The new and improved Consolidated Loan (Conso-Loan) by the Government Service Insurance System (GSIS) is now called the Multi-Purpose Loan (MPL) Program. Starting on the first of October 2020, active GSIS members may apply for the MPL.
Compared to Conso-Loan, MPL has a lower interest rate. For as early as three months Period of Paid Premiums (PPP) prior to loan application, new government employee members are already eligible to apply for MPL. Moreover, members who have maxed out their credit limit under the Conso-Loan may still avail of the MPL.
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How to be eligible for the GSIS Multi-Purpose Loan
All active paying GSIS members may apply for the Multi-Purpose Loan Program. Particularly:
- Regular Active Members:
- Permanent employees without tenure or term;
- Non-permanent employees with term/tenure; and
- Permanent employees with term/tenure; and
- Special Members:
- Judges and Justices; and
- Members with existing Memorandum of Agreement (MOA) with GSIS.
What are the requirements?
- MPL Application Form (Download Here);
- UMID ID or GSIS eCard or any two valid IDs; and
- For regular members: Memorandum of Agreement (MOA) with GSIS duly signed by their agencies.
How to apply to GSIS MPL?
Starting on October 1, 2020, applicants for the Multi-Purpose Loan Program may submit their application through the following means:
- Over-the-Counter (OTC): available to all GSIS branches and extension offices nationwide;
- Dropbox: all GSIS branches;
- Email: here is the updated list of GSIS email addresses per members’ locations
- eGISMO online application; and
- GWAPS kiosks.
For Online Application: GSIS Online Loan Application | Step by Step Procedures
What is the loanable amount?
The borrowers have the freedom to select the amount of their loans based on their PPPs and Basic Monthly Salary (BMS) but shall not exceed Php 3,000,000.00.
The maximum loanable amount of the regular GSIS members are as follows:
PPP | MAXIMUM LOANABLE AMOUNT | |
PERMANENT WITHOUT TERM/TENURE | NON-PERMANENT OR PERMANENT WITH TERM/TENURE | |
3-19 months | 1 X BMS | — |
20 months to less than 3 years | 3 X BMS | 3 X BMS |
3 years to less than 5 years | 4 X BMS | 4 X BMS |
5 years to less than 10 years | 7 X BMS | 7 X BMS |
10 years to less than 15 years | 10 X BMS | 10 X BMS |
15 years and above | 14 X BMS | 14 X BMS |
For special members, the maximum loanable amount is increased to 14 months of their BMS.
What is the Loan Term?
For Regular Members, the loan term shall be as follows:
PPP | LOAN TERM | |
PERMANENT WITHOUT TERM/TENURE | NON-PERMANENT OR PERMANENT WITH TERM/TENURE | |
3-19 months | 3 years | — |
20 months to less than 3 years | 5 years | 2 years |
3 years to less than 5 years | 5 years | 2 years |
5 years to less than 10 years | 5 years | 2 years |
10 years to less than 15 years | 7 years | 5 years |
15 years and above | 7 years | 5 years |
For Special Members, the MPL term is in seven years, while the members with existing Home Emergency Loan Program (HELP) account, is a maximum of 10 years.
What are the interest rates for GSIS Multi-Purpose Loan?
For members with PPP of less than 3 years, the interest rate of MPL is eight percent (8%) per annum computed in advance. On the other hand, members with PPP of three years and more will have a seven percent (7%) per annum interest rate computed in advance.
For more information, you may contact GSIS through:
- GSIS Facebook account, @gsis.ph;
- email [email protected];
- Phone number:
- 8847-4747 (if in Metro Manila),
- 1-800-8-847-4747 (for Globe and TM subscribers),
- and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).
Source: gsis.gov.ph
MAAM/SIR I WOULD LIKE TO APPLY FOR AN MPL AT YOUR GOOD OFFICE
Please apply at the nearest GSIS office po.
Nagtry na Po ako mag apply Ng mpl, kso nakakadismaya, KC Ang pagkaalam ko Mababang interest at makakaloan pa ako Ng malaki, kso Ng ibigay SA akin Ang form ko 4200 na lng manenet ko, samantalang 2 taon na ako nakakabayad Ng consolidated loan ko. Lahat na diniduct pati ung kakaloan ko lng na calamity loan . Sigurado Po ba Kayo na makakatulong kayo SA mga guro gaya namin. Nung magkiosk ako Ang manenet ko eh 73,000. Nagconfirm ako kaso disapprove, samantalang Wala ako arrears 2 yrs ako kinakaltasan.
Kindly write a complaint letter and send it to GSIS office concerned.
Interested to apply for the MPL to the soonest time.
Can i avail mpl?
Yes. As long as you are qualified.
Greetings!
Please provide me a tentative computation of my MPL loan. thank you very much.
How!? Can I know the details and we need to processing for loan. Thanks and advance