New GSIS Multipurpose Loan (MPL FLEX)

GSIS Multipurpose Loan (MPL FLEX)

Are you interested in consolidating your loans? MPL Flex is an option for members who want to consolidate all their existing loans, except for housing loans. This loan gives borrowers additional funds that they can use for any purpose.

Members can avail of the loanable amount of up to 14 times their basic monthly salary, with applicable terms and conditions. For first-time borrowers, there is a one-time waiver of the outstanding surcharges on due and demandable GSIS loan 

MPL Plus will consolidate the following loans:
1. Salary Loan (SL)
2. Restructured Salary Loan (RSL)
3. Enhanced Salary Loan (ESL)
4. Emergency Loan Assistance (ELA)
5. Summer One-Month Salary Loan (SOS)
6. Conso-Loan Plus / Enhanced Conso-Loan Plus
7. Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
8. Home Emergency Loan Program (HELP)
9. Educational Assistance Loan I and II (EAL I / II)
10. Fly PAL, Pay Later (FPPL)
11. Study Now, Pay Later (SNPL)
12. Stock Purchase Loan (SPL)

The consolidation will result in the complete liquidation of the outstanding balances of the loans mentioned above, including surcharges (if any) to be waived. The outstanding balances of such loans, including in-arrears or in-default Emergency Loan (EML) accounts unpaid for six months or less and GSIS Financial Assistance Loan (GFAL) in-arrears, will be deducted from the proceeds of MPL Plus.

Qualifications for the GSIS Multipurpose Loan (MFLEX)

The following members are qualified to apply for MPL Flex:
1. Not on leave of absence without pay at the time of application;
2. Has at least one (1) month of premium contributions for both personal and Government Shares at the time of application;
3. Has no pending administrative or criminal case;
4. Has no arrears in the GSIS Financial Assistance Loan (GFAL) and Housing Loan;
5. The agency status is not "suspended," and
6. After all required monthly obligations have been deducted, The resulting net take-home pay after loan availment is not lower than the amount required under the General Appropriations Act.

Borrowers can choose their payment terms, ranging from 1 year up to 15 years. If borrowers qualify for a 10-year loan term, they can choose a reduced payment term between 1 and 9 years.

To make it easier to understand the maximum loan terms based on different scenarios, here's a revised format:

MAXIMUM LOAN TERM:

For Paid Premium Contributions of at least one month but less than 20 months:
- Maximum Loan Amount: 1x Basic Monthly Salary
- Flexible Payment Term: 1 year up to 3 years

For Paid Premium Contributions of at least 20 months but less than three years:
- Maximum Loan Amount: 3x Basic Monthly Salary
- Flexible Payment Term: 1 year up to 6 years

For Paid Premium Contributions of at least three years but less than five years:
-Maximum Loan Amount: 4x Basic Monthly Salary

For Paid Premium Contributions of at least five years but less than ten years:
- Maximum Loan Amount: 7x Basic Monthly Salary

For Paid Premium Contributions of at least ten years but less than 15 years:
- Maximum Loan Amount: 10x Basic Monthly Salary
- Flexible Payment Term: 1 year up to 15 years

For Paid Premium Contributions of at least 15 years or over:
- Maximum Loan Amount: 14x Basic Monthly Salary

APPLICATION OPTIONS and REQUIREMENTS:
1. Via GSIS Touch mobile app
2. Via GWAPS Kiosk
Requirement: UMID ID
3. Over-the-Counter
At GSIS Servicing Branches
Requirements:
• Duly accomplished MPL Flex Application Form - Download Form
• Photocopy of the Unified Multi-Purpose ID (UMID) card or Electronic Card (eCard)