State pension fund Government Service Insurance System (GSIS) said its Consolidated Loan (ConsoLoan) program, a loan window that consolidates five different loan packages into one, provided the country with a much needed economic stimulus last year.
Figures showed GSIS disbursed P43.98 billion in ConsoLoan proceeds in 2009, a growth of 26.74 percent from P34.70 billion disbursed for the entire 2008.
The ConsoLoan program provides GSIS members with an alternative source of funds at a time of a credit crunch.
“We understand the stringent requirements that banks have put up on loan applications to protect their investments. We also understand that many turn to loan sharks in times of financial distress. Through our ConsoLoan, we are able to help GSIS members get financial assistance easily and at flexible terms,” GSIS president and general manager Winston Garcia said.
The ConsoLoan is a consolidation of the Salary Loan, Restructured Salary Loan, Enhanced Salary Loan, Emergency Loan Assistance, and Summer One-Month Salary Loan thus, making them easier to manage. The outstanding penalties or surcharges incurred from these five loans are also waived when availing of this loan.
Furthermore, the ConsoLoan, which has a repayment period of up to six years, gives members higher loanable amount. Members who passed all requirements and have at least 20 months of creditable service can avail of a loan equivalent to three months of their monthly salary subject to the premium-based policy of the GSIS.
For members who have been in government service for at least 10 years, they can avail of a ConsoLoan equivalent to 10 months of their monthly salary.
To qualify for the ConsoLoan, the applicant should be an active member with no pending administrative case.
Active members are defined as members who are still in the service and have paid and remitted at least three monthly premium contributions for both Personal Share and Government Share within the last six months prior to the application of the GSIS ConsoLoan. –Daily Tribune
March –
IT’S WOMEN’S MONTH!
“Respect and support women
every day of the year/s!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
Monthly Observances:
Women’s Role in History Month
Weekly Observances:
Week 1: Environmental Week;
Women’s Week
Week 3: Philippine Industry and “
Made-in-the-Philippines Products Week
Last Week: Protection and Gender-Fair Treatment
of the Girl Child Week
Daily Observances:
March 8: Women’s Rights and
International Peace Day;
National Women’s Day
March 4: Employee Appreciation Day
March 15: World Consumer Rights Day
March 18: Global Recycling Day
March 21: International Day for the Elimination
of Racial Discrimination
March 23: International Day for the Right to the Truth
Concerning Gross Human Rights Violations
and for the Dignity of Victims
March 25: International Day of Remembrance of the
Victims of Slavery and the Transatlantic Slave Trade
March 27: Earth Hour
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