Guide on the GSIS Multi-Purpose Loan Interest Rate for Borrowers
GSIS MULTI-PURPOSE LOAN INTEREST – Here are important details about the MPL offer that the applying members must be aware of.
Are you a member of the Government Service Insurance System with multiple loans? Truth be told that the high costs of living in the Philippines now has left a lot of Filipinos with a lot outstanding loans.
Meanwhile, these loans have helped the members meet their financial needs amid the different situations. In the case of GSIS members, there are several loan offers such as the following:
- GSIS Emergency Loan
- GSIS Enhanced Consolidated Loan Plus / Conso-Loan
- GSIS Policy Loan
- GSIS Multi-Purpose Loan
Aside from the aforementioned loans, the GSIS has several other special loan offers including the Stock Purchase Loan (SPL). However, while there is a wide access for members with regards to loans, there is also a huge financial challenge in dealing with multiple interest rates.
Meanwhile, in the case of GSIS offers, there is a Multi-Purpose Loan that can help members who are dealing with multiple loans. Through it, a member may have the chance of dealing only with one interest rate and waiving some surcharges of the existing loans.
How much is the GSIS Multi-Purpose Loan interest? The Government Service Insurance System has set 7% as the interest rate per annum computed in advance for members with at least three-year PPP.
In the case of members who have at least three (3) years of PPP and the special members who have a total of three-year length of service or more, the GSIS Multi-Purpose Loan interest rate is 8%.
The member has an option on how much he/she wants to borrow and how long he/she will repay the loan. In applying for the loan offer, there a few documentary requirements that a member must submit and there are several ways to choose from in applying for the loan offer.
