The Government Service Insurance System (GSIS) has introduced the MPL Max Loan Buyout Program, which allows government employees to combine their existing loans into a single loan with lower interest rates. This program offers interest rates as low as 6%, helping government workers manage their debt more easily.
What Is the MPL Max Loan Buyout Program?
GSIS President and General Manager Wick Veloso stated that MPL Max is designed to give financial relief to government employees struggling with multiple loans. The program allows borrowers to consolidate their debts and benefit from:
✅ Lower interest rates
✅ No service fees
✅ Waived surcharges on existing GSIS loans
✅ Free loan insurance
✅ No penalties for early repayment
This initiative aims to protect GSIS members from high-interest lending institutions and provide them with a more stable financial future.
Who Can Apply?
To qualify for the MPL Max Loan Buyout Program, applicants must meet the following conditions:
🔹 Have at least one month of premium contribution in the last six months
🔹 No existing multi-purpose loans or defaulted GSIS Financial Assistance Loans
🔹 Meet the required net take-home pay
🔹 Have no pending administrative or criminal cases
Additionally, the government agency where the applicant works must first sign a Memorandum of Agreement (MOA) with GSIS before employees can apply.
How Much Can You Borrow?
Under the MPL Max program, borrowers can take out up to:
💰 19 times their basic salary
💰 A maximum of P5 million
💰 Repayment period: Up to 10 years
This extended repayment term helps ease the burden of monthly payments.
Required Documents
Applicants must submit the following:
📌 Application form
📌 Borrower loan agreement
📌 Statements of account from lenders
📌 Valid ID from lending institutions
How to Apply
Government employees interested in applying must schedule an appointment through the GSIS Touch online facility. Once approved, GSIS will:
✔ Pay off the applicant’s existing loans directly to lenders
✔ Credit any excess funds to the borrower’s GSIS eCard or ATM account
✔ Deduct monthly loan payments from the borrower’s salary
Where to Get More Information
For more details on the MPL Max Loan Buyout Program, members can:
📞 Call the GSIS Contact Center: 8847-4747
🌐 Visit the GSIS website: www.gsis.gov.ph
📧 Email [email protected]
📲 Follow @gsis.ph on Facebook
This program provides a valuable opportunity for government workers to regain control of their finances and avoid high-interest debt traps. If you are eligible, consider applying to lower your loan costs and improve your financial stability.
