GSIS PENSION LOANS FAQS
Q & A:
Q: What are the requirements in applying for GSIS Pension Loans?
A: Application Form, SOA (txn for the last month), 2 valid ID’s (Pensioner), Co-Makers ID
Q: What is MRI?
A: Mortgage Redemption Insurance
Decreasing-term life insurance policy taken by a mortgagor to repay the balance on a mortgage loan if he or she dies before its full repayment. (Source: businessdictionary.com)
Q: What are the qualifications of a Co-maker?
A: 18 years of age, with Valid ID, atleast 3rd degree consanguinity/blood-related
- How much is the interest rate and Bank Charges?
A: 15% Diminishing interest rate and 6% bank charge
Q: How much is Minimum and Maximum amount of Loan?
A: 30K – 150K
Q: How much is the amount of Net Take Home Pay (NTHP) required?
A: Php 3,000.00
Q: What is the Maximum Loan Term?
A: 24 Months
Q: How many Pension credits are required to be eligible for the Loan?
A: Atleast 1 month pension credit