GSIS Multipurpose Loan: Who Are Qualified To Apply For It

Guide on GSIS Multipurpose Loan Application Qualifications

GSIS MULTIPURPOSE LOAN – Here is a guide on who are qualified to apply for this loan offer from the Government Service Insurance System (GSIS).

In the Philippines, one of the popular giant social insurance agencies is the Government Service Insurance System or more commonly called GSIS. Most Filipinos who are working in the government and the public agencies are members of this social insurance firm.

The GSIS members contribute or remit a certain part of their salary to the social insurance agency every month. The contribution is based on the monthly salary of the member.

A GSIS member may be eligible for the offers of the Government Service Insurance System based on his or her total accumulated savings or contributions. Every offer comes with qualifications that include the minimum number or amount of savings.

GSIS has several loan offers for its members and a member may acquire multiple loan provided that he or she is eligible for the offers based on the total savings or contributions. However, multiple loans may also be equal to multiple interests.

In most cases, the members acquired multiple loans as they got different purposes – funding a project, renovating the house, expanding the business, etc. Are you one of those who had several multiple loans before you even noticed the growing interests?

The Government Service Insurance System has a new offer – the GSIS Multipurpose Loan. You may apply for it and consolidate your loans so you can avoid multiple interests.

Who are qualified to apply for the GSIS Multipurpose Loan? To be eligible, the GSIS member must:

• be an active and special GSIS member who has paid at least three (3) months of premiums
• not be on a leave of absence without pay
• have no pending administrative or criminal case
• have no arrears under the GSIS Financial Assistance Loan (GFAL) or GSIS Housing Loan
• working in agencies with existing Memorandum of Agreement (MOA) with GSIS

The application for this loan offer may be done over-the-counter at all branches of GSIS. It can also be availed at GSIS extension offices.

You may also visit – GSIS LOANS – 3 Ways To Apply For GSIS Loan Offer