Government workers trapped in a cycle of high-interest loans can now break free, thanks to the Government Service Insurance System’s (GSIS) enhanced Ginhawa Max Loan Buyout program. This initiative provides much-needed relief―completely buying out expensive loans so borrowers can start fresh with lower interest rates, as low as six percent per year, and more manageable payment terms under GSIS.
Members may borrow up to ₱5 million or 19 times their monthly salary, whichever is lower, and benefit from repayment periods up to 10 years with no service fees.
“We want to help public servants break free from the bondage of indebtedness and take confident steps toward financial security,” said GSIS President and General Manager Wick Veloso. “Our priority is to extend timely financial support and affordable repayment options to more government workers.”
The previous need for a Memorandum of Agreement (MOA) has been replaced by sending a Letter of Intent from agency heads or designated representatives for their personnel to apply.
To apply, government employees may schedule appointments via the GSIS Touch mobile app, and prepare their latest pay slip and documents for loans they wish to buy out or consolidate. Applicants must have at least one posted premium payment in the last six months, no existing MPL or defaulted GSIS Financial Assistance Loans, no administrative or criminal cases, and must meet the net take-home pay requirement under the General Appropriations Act.
MPL Max is part of the GSIS Multi-Purpose Loan Bundle, which also includes MPL Flex and MPL Lite―offering timely financial assistance when members and pensioners need it most.
