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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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