The Government Service Insurance System (GSIS) has launched the Digital Ginhawa Loan, a new gadget loan program that allows government workers to borrow up to P60,000 for the purchase of a computer, tablet or cellphone for work or study.
The loan, payable over three years, carries a 6-percent interest rate per annum and no service fee. Applications for the loan can only be submitted through the GSIS Touch mobile app, which ensures a fast, paperless application process.
Approved loan proceeds will be directly credited to the member’s GSIS ATM account within one to three banking days following approval by the agency’s authorized officer. The program officially started on Oct. 10.
GSIS president and general-manager Jose Arnulfo Veloso said the loan aims to make digital tools more accessible to the agency’s members.
“We know the reality. With work-from-home and online learning, computers and gadgets are necessities, not luxuries. That is why we launched the Digital Ginhawa Loan to help our members acquire the equipment for their work and studies,” Veloso said in a statement.
The new program continues the success of the GSIS Computer Loan Program, which was launched in 2020 during the pandemic and benefited over 355,000 members, disbursing more than P10.67 billion.
To qualify for the Digital Ginhawa Loan, applicants must be active in service with a permanent appointment, have no pending administrative or criminal case and have no defaulted GSIS loans, excluding housing or computer loans.
The program also includes Loan Redemption Insurance to fully pay the remaining balance in the event of the member’s death during the loan term.
It is also meant to encourage members to keep up with the digitalization of GSIS services, which are now accessible through the GSIS Touch mobile app. The app allows members to apply for loans, check records, update contact details, and even apply for pension and insurance benefits.
