Multi-Purpose Loan (MPL) Plus

Home Ginhawa for All Multi-Purpose Loan (MPL) Plus

MPL Plus is the enhanced MPL program that gives active members an additional credit line that will help them consolidate and settle their outstanding GSIS loan balances.

Depending on their employment status, periods with paid premiums (PPP), and basic monthly salary (BMS), loan borrowers may apply for up to P5 million and pay the loan up to 10 years. The loan terms based on PPP are outlined below:

PPP	Loan Terms
	Permanent Without Term/Tenure	Permanent and Nonpermanent With Term/Tenure
At least 3 months but less than 20 months	3 years	—
At least 20 months but less than 10 years	5 years	2 years
At least 10 years but less than 15 years	10 years	5 years
At least 15 years and over	10 years	9 years

For first-time availees, it has a one-time waiver on the outstanding surcharges on due and demandable GSIS loan accounts.

MPL Plus will consolidate the following loans:

Salary Loan (SL)
Restructured Salary Loan (RSL)
Enhanced Salary Loan (ESL)
Emergency Loan Assistance (ELA)
Summer One-Month Salary Loan (SOS)
Conso-Loan Plus / Enhanced Conso-Loan Plus
Member’s Cash Advance / eCard Cash Advance / eCard Plus Cash Advance
Home Emergency Loan Program (HELP)
Educational Assistance Loan I and II (EAL I / II)
Fly PAL, Pay Later (FPPL)
Study Now, Pay Later (SNPL)
Stock Purchase Loan (SPL)

The consolidation will result in the full liquidation of the outstanding balances of the abovementioned loans. The outstanding balances of such loans, including surcharges (if any) to be waived, will be computed up to the date of granting of MPL Plus, Emergency Loan (EML) accounts that are in-arrears (unpaid for 6 months or less) or in-default (unpaid for more than 6 months) as well as GSIS Financial Assistance Loan (GFAL) in-arrears will be deducted from the proceeds of MPL Plus.

For those who have availed of the MPL and will renew the loan under MPL Plus, the outstanding balance of the MPL will be deducted from the proceeds of the loan, along with the EML and arrearages as discussed above.

1. Who can avail, features, and benefits

Qualified borrowers

Regular members (permanent and non-permanent), as well as special members, are qualified to apply for MPL Plus provided that they:

have paid at least three (3) months of premiums;
are not on leave of absence without pay;
have no pending administrative or criminal case;
belong to an agency whose status is not suspended;
have resulting net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted; and
belong to an agency with memorandum of agreement (MOA) on MPL or GFAL with GSIS

Maximum loanable amount and payment terms

The following table shows the maximum loanable amount and loan term for permanent employees without tenure.

PPP	Maximum Loanable Amount	Loan Term
At least 3 months but less than 20 months	1 x BMS	3 years
At least 20 months but less than 3 years	3 x BMS	5 years
At least 3 years but less than 5 years	4 x BMS
At least 5 years but less than 10 years	7 x BMS
At least 10 years but less than 15 years	10 x BMS	10 years
At least 15 years and over	14 x BMS	10 years

The following table indicates the maximum loanable amount and loan term for non-permanent and permanent employees with term or tenure.

PPP	Maximum Loanable Amount	Loan Term
At least 3 months but less than 20 months	—	—
At least 20 months but less than 3 years	3 x BMS	2 years
At least 3 years but less than 5 years	4 x BMS
At least 5 years but less than 10 years	7 x BMS
At least 10 years but less than 15 years	10 x BMS	5 years
At least 15 years and over	14 x BMS	9 years

Special members with MOA with GSIS may apply for an amount equivalent to 14 times of their BMS but not exceed the credit limit of P5 million. Their loan term is set at a maximum of 10 years.

Interest Rate

For MPL Plus, the uniform interest rate of 7% computed in advance is applicable to all borrowers.

2. Requirements for Application

Duly accomplished MPL Plus Application Form;
Photocopy of the Unified Multi-Purpose ID (UMID) card or Electronic Card (eCard)

3. Step by Step Procedure on how to apply

a. Via the Electronic GSIS Member Online (eGSISMO)

Log in to your eGSISMO account. Be ready with your User ID/Business Partner (BP) number and Password.
Click the Loans Application Choose Multi-purpose Loan Plus from the dropdown menu for Loan Product. Select from New or Renewal for the Loan Type.
Upload your picture holding your UMID card or temporary eCard (or any 2 valid government-issued IDs if UMID / temporary CARD is not present). The file to be uploaded should be in JPEG or PDF format and its size should be 2MB only. Click Next.
Confirm Loan Agreement and click SAVE.
Await email confirmation from GSIS for your tentative loan computation.

b. Via Email

Prepare the following:
- duly accomplished MPL Plus Application Form;
- clear picture holding your GSIS UMID card or temporary eCard; If UMID card or temporary eCard is not available, be ready with your 2 valid IDs and take a clear photo of:
- your 2 valid IDs (front and back); and
- you holding the 2 valid ID cards.

Save the application form and photos of your IDs as JPEG or PDF file. File size should not exceed 2MB.
Email the documents to your GSIS handling branch. The list of email addresses of GSIS offices is available in the GSIS website (GSIS – Contact Us).
Await email confirmation from GSIS for tentative loan computation.

c. Via Drop Box

Fill out the MPL Plus Application Form;
Print the application form and photocopy your UMID Card.
Secure the documents in a brown envelope and properly label it with the following information:

NAME
TYPE OF LOAN
GSIS HANDLING BRANCH

Put the envelope in the drop box located in GSIS offices.
Await email confirmation from GSIS for tentative loan computation.

d. Via the GSIS Wireless Automated Processing System (GWAPS) Kiosk

Go to a GWAPS kiosk nearest you.
Place your UMID/eCard Plus in the GWAPS kiosk card reader. You will be required to place your finger in the biometrics scanner. Once recognized, your personal data will be displayed.
Choose the Loan Windows icon and click on Multi-Purpose Loan Plus. The screen will display the tentative computation of your preferred loan. You may change the loan amount or payment term.
To confirm your loan application, place your finger on the biometrics scanner.
Wait for an email or SMS from GSIS regarding the approval of your loan.

e. Via GSIS Touch

Download the GSIS Touch mobile from the Apple App Store or Google Play Store and install it on your smartphone.
Register in eGSISMO. Be ready with your BP number and ensure that your mobile number is updated.
Log in to your eGSISMO account. Be ready with your Username and Password.
Tap the Loans icon in the bottom of the eGSISMO screen and tap Available Loans. Select Multipurpose Loan Plus.
Check the tentative computation details displayed on your mobile screen. Tap Submit Loan Application.
Wait for an email or SMS from GSIS regarding the approval of your loan.