GSIS Extends Loan Restructuring Program Until May 2025

The Government Service Insurance System (GSIS) has announced the extension of its Restructuring Program for Service Loans (RPSL) until May 19, 2025.

“The GSIS offers a restructuring and condonation program for all past-due loans. This underscores our commitment to help members and pensioners manage their financial well-being and get back on track by offering flexible terms and condoning penalties,” said GSIS president and general manager Wick Veloso.

Launched in May 2023, the RPSL provides delinquent borrowers with options to lower their past-due balances and offers a more flexible and affordable way to pay off their loans. The program aims to aid former members, old-age pensioners, reemployed members, borrowers who previously availed of RPSL, and those with overdue loans. It offers a one-time condonation and restructuring option, making it easier to manage service loans, penalties, and surcharges.

Borrowers can apply through GSIS Touch, over-the-counter at any GSIS branch, M. Lhuillier, USSC, or via UnionBank or Landbank mobile or web apps. Applicants need to submit a completed form along with a photocopy of their GSIS ID, Phil ID, passport, or any two valid government-issued IDs.

The RPSL covers various service loans, including the GSIS Salary Loan, Enhanced Salary Loan, Emergency Loan Assistance, Member’s Cash Advance, Consolidated Loan, Educational Assistance Loan, Policy Loan, and more.

“We urge government employees to reach out to our customer service team, visit our website, or visit our branches nationwide to apply. Our dedicated team is ready to assist and provide personalized support tailored to your needs,” Veloso added.

Borrowers can choose to pay in full or through installments, with installment payments requiring a downpayment of 10% to 75% and the remaining balance payable over up to five years at an interest rate of 3% to 6%.