By: Richard Ley M. Portillas
The GSIS implemented the Enhanced Conso-Loan Plus Program started last July 1, 2015. Under the program, members who have at least 15 years of service with paid premiums may borrow a 12-month salary loan while those with not less than 25 years of service will be eligible for a 14-month loan. Previously, the credit limit for these members was only 10 times their salary. The program also extends the maximum payment term for the loan from six to 10 years for members with not less than 10 years of paid premiums.
In line with this, GSIS would like to inform their members of the following:
- The new conso-loan program is available in GWAPS kiosks located in all GSIS offices starting June 29, 2015. The operations of emergency and policy loan program in the kiosks located in agencies and malls also recommence on this date.
- The deployment of the new conso-loan program in DepEd agency, members may apply for other loans through the kiosks located in our office and malls. However, those who wish to avail of the new conso-loan program may do so in the kiosks located in any GSIS office.
- On the scheduled date of the deployment of the new loan program in our agency (DepEd), our GWAPS kiosk will be temporarily disabled. Once you have been informed of the successful deployment, members may proceed with kiosk loan applications.