GSIS computer loan plan runs until June

MANILA, Philippines — State-run Government Service Insurance System (GSIS) is giving qualified members more time to avail of a computer loan facility for their work-from-home arrangements and distance learning set up for their children.

GSIS president and general manager Rolando Ledesma Macasaet said the pension fund manager has reopened and extended the Ginhawa for All (GFAL) computer loan until June 30 to allow more members to take advantage of the facility.

“Hopefully, the additional three-­month application period will give them sufficient time to apply for the loan,” Macasaet said.

The facility is a loan window that grants a P30,000-assistance to GSIS members for the purchase of a computer unit for their work-from-home arrangement or their children’s virtual classes.

Last year, GSIS disbursed over P6.9 billion benefitting 230,205 borrowers.

Under the program, GSIS members may borrow P30,000, payable in three years at a six percent interest per annum.

“The monthly amortization for the loan is only P983.33 and application may be done online through the newly launched GSIS Touch mobile app, the GSIS Wireless Automated Processing System (GWAPS) kiosks, over-the-counter, or through drop boxes in all GSIS branches and extension offices nationwide,” Macasaet said.

Qualified to apply for the loan are active members with permanent appointments who have at least three monthly premium contributions for both personal and government shares; employed in an agency that is not classified as “suspended;” have no pending administrative or criminal case; and are not on leave of absence without pay.

In addition, they should have no GSIS Financial Assistance Loan arrearages; no past due GSIS loan (except housing loan); and have a minimum net take-home pay requirement as provided in the General Appropriations Act after all required monthly obligations have been deducted.

The proceeds of the loan will be credited to the borrower’s GSIS eCard or Unified Multipurpose Identification (UMID) card.