Launched just last year in September, the flagship loan program of the Government Service Insurance System (GSIS) has lent more than ₱208 billion to 790,514 of its members in just a single year.

This, according to GSIS president and general manager Arnulfo ‘Wick’ Veloso, who said that the loan proceeds of the Multi-Purpose Loan Flex (MPL Flex), could be used by its recipients as seed capital for small businesses that would provide an additional stream of income.

“The MPL Flex program is designed to provide government employees with flexible financial solution which offers the lowest interest rate in the market at 6 percent with repayment terms up to 15 years. Members can borrow up to 14 times their basic monthly salary up to a maximum loan limit of ₱5 million,” PGM Veloso explained.

“I encourage our members to maximize the benefits of MPL Flex for personal and investment purposes,” he added even as he announced that members who borrowed under the MPL Flex program through the GSIS Touch or GWAPS but were not selected in last year’s ‘GSIS Touch and Win’ raffle will have another chance to win this year. A total of ₱1.5 million will be awarded, with 300 lucky winners receiving ₱5,000 each.

Eligible members for MPL Flex loans include active and special GSIS members who are not on leave without pay and have made at least one-month premium payment. They must also meet the General Appropriations Act requirement of a net take-home pay of at least ₱5,000 after all deductions have been made.

The GSIS head disclosed that interested members may apply for the program through the GSIS Touch mobile app or the GSIS Wireless Automated Processing System (GWAPS) kiosks for a quick and paperless process. Approved loans are credited to the members’ e-Card account within a day after approval of the Authorized Agency Officer of the borrower’s agency.

For more information about the MPL Flex, members may visit the GSIS website at www.gsis.gov.ph, follow the GSIS Facebook page (@gsis.ph), email gsiscares@gsis.gov.ph, or call the GSIS Contact Center at 8847-4747.