Have you ever heard about the GSIS loan? If you are a Filipino or somehow is connected with Philippines, then probably yes. In this article we will consider what is the gsis loan, which advantages you can get if make this loan, tell you about main requirements and give you some tips about how to make this loan correctly and without any problems. Let’s go!

First of all, GSIS loan is the abbreviation of the Government Service Insurance System. The main purposes of this system are:

  • Life insurance (compulsory and additional)
  • Disability allowances connected with the unforeseen circumstances related with work
  • Pension allowances
  • Allowances connected with death.

If you are a civil servant, then you have all rights to use all the advantages of this social security allowance. Government Service Insurance System gives such opportunity to all civil servant regardless of their employment status. The members of GSIS are able to use such benefits as loans, scholarships, pensions, different types of insurance and so on.

So, what is the GSIS loan and why it worth your attention? Let’s start from the very beginning.

Social Security System in Philippines

Prior to consider what is GSIS, what advantages you will have while making a GSIS loan and how to get gsis number, let’s start from the social security system in Philippines. Social Security System or briefly SSS is a Philippine insurance system which provides citizens with some type of benefits, such as retirement and health benefits as well as gives an opportunity to make some types of loans. Among loans offered by the SSS there are calamity loans, salary loans and housing loans. To make any of these loans and to use all benefits of this system you have to meet some special requirements. Among them are:

  • First of all, you have to be a member of the Social Security System. It doesn’t matter whether you are voluntary member, are employed or self-employed.
  • If you are employed, you have to make the employer contributions.
  • To apply for any of the guaranteed loans listed above you have to be younger than sixty-five years.
  • If you are going to make a two-months loan, then you have to make minimum seventy-two contributions and if you want to make one-month loan, you have to make minimum thirty-six such contributions.
  • People, who are for some reasons disqualified because of the fraud made against the Social Security System don’t have an opportunity to apply for any loan provided with this system.
  • To apply for the loan, you should not be granted with some kind of other financial allowances.

If you meet all these requirements you are able to apply for any type of the loan provided by the SSS. Moreover, you can do it online. Visit the official website and choose the desired type of the loan in the list. If you really meet all requirements system will ask you to enter your personal data and to accept conditions and terms of the loan. After sending the form with your application you should wait several weeks for the final response. You will be notified about the result of your application by and e-mail or by call.

Government Insurance System in Philippines

The gsis meaning is Government Insurance System and it is quite similar to the above mentioned Social Security System (or SSS). This is also an insurance system which provides people with allowances and loans. The one and only main difference between these two systems is that the GSIS offers these loans and benefits for those people who work in the government. Status of your employment in this case is also unimportant, you also can be self-employed, employed or to be a volunteer. So, how to apply for gsis and what are the main requirements for it? If compare with the Social Security System’s requirements, in this case to apply for the gsis loan is a bit simpler. So, you should:

  • As well as in case with the SSS you should be a member of the Government Social Insurance System. This requirement, probably, is the most important one.
  • You must not have any criminal or administrative violations during at least six months before applying for a loan provided by GSIS.
  • Your monthly income should not be higher than fifteen thousand pesos.
  • If you are excluded from any agency you don’t have an opportunity to apply for the GSIS loan.

If you meet all the requirements mentioned above, you shouldn’t be worried about how to get loan in gsis. You will be able to apply for a loan offered by gsis online. You can do it by using the GWAPS (Wireless Automated Processing System) kiosks which you can find in the fifty-seven branches of the Government Social Insurance System. This way of applying the loan is the simplest and the most secure. After sending the application for a loan you should wait. In two or more weeks you will receive a call, e-mail or text message with the result of your application. If the result is successful and your application is approved, you will be able to use this money through your UMID or GSIS card (it depends on which card you entered while filling in the application form with your personal data).

As you can see, there is nothing special and difficult in applying for this loan. If you meet all requirements, GSIS loan will be a great opportunity to use the government’s help in situations when you need money.

Categories: Advices

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