MANILA – The Government Service Insurance System (GSIS) is extending its Restructuring Program for Service Loans (RPSL) until May 19, 2025, providing borrowers with longer and more affordable payment terms a ranking official of the state insurer said.
This initiative, announced by GSIS President and General Manager Jose Arnulfo ‘Wick’ Veloso, is part of the state insurer’s ongoing efforts to help members and pensioners manage their financial obligations.
In his official statement, Veloso emphasized that the extension of the restructuring and condonation program for all past-due loans aligns with GSIS’s commitment to supporting the financial well-being of its members.
The program offers flexible terms and condones penalties, allowing borrowers to regain financial stability.
Launched in May of the previous year, the RPSL is designed to assist delinquent borrowers by offering them more options to reduce their past-due balances and providing a more flexible and affordable way to settle their loans.
The program targets former members, old-age pensioners, reemployed members, borrowers who previously availed of the PRRD, and those with overdue loans.
Through the program, GSIS members can benefit from a one-time condonation and restructuring option, simplifying the management of service loans and related penalties and surcharges.
Applications for the program can be submitted via the GSIS Touch app, over-the-counter at any GSIS branch, or through partner payment centers such as M. Lhuillier, USSC, or via UnionBank or Landbank mobile or web apps.
The RPSL covers a wide range of service loans, including the GSIS Salary Loan, Enhanced Salary Loan, Restructured Salary Loan, Emergency Loan Assistance, Summer One-Month Salary Loan, Member’s Cash Advance, eCard Plus Cash Advance, Consolidated Loan, Enhanced Consolidated Loan, Emergency Loan, Home Emergency Loan Program, Study Now, Pay Later, Fly PAL, Pay Later, Educational Assistance Loan, Stock Purchase Loan, Policy Loan, Optional Policy Loan, GSIS Financial Assistance Loan, Program for Restructuring and Repayment of Debts, Multipurpose Loan, Computer Loan, and other future loans.
To apply for loan restructuring and condonation, borrowers must submit a completed application form along with a photocopy of their GSIS ID, Phil ID, passport, or any two valid government-issued IDs. Borrowers have the option to pay in full or through installments, with a required down payment of 10% to 75% of the total amount, and the remaining balance payable over up to five years at an interest rate of 3% to 6%.
For more information about the RPSL, interested parties may visit the GSIS website at http://www.gsis.gov.ph, the official Facebook page @gsis.ph, email gsiscares@gsis.gov.ph, or call the GSIS Contact Center at 8847-4747 (Metro Manila), 1-800-8-847-4747 (Globe and TM subscribers), or 1-800-10-847-4747 (Smart, Sun, and Talk ‘N’ Text subscribers).
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