Features of GSIS MPL Lite Cash Loan Offer for Members
GSIS MPL LITE CASH LOAN – Government Service Insurance System members may apply for cash loan even with just one (1) monthly contribution posted.
A huge part of the Filipino populace is composed of members of the Government Service Insurance System or more commonly called GSIS. Most of its members are individuals who are working in the government as it is mandated among the government employees to be members of the social insurance giant.
There are also a lot of GSIS pensioners across the Philippines. Many former government employees who have transferred their employment to the private sector have also maintained their membership to the state-run social insurance giant.
The Government Service Insurance System has several loan offers for its members apart from the benefit. In fact, through the years, it has continuously grow its offers. Aside from the GSIS MPL Flex, another new addition to the state entity’s loans is the GSIS MPL Lite cash loan.
The GSIS MPL Lite cash loan is open even for members who have posted only one (1) monthly contribution to the state entity. Under the loan offer, the loanable amount is up to Php 50,000.
This cash loan offer is multi-purpose. You may apply for it to buy your target car accessories, travel, host an event, pay for the school fees of your child, get some beautiful personal purchases, etc.
The GSIS MPL Lite cash loan is open for members of the Government Service Insurance System who have a “sufficient Net Take Home Pay (NTHP) to qualify for additional GSIS loan/s or renewal of existing loans”.
The minimum loanable amount under the offer is Php 5,000. The borrowing amount allowed by the social insurance giant depends on the net take-home pay of the member-borrower.
With regards to the interest rates under the GSIS loan offer, it depends on the PPP as well as the borrowed amount. Here’s a guide:
| PPP | Amount | Interest Rate |
| at least 10 years | Php 50,000 | 6% |
| at least 3 years but less than 10 years | Php 30,000 | 6% |
| less than 3 years | Php 20,000 | 7% |
| special members | Php 50,000 | 7% |
How long you may repay the amount borrowed under the GSIS MPL Lite? The social insurance giant allows repayment terms among 6, 12, 18, or 24 months. In applying for the loan offer, there are some requirements for the GSIS MPL Lite application.