MANILA - State pension fund Government Service Insurance System (GSIS) has already collected PHP113 million in loan payments after over 10 months of implementation of its partnership with Bayad (former Bayad Center). "Maraming salamat sa suporta ng aming miyembro at pensiyonado (Thank you very much for the support of our members and pensioners). We have so far collected PHP113.33 million for 17,720 transactions with Bayad. Ito ay patunay na maginhawa, mabilis at ligtas ang transactions sa Bayad (This is a proof that transactions with Bayad are convenient, fast, and safe)," GSIS president and general manager Rolando Ledesma Macasaet said in a statement Tuesday. GSIS's collections include PHP36.06 million for 5,144 conso-loan accounts; PHP26.26 million for 2,018 GSIS Financial Assistance Loan accounts; PHP16.05 million for 2,396 Multipurpose Loan accounts; and PHP12.95 million for 3,395 emergency loan accounts, among others. "Kaagapay kayo ng GSIS sa pangangalaga ng at
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MANILA - The Government Service Insurance System (GSIS) will open on April 23 the Multi-Purpose Loan (MPL) Plus program that offers a credit limit of PHP5 million. It also extended the maximum payment term to 10 years and relaxed the borrowers' eligibility requirements. "We enhanced the MPL program based on the feedback from members in the previous MPL so we can offer a loan program that will best suit their needs. Sa MPL Plus, umaasa ang GSIS na mas marami pa tayong miyembrong matutulungan," president and General Manager (PGM) Rolando Ledesma Macasaet said in a statement on Monday. Under MPL Plus, the credit limit has been raised to PHP5 million from PHP3 million. The actual amount will depend on the borrowers' paid premiums and monthly salary. The uniform interest rate of 7 percent computed in advance will be applied to all borrowers. In the previous MPL, members with less than three years of paid premiums were charged 8 percent interest, while those with at least t
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Bayad Center (File photo) MANILA - State pension fund Government Service Insurance System (GSIS) has collected over PHP65 million in loan payments made through Bayad Centers following the accreditation of more branches of the collection partner. GSIS's partnership with Bayad, which started in April this year, provides members a secure and convenient alternative to paying their loans and supports the pension fund's goal to improve its loan collection efficiency. "Initially, there were only 1,689 active Bayad outlets. As of September 2021, there are 2,836 Bayad collection sites across the country that are accepting payments for GSIS loans," GSIS president and general manager Rolando Macasaet said in a statement on Friday. Bayad accepts payments for enhanced salary loan, emergency loan assistance, summer one-month salary loan, eCard cash advance, enhanced consolidated loan, emergency loan, home emergency loan, Study Now, Pay Later loan, Fly PAL, Pay Later loan, education
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