GSIS Conso-Loan Plus Program Guidelines

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GSIS NO. 141: GSIS Conso-Loan Plus Program Guidelines

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Title Supreme Court: GSIS Conso-Loan Plus Program Guidelines

Law: Gsis No. 141

Decision Date: Oct 18, 2006

The GSIS Consolidated Salary Loan (Conso-Loan Plus) Program establishes policy guidelines for loan amortization, requiring the first payment on the 10th day of the third month post-loan approval, with subsequent payments due monthly.

loan guidelines

payment application

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Due Date for Monthly Amortization

The first monthly amortization payment is due on the 10th day of the third calendar month following the granting of the loan.
Subsequent payments are due on the 10th day of every succeeding month thereafter.
Payments continue monthly until the loan is fully amortized.

Application of Payments

Payments made by the borrower shall be applied in the following order:
1. Principal
2. Interest
3. Penalty
This priority ensures that the outstanding principal is reduced first before interest and penalties.

Effectivity of the Policy Guidelines

The Policy Guidelines become effective immediately upon approval by the GSIS Board.
The attached document containing the full text of the guidelines is an integral part of the Resolution.

Additional Information

The full text of the Policy Guidelines is available at the Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.
The Resolution was adopted during the 19th Board Meeting on October 18, 2006.

END