Multi-purpose Loan (MPL) Plus is the enhanced MPL program that gives active members an additional credit line that will help them consolidate and settle their outstanding GSIS loan balances. For MPL Plus, the uniform interest rate of 7% computed in advance is applicable to all borrowers. But before planning to avail the GSIS Multi-purpose Loan (MPL) Plus, we must think first that this is only qualified for its members. What is GSIS? The Government Service Insurance System (GSIS) is a social insurance institution that is exclusively for the employees who work in government offices. It is the counterpart to the Social Security System (SSS) for private employees and other types of earners.
Depending on their employment status, prepaid premiums (PPP), and basic monthly income (BMS), borrowers can apply for up to P5 million and repay a loan of 10 years. PPP-based loan terms are outlined below:
PPP | Permanent Without Term/Tenure | Permanent and Nonpermanent With Term/Tenure |
|---|---|---|
| At least 3 monthsbut less than 20 months | 3 years | — |
| At least 20 monthsbut less than 10 years | 5 years | 2 years |
| At least 10 yearsbut less than 15 years | 10 years | 5 years |
| At least 15 years and over | 10 years | 10 years |
For first-time applicant, it has a one-time waiver on the outstanding surcharges on due and demandable GSIS loan accounts.
GSIS Multi Purpose Loan Plus will consolidate the following loans
- Salary Loan (SL)
- Restructured Salary Loan (RSL)
- Enhanced Salary Loan (ESL)
- Emergency Loan Assistance (ELA)
- Summer One-Month Salary Loan (SOS)
- Conso-Loan Plus / Enhanced Conso-Loan Plus
- Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
- Home Emergency Loan Program (HELP)
- Educational Assistance Loan I and II (EAL I / II)
- Fly PAL, Pay Later (FPPL)
- Study Now, Pay Later (SNPL)
- Stock Purchase Loan (SPL)
Qualification and Benefits for Multi-purpose Loan (MPL) Plus
Qualified borrowers
Regular members (permanent and non-permanent), as well as special members, are qualified to apply for MPL Plus provided that they:
- have paid at least three (3) months of premiums;
- are not on leave of absence without pay;
- have no pending administrative or criminal case;
- belong to an agency whose status is not suspended;
- have resulting net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted; and
- belong to an agency with memorandum of agreement (MOA) on MPL or GFAL with GSIS
Maximum loanable amount and payment terms
The following table shows the maximum loanable amount and loan term for permanent employees without tenure.
| PPP | Maximum Loanable Amount | Loan Term |
|---|---|---|
| At least 3 monthsbut less than 20 months | 1 x BMS | 3 years |
| At least 20 monthsbut less than 3 years | 3 x BMS | 5 years |
| At least 3 yearsbut less than 5 years | 4 x BMS | |
| At least 5 yearsbut less than 10 years | 7 x BMS | |
| At least 10 yearsbut less than 15 years | 10 x BMS | 10 years |
| At least 15 years and over | 14 x BMS |
The following table indicates the maximum loanable amount and loan term for non-permanent and permanent employees with term or tenure.
| PPP | Maximum Loanable Amount | Loan Term |
|---|---|---|
| At least 3 monthsbut less than 20 months | — | — |
| At least 20 monthsbut less than 3 years | 3 x BMS | 2 years |
| At least 3 yearsbut less than 5 years | 4 x BMS | |
| At least 5 yearsbut less than 10 years | 7 x BMS | |
| At least 10 yearsbut less than 15 years | 10 x BMS | 5 years |
| At least 15 years and over | 14 x BMS | 9 years |
Requirements for GSIS Multi-purpose Loan
- Duly accomplished MPL Plus Application Form;
- Photocopy of the Unified Multi-Purpose ID (UMID) card or Electronic Card (eCard)
Procedure for GSIS Multi-purpose Loan Application
a. Via the Electronic GSIS Member Online (eGSISMO)
- Log in to your eGSISMO account. Be ready with your User ID/Business Partner (BP) number and Password.
- Click the Loans Application Choose Multi-purpose Loan Plus from the dropdown menu for Loan Product. Select from New or Renewal for the Loan Type.
- Upload your picture holding your UMID card or temporary eCard (or any 2 valid government-issued IDs if UMID / temporary CARD is not present). The file to be uploaded should be in JPEG or PDF format and its size should be 2MB only. Click Next.
- Confirm Loan Agreement and click SAVE.
- Await email confirmation from GSIS for your tentative loan computation.
b. Via Email
- Prepare the following:
- duly accomplished MPL Plus Application Form;
- clear picture holding your GSIS UMID card or temporary eCard; If UMID card or temporary eCard is not available, be ready with your 2 valid IDs and take a clear photo of:
- your 2 valid IDs (front and back); and
- you holding the 2 valid ID cards.
- Save the application form and photos of your IDs as JPEG or PDF file. File size should not exceed 2MB.
- Email the documents to your GSIS handling branch. The list of email addresses of GSIS offices is available in the GSIS website (GSIS – Contact Us).
- Await email confirmation from GSIS for tentative loan computation.
See More MPL Plus Application Procedure, click here.
