GSIS launches MPL Max Loan Buyout Program for government workers

GSIS launches MPL Max Loan Buyout Program for government workers

The Government Service Insurance System (GSIS) has introduced a loan buyout program, MPL Max, allowing government employees to consolidate their debts with interest rates as low as 6%.

GSIS President and General Manager Wick Veloso highlighted the initiative’s goal of protecting members from high lending rates. “MPL Max is more than just loan consolidation—it’s about offering financial relief and stability to our members burdened by debt,” he said.

Program Details

Under the MPL Max program, government employees can consolidate existing loans into a single loan with competitive interest rates and repayment terms extending up to 10 years.

Qualified members may borrow up to 19 times their monthly salary or P5 million, whichever amount is lower.

• To be eligible for the program, members must meet specific criteria, including:
• Having paid at least one month of premium contributions within the last six months.
• Not having any existing multi-purpose loans or defaulted GSIS Financial Assistance Loans.
• Having no administrative or criminal cases.
• Maintaining a sufficient net take-home pay as mandated by the General Appropriations Act.

Application Process

Applications must be submitted in person after scheduling an appointment through the  GSIS Touch facility. Once approved, GSIS will directly settle the member’s outstanding loans with lenders, with any excess funds credited to their GSIS eCard or ATM account. Monthly payments will be deducted automatically from the borrower’s salary.

For more details, members can visit the GSIS website (www.gsis.gov.ph), follow @gsis.ph on Facebook, email gsiscares@gsis.gov.ph, or call the GSIS Contact Center at 8847-4747.