The Government Service Insurance System (GSIS) is offering pensioners with disability and those beyond retirement age an opportunity to avail of a pension loan using their eCard Plus at GSIS Wireless Automated Processing System (GW@PS) kiosk installed in all GSIS offices and selected government agencies.
Under the GSIS Pension Loan Program, pensioners may borrow up to six times the amount of their monthly pension. However, the total amount should not exceed PhP 100,000.00 at 8 percent annual interest rate.
The monthly amortization on the loan can be paid in 12 months or 24 months through automatic deduction from the regular monthly pension. After all payments are made the pensioners can avail of the loan again.
This is definitely good news to pensioners who are in dire need of funds to infuse into their retirement business ventures. With the economic slowdown both here and abroad, the funds can also be used to generate opportunities for senior citizens to pursue additional small-scale business endeavors.
To access the facility in any GW@PS kiosk, the pensioner must place the eCard Plus on the card reader and select 'pension loan' from the list of available loan programs under the loan menu. A tentative computation of the loan proceeds, together with the monthly amortization, will be displayed on the kiosk's touch screen. After agreeing to the loan computation, the pensioner must confirm the transaction by validating any of his or her fingerprints.
The pensioner can also access the facility by accomplishing the required application form and filing it in the servicing GSIS office.
Under the GSIS Pension Loan Program, pensioners may borrow up to six times the amount of their monthly pension. However, the total amount should not exceed PhP 100,000.00 at 8 percent annual interest rate.
The monthly amortization on the loan can be paid in 12 months or 24 months through automatic deduction from the regular monthly pension. After all payments are made the pensioners can avail of the loan again.
This is definitely good news to pensioners who are in dire need of funds to infuse into their retirement business ventures. With the economic slowdown both here and abroad, the funds can also be used to generate opportunities for senior citizens to pursue additional small-scale business endeavors.
To access the facility in any GW@PS kiosk, the pensioner must place the eCard Plus on the card reader and select 'pension loan' from the list of available loan programs under the loan menu. A tentative computation of the loan proceeds, together with the monthly amortization, will be displayed on the kiosk's touch screen. After agreeing to the loan computation, the pensioner must confirm the transaction by validating any of his or her fingerprints.
The pensioner can also access the facility by accomplishing the required application form and filing it in the servicing GSIS office.
Posts
This Is Very Nice Post And So Information Blog about Pension Loan.
pension loan