GSIS grants over ₧200 billion in loans to more than 1 million members, pensioners

Government Service Insurance System (GSIS) President and General Manager Rolando Ledesma Macasaet reported on Friday that it has released P208 billion in net loan proceeds to over a million members and pensioners since 2019.

Through its various loan products “GSIS has provided assistance to countless lives at a time when they needed our help the most,” Macasaet said in a news statement.

These include:

  • More than P108 billion to nearly 292,000 members who applied for the GSIS Financial Assistance Loan (GFAL).
  • More than P16 billion to 256,537 availees of the Multipurpose Loan (MPL).
  • More than P17 billion in emergency loan to 902,696 members;
  • Over P5 billion in computer loan to 171,208 borrowers.
  • P3.21 billion and P980.22 million for GSIS pensioners who availed of the Enhanced Pension Loan (82,894) and Pensioners’ Emergency Loan (50,195), respectively.
  • P20.42 million to 655 members through the GFAL Educational Loan program, which allows recipients to finish their college degrees while paying only the interest to their loans for the next five years.
  • P50 million to 5,025 college students under the P10,000/year Educational Subsidy Program (GESP).

He pointed out that the “multiplier effect of the loans in the communities have effectively pump-primed the economy in far-flung areas as banks and other financial institutions have tightened and were hesitant to grant credit.”

At the same time, Macasaet said that GSIS has made it safer and more convenient for its members and pensioners to transact with the pension fund “through technology-driven initiatives such as Online APIR, G-TOUCH mobile app and Bayad Center partnership.”

“Despite the many uncertainties and limitations brought about by the Covid pandemic, we have not wavered in our service commitment,” he stressed.

Interested borrowers who have inquiries on GSIS’s Ginhawa financial assistance programs may visit the GSIS website, www.gsis.gov.ph or GSIS Facebook page, @gsis.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).

Total
2
Shares

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Article

Pag-IBIG reports record-high home loans in first four months of 2021

Next Article

IATF and PRC: Licensure exams from July to September‘provisionally’ OK’d to push through

Related Posts

PHL govt working ‘double time’ to save seafarers’ jobs

THE Department of Transportation (DOTr) said on Sunday the government is “working double time to save the jobs of 49,000 Filipino seafarers aboard European ships and the $7 billion they send home each year,” as it awaits the European Commission’s (EC) “impending action” on its 16-year issues with international training standards.

Total
2
Share