayment of Debts at the time of application
• you have an existing pension loan that has not yet been fully paid

According to GSIS, the loan is payable for up to 24 months under equal monthly installments. For a guide on how to apply online, feel free to visit – GSIS Loan Online Application – How To Apply Online & Requirements.

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

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