Guide on GSIS Pension Loan New Maximum Loanable Amount
GSIS PENSION LOAN – The Government Service Insurance System (GSIS) has increased the maximum loanable amount under the Enhanced Pensione Loan.
Members of the Government Service Insurance System (GSIS) who pay regularly pay for the monthly savings may be qualified to its benefits and offers. Among these are the loans.
One of the GSIS loan offers is the GSIS Enhanced Pension Loan for the old-age members of the social insurance institution. Senior members may apply for it for their other expenses.
Under the said loan offer, the borrowed amount can be paid for up to 24 months. The monthly due is fixed based on the borrowed amount and it will be deducted automatically from the pension.
Under the said GSIS Pension Loan, the previous credit limit set by the social insurance institution was Php 100,000.00 – meaning the pensioners cannot borrow more than the said amount.
Recently, the Government Service Insurance System increased the maximum loanable amount under the GSIS Pension Loan. From Php 100,000.00, a pensioner may now borrow up to Php 500,000.00. It is in line with the pursuit to financially assist the senior members of the social insurance institution most especially amid the COVID-19 pandemic now.
With regards to the loan term, the borrowed amount may be paid for up to 24 months. The monthly due is fixed and will automatically be deducted from the pension of the borrower.
There are eligibility requirements observed by GSIS upon the application. To check for these requirements, you may visit – GSIS Enhanced Pension Loan – Who Are Qualified To Apply For It.
For a guide on how to apply online, feel free to visit – GSIS Loan Online Application – How To Apply Online & Requirements.
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