The Government Service Insurance System (GSIS) has rolled out a new initiative called MPL Max, designed to alleviate the financial strain on government employees by allowing them to consolidate their debts. Announced on February 3, 2025, this program enables members to combine their loans from GSIS and other lenders into one manageable loan with a favorable interest rate starting at 6 percent and repayment periods extending up to a decade.
GSIS President and General Manager Arnulfo Veloso emphasized that MPL Max is not just about merging debts but also about aiding members in achieving financial stability and recovery. The program features no surcharges on existing GSIS loans, no service fees, free loan insurance, and the option for penalty-free early termination. Additionally, GSIS will directly pay off the consolidated debts to the lending institutions, simplifying the process for members.
To be eligible for MPL Max, members must have made at least one premium payment in the last six months, have no outstanding multi-purpose loans or defaulted GSIS Financial Assistance Loans, and be free from any administrative or criminal cases. They must also meet the net take-home pay requirement set by the General Appropriations Act.
Applicants need to provide an application form, a loan agreement, certified loan documents, a statement of account from lending institutions, a valid ID, and their latest pay slip. To facilitate the application process, GSIS has implemented an appointment system through its GSIS Touch platform, ensuring that each applicant receives personalized attention.
Upon approval, any remaining funds after settling the debts will be credited to the member’s GSIS eCard or ATM account, with monthly repayments automatically deducted from their salary.