GSIS launches MPL Max to help government workers consolidate debts

The Government Service Insurance System (GSIS) has launched a loan consolidation program called MPL Max to help indebted government workers consolidate debts and reduce financial burdens.

MPL Max offers interest rates as low as 6 percent, allows members to merge multiple loans into one with extended repayment terms of up to 10 years, and includes loan insurance coverage at no additional cost.

GSIS President Jose Arnulfo A. Veloso emphasized that the program aims to provide a clear path to financial recovery by offering lower interest rates and waiving service fees on existing GSIS loans.

To qualify, applicants must have paid at least one month of premium contributions within the past six months, have no active multi-purpose loans or defaulted GSIS Financial Assistance Loans, and be free of administrative or criminal cases with sufficient net take-home pay as required by law.

GSIS requires members to schedule appointments via its GSIS Touch platform for streamlined processing of loan applications.

Once approved, GSIS will directly settle outstanding loans with lending institutions and credit any remaining funds to the member's GSIS eCard or ATM account, with monthly payments deducted from their salary.