Guide on Required Computed Loanable Amount Under GSIS Conso-Loan
GSIS COSO-LOAN – Here is a guide on whether you can apply for the Government Service Insurance System’s Enhanced Conso-Loan if your computed loanable amount is Php 15,000.00 or not.
The government employees and those working in the public sector in the Philippines are members of the Government Service Insurance System. More commonly called as GSIS, this social insurance institution got a lot of offers for its active members.
Among the offers of GSIS are the loans that got specific purposes. These are cash assistance provided to the members in the face of calamity, emergency, or even when the member is faced with numerous debts to pay.
If you have a lot debts or loans to pay and you wanted to combine it into a single loan, you may apply for GSIS Conso-Loan. It may consolidate the following loans:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance
- Summer One-Month Salary
The maximum loanable amount that you can borrow depends on the number of premium payments you have made. Here is a list of the minimum premium payments required and their corresponding maximum loanable amount:
- 25 years = 14-month basic salary
- 15 years = 12-month basic salary
- 10 years = 10-month basic salary
- 5 years = 7-month basic salary
- 40 months = 4-month basic salary
- 20 months = 3-month basic salary
Can a member with less than Php 15,000.00 loanable amount apply for GSIS Conso-Loan?
According to GSIS, members whose computed loanable amount is below Php 15,000.00 may not apply for the GSIS Conso-Loan. Their applications will not be processed by the social insurance institution.
If you surpass the limit and wanted to apply for this loan offer, the application process is simple. You may visit – GSIS CONSO-LOAN: Benefits of this Loan & How To Apply For It.
Thank you for visiting our website. We hope we have helped you with regards to this matter. You may keep coming back for more informative guides.
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