GSIS launches new accessible loan program for members

GSIS Building (File photo by SwarmCheng – Own work, CC BY-SA 4.0)

By Wilnard Bacelonia, Philippine News Agency

MANILA – The Government Service Insurance System (GSIS) has launched the Multi-Purpose Loan (MPL) Lite program to help its members quickly bridge or cover unexpected expenses and temporary budget gaps.

“As we reaffirm our commitment to deliver meaningful and significant products and services to our members, the GSIS has developed this program to provide accessible and affordable financial solutions that aim to honor their contributions,” GSIS President and General Manager Wick Veloso said in a news release late Monday.

“With e-crediting, hassle-free way to access funds and streamlined application process, government workers have a safe and reliable financial option at their fingertips,” he added.

According to the GSIS, the MPL Lite offers accessible financing that ranges from PHP5,000 to PHP50,000 (multiple of five) with flexible repayment terms of six, 12, 18 or 24 months.

It has a competitive interest rate of 6 percent or 7 percent, based on years of service.

It includes a one-time loan redemption insurance fully deducted upfront without fees for early repayment, and without service fee for those who have active MPL Flex.

MPL Lite is available in the GSIS Touch mobile app, which simplifies the application process.

Once approved, funds are credited within three days.

If any member requires assistance in using the GSIS Touch mobile app, the GSIS dedicated customer service is available to assist 24/7.

They may call the GSIS Contact Center at 8847-4747 (Metro Manila) or 1-800-8-847-4747 (Globe and TM subscribers) or 1-800-10-847-4747 (Smart, Sun, and TNT subscribers).

For more information about the MPL Lite program and other GSIS product offerings, members may visit the GSIS website at www.gsis.gov.ph , follow the GSIS Facebook page (@GSIS.PH), email gsiscares@gsis.gov.ph or contact the numbers provided in the website.