GSIS loan program disburses over PHP200 billion in first year

The Government Service Insurance System’s (GSIS) flagship loan program, Multi-Purpose Loan Flex (MPL Flex), has disbursed over PHP208 billion to nearly 800,000 members in its first year of implementation.

Launched in September 2023, MPL Flex offers government employees a flexible financial solution with a competitive interest rate of 6% and repayment terms of up to 15 years. The program allows members to borrow up to 14 times their monthly salary, with a maximum loan limit of PHP5 million.

GSIS President and General Manager Wick Veloso emphasized the program’s benefits for public servants seeking financial support, saying, “Loan proceeds can be used as seed capital for small businesses, providing an additional stream of income. I encourage our members to maximize the benefits of MPL Flex for personal and investment purposes.”

The loan program has gained traction among eligible active and special GSIS members who have made at least one-month premium payment and maintain a minimum net take-home pay of PHP5,000 after deductions, as required by the General Appropriations Act.

Members can apply through the GSIS Touch mobile app or the GSIS Wireless Automated Processing System (GWAPS) kiosks, ensuring a fast and paperless loan process. Approved loans are credited within a day to the member’s GSIS e-Card account, following agency officer approval.

In celebration of the program’s success, GSIS also launched a “GSIS Touch and Win” raffle, giving members who availed of the loan via GSIS Touch or GWAPS another opportunity to win. A total of PHP1.5 million in prizes will be awarded, with 300 lucky winners receiving PHP5,000 each.

“This unprecedented milestone of MPL Flex’s first anniversary only strengthens the GSIS mandate to continue to provide accessible loans to our members,” Veloso added.

“The MPL Flex Loan Program is a vital resource in helping them achieve their financial goals while ensuring overall well-being.”