GSIS

FINANCIAL
ASSISTANCE
LOAN

A B R I E F E R P R E PA R E D B Y
N C R O P E R AT I O N S G R O U P
 WHAT IS “GFAL”?
The GSIS Financial Assistance Loan (or GFAL) is a balance
B AC KG R O U ND

transfer and debt-consolidation facility in one.

Launched on May 15, 2018, the program was created in response

to the call of President Duterte to help improve the financial
situation of DepEd teachers who fall prey to money lending
schemes, which are often tied with higher interest rates and fees.

On July 27, 2019, GFAL was made available to Non-DepEd

personnel.
ACTIVE GSIS MEMBERS
Must be regular or special member under WITH OUTSTANDING LOAN
permanent status and period with paid from agency-accredited/recognised
premiums of at least three (3) years. lending institution/s.

“ON PAY” STATUS

Must not be on leave without pay.
UPDATED GS IS LOANS
Has no due and demandable loan
account/s with the GSIS.
NO PENDING CASE
No pending administrative case and/or
criminal charge but if the pending case or
charge is filed by an accredited lending
institution, this condition is waived.

Who may apply for GFAL?

 VO LU NTARY A P P L ICATION
The GFAL may be availed for the
purpose of settling the outstanding
obligations with lending
institutions, and shall be extended
only to those who will apply for the
same.

PAY ME NT O F P R O CE E DS
The loan proceeds to be paid to
lending institution/s shall be net of

GENERAL deductions to be imposed by GSIS,

i.e., advance interest payment and
POLICIES loan redemption insurance.
FEATURES OF THE GFAL

LOA N A M O U N T I N TE RE ST PAY ME NT T E R M

Up to Php500,000, 6% per annum Fixed at 6 years.

provided the resulting computed in advance.
net take home pay is No service fee/s
within GAA limit. attached.
FEATURES OF THE GFAL

I N S U R E D LOA N F R E E F I N L I T S E MINAR N OT R E NE WA BLE

With redemption Attendance to Financial GFAL is a one-time offer

insurance coverage; will Literacy Seminar focusing of the GSIS and is not
pay-off loan in case of on good money renewable.
death of borrower. management practices.
 Php 32.1 Billion
S INC E MAY 2018
GFAL AVAILM ENT

D I S B U RSED

85,866G S I S M E MBER S

Data as of 09.13.2019
 LOA N P R O CE S S
PRE- F I N ANC IAL LOA N
P R O CE SSING L I T E RACY S E MINAR C O U N SE LING

Secure computation, Attend and complete GSIS Loan Officer

and submit together the Financial Literacy computes the FINAL
with the application Seminar at GSIS. loanable amount and will
form and required provide counseling to
documents. borrower-applicant.
GFAL Top-Up Loan
Available to member-borrowers
whose total outstanding loan
obligations from lending institutions
to be applied (or have been applied)
under GFAL has not reached the
maximum amount of Php500,000.00.
FEATURES OF THE TOP-UP LOAN

LOA N A M O U N T I N T E R E ST PAY ME NT T E R M

Remaining available credit (from 6% per annum Fixed at 6 years.

the Php500,000), provided the computed in advance.
resulting net take home pay is No service fee/s
within GAA limit. attached.
 A P P LIC ATION
The application for top-up loan
shall be filed separately from the
GFAL. A member-borrower with
previously processed GFAL
application may not apply for the
“Top Up” on the same month that
the initial GFAL application was
processed.

PAY ME NT O F P R O CE E DS

The proceeds of the top up amount

GENERAL shall be payable directly to the

POLICIES member-borrower through check.

.
 D E D UC TIONS F R O M TO P - U P
The following shall be deducted
from the Top-Up Loan:
• Interest in Advance
• Advance Redemption Insurance
• Outstanding balance from
existing GFAL account (if any).

AVA I LME NT O F TO P - U P
May be availed anytime during the
implementation period for GFAL.

GENERAL However, a member-borrower may

exercise this option only once.
POLICIES
 G FA L A P P LICATION FO R M
DOCUMENTARY Duly accomplished and endorsed by
Authorized Agency Officer (AAO).
REQUIREMENTS
(GFAL + TOP-UP) STATEMENT O F AC C O U NT
GSIS-prescribed Statement of Account (SOA)
signed by the authorized representative of
lending institution and concurred by
borrower.

S U P PO RTING LOA N D O C S
Copy of Borrower Loan Agreement, Loan
Voucher or any certified document showing
the details of the loan/s.

3 - MO NTH S PAYS LIP

For the last 3 months from date of application,
certified by AAO.
 GSIS has partnered with 146 agencies for the
GFAL, covering 61,938 government employees
As of 09.13.2019

DEPED PHILHEALTH SUPREME LGU

COURT SAN JUAN
( I N C LUD IN G LOW E R C O U RTS )
 GSIS has partnered with 146 agencies for the
GFAL, covering 61,938 government employees
As of 09.13.2019

HLURB COMMISSION ON UPLB CITY

POPULATION & GOVERNMENT OF
DEVELOPMENT SORSOGON
 Let us partner
together in uplifting
the life of every
Filipino.
 W E B SITE

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