Cash Advance Loan
As the name suggests, the P10,000-Cash Advance Loan offers a substantial amount of P10,000 (less service charge) at reasonable terms that will come in handy for any member. If the availing member still has an outstanding balance from the old P5,000- Cash Advance Loan, it will be deducted from the proceeds of the new loan.
The loan bears an interest rate of 12 percent payable in three years.
Who can avail of the Cash Advance Loan?
To qualify for the P10,000-Cash Advance Loan, a member must have at least three correct premium for personal and government share within the last six months prior to application of the loan.
A member can avail of the P10,000-Cash Advance Loan only once.
How can members apply for the P10,000-Cash Advance Loan?
A member can apply for the P10,000-Cash Advance Loan using the GSIS Wireless Automated Processing System (G-W@PS) kiosk installed in all GSIS servicing offices and select government offices nationwide.
To apply for the P10,000-Cash Advance Loan using the kiosk, a member needs to first place his eCard Plus on the card reader of the kiosk. Then, he needs to place any of his pre-selected fingers on the fingerprint biometric scanner of the kiosk. Using the touch screen monitor of the G-W@PS, a member must select “cash advance” from the list of loans available on the loan menu and follow the simple instructions that will be displayed on the screen to complete the transaction.