THE Government Service Insurance System (GSIS) announced on Jan. 24, 2025 a more borrower-friendly approach to the computation of penalties on delinquent loan accounts designed to provide greater flexibility for members.
THE Government Service Insurance System announced on Jan. 24, 2025 a more borrower-friendly approach to the computation of penalties on delinquent loan accounts designed to provide greater flexibility for members.This policy shift aims to ease the financial burden on GSIS borrowers while encouraging prompt payments and the resolution of outstanding balances.
Under the new policy, borrowers can reinstate their accounts to good standing by settling all unpaid amortizations, including the corresponding penalty charges.For members unable to pay the full amount immediately, GSIS will accept partial payments on accounts with arrears up to six months.This relaxation of penalty rules will help borrowers improve their credit standing while also giving them the opportunity to regain eligibility for GSIS loan programs.
Offers New Borrower-Friendly Approach To Overdue Loan Penalties
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GSIS MPL Programs Provide Crucial Financial Support to Over 1.2 Million Government Employees in 2024GSIS's Multi-Purpose Loan (MPL) programs, particularly MPL Flex, have disbursed a record P282 billion, benefiting over 1 million government employees in 2024. The program offers flexible loan terms, aiding individuals and communities while reflecting GSIS's strong financial performance.
Read more »
GSIS Loan Programs Empower over 1.2 Million Government Employees in 2024The Government Service Insurance System (GSIS) achieved remarkable success with its loan programs in 2024, providing crucial financial support to over 1.2 million government employees nationwide. The GSIS's Multipurpose Loan (MPL) initiatives disbursed a combined total of P289.2 billion, with the flagship MPL Flex program disbursing P282 billion.
Read more »
GSIS, PGEA create speakers' bureau to fight fake newsTHE Government Service Insurance System (GSIS) and the Philippine Government Employees Association (PGEA) will soon roll out a joint Speakers' Bureau to enhance member education of their GSIS benefits and serve as a platform to address GSIS members' concerns while actively fighting 'fake news.
Read more »
GSIS Disburses Record P289 Billion in Multi-Purpose LoansThe Government Service Insurance System (GSIS) announced a record P289 billion disbursed for its Multi-Purpose Loan (MPL) programs, providing financial support to over 1.2 million government employees nationwide. MPL Flex, launched in September, has disbursed P282 billion to 1,049,246 members, while MPL Lite extended P7.2 billion to 197,675 members. MPL Flex consolidates existing loans (excluding housing) and provides an additional fund for any purpose, while MPL Lite offers short-term loans for immediate needs. The GSIS's robust financial standing, with total assets reaching P1.8 trillion and net income from operations jumping 58% to P120 billion, supports its loan disbursement efforts.
Read more »
GSIS disburses record P289b in multi-purpose loansThe Government Service Insurance System’s flagship loan initiative reached new heights in 2024, with its multi-purpose loan (MPL) programs providing
Read more »
GSIS’s Q3 figures reveal robust financial health | Reine Juvierre S. AlbertoTHE Government Service Insurance System (GSIS) announced that it booked a P258-billion revenue as of the third quarter of 2024. In a statement on Saturday, GSIS reported its overall revenue reached P258 billion as of the third quarter.
Read more »