THE Government Service Insurance System (GSIS) launched a loan buyout program, offering government workers a chance to consolidate their debts at interest rates as low as six percent.
GSIS President and General Manager Wick Veloso emphasized the pension fund’s mission to shield members from excessive interest rates in the lending market.
MPL Max offers qualified borrowers the opportunity to borrow up to 19 times their salary or P5 million, whichever is lower, with payment terms extending up to 10 years.
To qualify, members must have paid at least one month of premium contributions within the past 6 months, have no existing multipurpose loans and no defaulted GSIS Financial Assistance Loans.
Required documents…
