GSIS offers Php 500K Top-up Loan to its members
GSIS offers Php 500K Top-up Loan to its members
GFAL's Top-Up Loan is an additional facility where the GFAL borrower may owe the remaining amount on the maximum loan amount of Php500,000
If your loan balance is below Php 500, the remaining amount may be applied for as a top-up loan. The interest rate of Top-up loan is 6% per annum. Computation is based on diminishing balance. The borrower will pay the GSIS for a period of six years or 72 equal monthly installments.
Top-up loan has no service fee. The member or the GSIS loan-borrower will receive the Top-Up Loan check.
The Top-Up Loan can be availed in conjunction with the GFAL application. If you have already filed for GFAL, you can still apply for a Top-Up Loan but you can not avail said two loans without 30 days gap.
The Top-Up Loam can be computed using the formula:: P500,000 – GFAL availed amount = Top-Up Loan.
Members who have availed GFAL before can still apply for a Top-Up Loan. If you have already GFAL and are applying for a Top-Up Loan, the requirements are as follows: (1) application form; and (2) Payslips for the last three months certified by the Authorized Administrative Officer (AAO).
For more information about GSIS Top-Up Loan please READ THIS - GSIS Financial Assistance Loan (GFAL) with Top-up Loan Frequently Asked Questions
