GSIS is extending its loan restructuring and condonation program until May 2025

Government Service Insurance System (GSIS) is extending its Restructuring Program for Service Loans (RPSL) until May 19, 2025. The extension offers a good opportunity for borrowers to benefit from longer and more affordable payment terms.

“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 last year, the GSIS Restructuring Program for Service Loans (RPSL) is a new restructuring program that provides delinquent borrowers more options to lower their past due balances and offer a more flexible and affordable option to pay off their loans. It is designed to aid former members, old-age pensioners, reemployed members, borrowers who previously availed of PRRD, and those with overdue loans. The program provides a one-time condonation and restructuring option, making it easier for borrowers to manage due and demandable service loans, as well as their penalties and surcharges.

Borrowers can apply for the program through the GSIS Touch, over-the-counter (OTC) payment at any GSIS branch, M. Lhuillier, USSC, or via UnionBank or Landbank mobile or web apps.  Applicants are required to submit a duly accomplished form along with a photocopy of the GSIS ID, Phil ID, passport, or any two valid government-issued IDs.

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.

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

Borrowers availing of the program can choose to pay in full or through installments. For installment payments, a down payment of 10% to 75% is required, with 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, www.gsis.gov.ph; the official Facebook page, @gsis.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center 8847-4747 (in Metro Manila), 1-800-8-847-4747 (for Globe and TM subscribers), or 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N’ Text subscribers).