In just a year, the flagship loan program of the Government Service Insurance System (GSIS) has lent P208.17 billion to 790,514 members, according to GSIS president Jose Arnulfo ‘Wick’ Veloso.

“Our Multi-Purpose Loan Flex (MPL Flex) program was launched in September last year and since then, it (has) blazed a consistent trail of record loan disbursements to (our) members,” Veloso noted.

A veteran banker and multi-awarded chief-executive-officer of a number of private business entities, the GSIS president and general manager (PGM) explained that the MPL Flex program is designed to provide government employees with flexible financial solution that offers the lowest interest rate in the market at 6 percent and 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 P5 million. Loan proceeds can be used as seed capital for small businesses, providing an additional stream of income,” PGM Veloso pointed out.

“I encourage our members to maximize the benefits of MPL Flex for personal and investment purposes,” he added.

Based on MPL Flex loan requirements, eligible members include active and special GSIS members who are not on leave without pay and have made at least one-month premium payment.

Loan guidelines likewise informed borrowers must meet the General Appropriations Act requirement of a net take-home pay of at least P5,000 after all deductions have been made.

Members may apply 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.

Meanwhile, the GSIS also announced that members who borrowed under the MPL Flex program through the GSIS Touch or GWAPS but were not selected in last year’s raffle will have another chance to win this year in the ‘GSIS Touch and Win’ raffle.

A total of P1.5 million will be awarded, with 300 lucky winners receiving P5,000 each.

“This unprecedented milestone of MPL Flex’s first anniversary only strengthens the GSIS mandate to continue to provide accessible loans to our members. The MPL Flex Loan Program is a vital resource in helping them achieve their financial goals while ensuring overall well-being,” Veloso said.

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.