GSIS Multi-Purpose Loan | How & Loanable Amount

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?

1. MPL Application Form (Download Here);
2. UMID ID or GSIS eCard or any two valid IDs; and
3. 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