GSIS to Start Dunning Due and Demandable Accounts in November 2018

In its effort to enhance its collection from overdue loan accounts, and encourage responsible borrowing among members, the GSIS will strictly implement Dunning effective November 1, 2018 resulting in the imposition of interest and penalties for overdue accounts.

Read Also: GSIS Scholarship Program Application Form

What is Dunning?

Dunning is defined as the process of attempting to collect on account receivable, which occurs when customers do not pay promptly and/or in full.

This means that loan accounts with no paid amortization for more than six (6) months will be considered due and demandable or in default and will be subject to the interest and penalty below:

a. Interest equivalent to 12% per annum compounded monthly (p.a.c.m.) to be computed on the total outstanding obligation; and

b. Penalty of 6% p.a.c.m. from the date of default until the date of full payment.

All GSIS members are therefore encourage to settle their outstanding obligations before November 1, 2018 to avoid further charges from accruing on their loan accounts, whether such are in default or in arrears.

The outstanding balances of due and demandable loan accounts will continue to increase and incur interest and penalty charges overtime. If left unpaid, for a longer period, loan obligations, which include interest and penalties, may even exceed and impair the benefits of members as this will be deducted from their retirement, separation or life insurance benefits.


This GSIS Memorandum Circular No. 003 Series of 2018 was signed by Jesus Clint O. Aranas, GSIS President and General Manager. This was posted at the GSIS Official Facebook Page.

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1 Comment

  1. good day, gusto q lang malaman po kung bakit wala aq natatanggap n dividendo s gsis, ilan taon n din po wala aq nakukuha,

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