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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.Like the SSS, the GSIS also offer several kinds of loan to its members.
One of the biggest social insurance institutions in the Philippines is the Government Service Insurance System or more commonly called GSIS.MANILA, Philippines – Over 1,000 employees of the San Juan City government will now have an easier time applying for loans with the Government Service Insurance System (GSIS) starting Tuesday, August 20, The San Juan City government and the GSIS on Tuesday, August 20, signed a memorandum of agreement making application to the GSIS Financial Assistance Loan (GFAL) program easier for San Juan Government employees.The GFAL program is a “debt-consolidation and balance-transfer facility” that allows its members to settle outstanding loans with private lending institutions and government banks or cooperatives.The GFAL will start its implementation on May 15, 2018.The GFAL or GSIS Financial Assistance Loan is a Government Service Insurance System (GSIS) program whereby the GSIS will pay the outstanding loan balance of the Department of Education (Dep Ed) employees to any of the 213 private lending institutions accredited by the Dep Ed. The borrower will pay the GSIS for a period of six years or 72 equal monthly installments. The loanable amount will be computed based on the final statement of account (SOA) included in the submitted GFAL application documents.