Guide on GSIS Enhanced Conso-Loan Plus 2023 Offer for Qualified Members
GSIS ENHANCED CONSO-LOAN PLUS 2023 – Here are the features of this loan offer of the Government Service Insurance System and the application.
In the Philippines, one of the biggest state-run social insurance institutions is the Government Service Insurance System, more popularly called GSIS. Millions of Filipinos are GSIS members. They are former or current workers in the government.
Every month, the members of the Government Service Insurance System submit a certain amount to keep their accounts updated. Maintaining an active and update account is necessary for eligibility to the different GSIS Benefits 2023.
Aside from the benefit offers, the state-run social insurance institution also offers loans which come in different types. One of these is the GSIS Enhanced Conso-Loan Plus.
The Enhanced Conso-Loan Plus offer of the Government Service Insurance System aims to consolidate all the loans of a member under the state-run social insurance institution into a single loan. It waives penalties and surcharges. The following loans are convered for consolidation:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary Loan
Qualifications. The GSIS Enhanced Conso-Loan Plus 2023 is open for permanent and non-permanent members who have at least 15 years of periods with paid premiums (PPP), have no pending administrative or criminal case, are not on leave of absence without pay, and have a net take-home pay of not less than the amount mandated under the General Appropriations Act.
Loanable Amounts. With regards to the amounts that you may borrow under this loan offer of the GSIS, the maximum borrowing amount as well as the payment term depends on the premium payments a member has posted in his/her account. Here is a table provided by the state-run social insurance agency:
| Minimum GSIS Contributions Required | Maximum Loanable Amount | Loan Term |
| 20 months | 3-month loan | 6 years |
| 40 months | 4-month loan | 6 years |
| 5 years | 7-month loan | 6 years |
| 10 years | 10-month loan | 10 years |
| 15 years | 12-month loan | 10 years |
| 25 years | 14-month loan | 10 years |
Interest. The interest rate implemented by GSIS under this loan offer is at 12% per annum compounded every year based on diminishing balance. The loan is payable for up to 10 years depending on the premiums posted by the member-borrower.
How To Apply. To apply for the GSIS Enhanced Conso-Loan Plus 2023 offer, simply visit a branch of the Government Service Insurance System nearest to you with your eCard or UMID Card and apply for the loan offer through the GWAPS kiosk.