Members told to avail of GSIS ‘Consoloan’

The Government Service and Insurance System is encouraging its members to avail of a single loan that will consolidate all the other existing loans they have with the said agency.

In the recently held media forum GSIS information officer Mitos Galicinao said that government workers can consolidate all their loans into a single loan for convenience.

Dubbed as Conso-Loan Plus, it is a loan window of GSIS that consolidates the members salary, restructured salary, enhanced salary, emergency and summer one-month salary loans.

It can grant a higher loanable amount with the additional amount of twice the basic monthly salary on top of the existing salary loan.

Galicinao said, if a member is in default or experiencing difficulty in facing these loans and have incurred arrears, penalties and surcharges in the process, the Conso-Loan Plus will provide an opportunity to restore the status of good standing as a member and lower monthly amortization.

"But the condonation of penalties can only be enjoyed upon availment for the first time," Galicinao said.

Qualified are active members with no pending administrative and or criminal case provided they have remitted at least three premium payments, not on AWOL and take home pay should be sufficient to cover the regular monthly amortization.

Its interest rate is 12 percent base on diminishing balance.

Loans can be applied through the GSIS E-Card Plus Kiosks for those already with the new cards or manually yet at the GSIS office.

There are around 45,000 active and pensioner members of GSIS in the entire Central Visayas. — Ferliza C. Contratista/BRP