GSIS LOAN AMOUNT-INTEREST: How Much You May Borrow From GSIS

Details About GSIS Loan Amount or How Much You May Borrow and the Interest

GSIS LOAN AMOUNT & INTEREST – Here are some details on how much you may borrow from the Government Service Insurance System through loan and the interest.

Among the perks and privileges of being a member of the Government Service Insurance System or more commonly known as GSIS is that members can be eligible for certain loans.

The social insurance program offers several kinds of loans including the Conso-Loan, the Emergency Loan, and the Policy Loan. Surely, at some point in time, these loans are helpful to a lot of people.

Many of you surely wonder on the GSIS loan amount or how much you may borrow through loan and the interest. It actually depends on the kind of loan you are applying for and, in some cases, your total number of monthly contributions.

Here are some details over the GSIS loan amount or how much you may borrow from the program through loan and the interest according to an article in Cash Mart:

Enhanced Conso-Loan

The minimum loan amount if you are applying for the Conso-Loan is Php 15,000.00 according to the article. With regards to the interest rate per annum, it will be at 12%.

Here is a list of the maximum GSIS loan amount for this type of loan according to the social insurance program:

Policy Loan

According to the article, the Life Endowment Policy or ELP offers 70% of the accumulated termination value of the policy of the member-borrower. The interest rate is compounded at 8% monthly.

If you have the Enhanced Life Policy or ELP, you can avail 50% of your cash value and the interest rate will be at 8% compounded annually.

Emergency Loan

A Php 20,000.00 GSIS Loan Amount awaits the member-borrower with no Emergency Loan account based on the article.

For those who have an existing loan account, the money that a member may borrow is amounting to Php 40,000.00. With regards to the interest rate, it will be at 6% computed in advance.

Pension Loan

With regards to the Pension Loan, the following is observed with 10% interest per annum according to the article:

• If the borrower is between 60-64 years old, he or she may loan a maximum of six(6) times his or her basic monthly pension not exceeding Php 100,000.00.
• If the borrower is between 65-69 years old, he or she may loan a maximum of four(4) times his or her BMP not exceeding Php 60,000.00.
• If the borrower is 70 years old and above, he or she may loan two(2) times his or her BMP but limited to Php 20,000.00.

Based on the article, aside the Pension Loan, senior citizen members of the GSIS may apply for Pensioners Emergency Loan. It has a maximum GSIS loan amount of Php 20,000.00 with 6% interest rate per year.