The Government Service Insurance System (GSIS) has disbursed P322.2 billion to date under its loan initiatives, extending financial support to about 1.2 million government employees nationwide.
In an interview on Monday with the government TV show Bagong Pilipinas Ngayon, GSIS President and General Manager Jose Arnulfo Veloso said the pension fund’s Multi-Purpose Loan (MPL) Flex program has lent P315 billion since it started in September 2023, benefitting more than one million members.
“Meanwhile, the MPL Lite was launched last October for members who have urgent needs. As of January 2025, we have been able to lend P7.2 billion to nearly 200,000 members under MPL Lite,” he said.
The MPL Flex lending scheme allows members to borrow up to 14 times their monthly base pay, but not more than P5 million.
It carries an annual interest rate of 6 percent and a repayment period of up to 15 years.
The MPL Lite offers financing from P5,000 to P50,000 in multiples of five, with flexible repayment terms of six, 12, 18 or 24 months.
It charges 6 or 7 percent interest, based on an employee’s length of service.
Veloso previously said the rapid growth of MPL Flex in less than two years demonstrated its effectiveness in relation to the significant demand for flexible financial solutions among members of GSIS.
Members can complete their loan applications online through the pension fund’s digital platforms.
The GSIS Touch mobile app offers 24/7 access to loan services, allowing members to apply, track their applications and manage their accounts day and night wherever they are.
