How To Apply For the GSIS Conso-Loan & Its Benefits
GSIS CONSO-LOAN – Here is a guide on the benefits of the Government Service Insurance System’s Enhanced Conso-Loan and how to apply for it.
One of the biggest social insurance institutions in the Philippines is the Government Service Insurance System or more commonly called GSIS. Among its benefits are loan offers including the GSIS Emergency Loan.
Aside from the said loan, the social insurance institution which governs the insurance of most employees working in the government and public sectors also offer a consolidated loan.
The GSIS Enhanced Consolidated Loan or GSIS Conso-Loan is for the purpose of the consolidation of the borrower’s outstanding loans covering:
- Salary Loan
- Restructured Salary Loan
- Enhanced Salary Loan
- Emergency Loan Assistance, and
- Summer One-Month Salary
Based on the official website of the Government Service System (GSIS), the outstanding balances of the aforementioned loans will be liquidated and penalties and surcharges would be deducted.
That is another benefit of the loan aside from its installment form.
Members of the social insurance institution are eligible for the GSIS Conso-Loan provided that they meet the terms. Here are the requirements for the Consolidated Loan:
The applicant must:
- be in service for at least 15 years
- have paid premiums
- have no pending cases
- not be on leave of absence without pay
- have a net take-home pay not less than the amount on the General Appropriations Act after the monthly amortization has been deducted
- have a computed loanable amount of not less than Php 15,000.00
With regards to the application for the GSIS Conso-Loan, according to the government institution, it can be done through the GSIS Wireless Automated System (GWAPS) Kiosks in some branches.
Here are the steps:
- Insert your eCard on the machine.
- Choose Loan Windows icon and select the kind of loan you want to apply for.
- Update your mobile number.
- Read the Application Agreement and touch the “Agree” icon if you agree with the terms and want to proceed with your loan application.
- Verify your application using the biometrics.
- Wait for the text message regarding the status of your loan application.
Thank you for visiting our website. We hope we have helped you with regards to applying for a GSIS Consolidated loan. You may keep coming back for more informative guides.
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