Fy GSIS MULTI-PURPOSE LOAN AND CONSOLIDATION OF DEBTS (MPL) = Form No. 11192019-MPL-REV 0 IMPORTANT: Before applying for the GSIS Multi-Purpose Loan, please secure tentative computation of your proceeds. ‘Name of Applicant Tast Name Fist Name Tiida Name Birthdate BP No. ‘eCard/UMID Card No. ‘eCard/UMID Bank Account No. Mailing/Residential Address Brosent Office Telephone No, Gell Phone No. Email Address For DepEd Personnel Division No “Salon No. ae LOAN AMOUNT;FIees0 encircle yourchoic or inst prefered lan amour) TYPE OF LOAN Basie Monthly Salary ; TES ae eer ee ae ae] ew Renewal Proferred Loan AmountAny amount ower than th maximum oan) | Phy i any a = (Pease check choice) L undertake to pay the loan within years. (Please indicate applicable loan term.) TERMS AND CONDITIONS 1. Loaw awouNT 2. CONSOLIDATION OF LOANS The GSIS:MPL shal consolidate the following loans, inthis order 2. Minimum Loanable Amount. The minimum loanable amount sha a Salary Loan SL), be based on indebtedness of the borower at the bme of application 1 Restrucred Salay Loan (RSL) ©. Enhanced Salary Loan (ESL) eve of ndebieess | — Wim Conable Aout Emergency Loan Assistance (ELA) No ssndog bats bbe ‘ous {© Summer One-Month Salary Laan (SOS) conte ter MPL £ Conso-Loan Plus / Enhanced Gonso-Loan Pius Wie_cunara ae @ Member's Cash Advance / eCard Cash Advance | eCard Phis {OBAL) tobe amotdnnd ash Advance err Emergency Loan (EML) Bacal pete |. Home Emergency Loan Program (HELP) “ 7 |, Educational Assistance Loan I and i (EAL 1/1) tong snare 319% 0 Fly PAL Pay Later (FPPL) coneciote te fms ad fone Stuy Now, Pay Later (SNPL) ‘aumpson aurea) and oer 1m, Stock Purchase Loan (SPL) ‘Si Wappen ‘The consolidation of the loans shall result in the ful liquidation of the b MUA con, Setat 05% oe oustanding ‘utsiandng balances on the above loans. The outstanding balances of aanes such loans, including penates (fany){o be waved, shall be computed up to the date of granting of the MPL. Maximum Loanable Amount 3. TERM 1) For Reauar Acive Members. The maximum loanable amount shal depend onthe members: Period wth Paid Premiums (PPP) 0 See Seen ago er ca tea ang computed Basie Monthy Salary (BMS) based on actual ant promums posted Table indicates the maximum loanable vee wedtTeane | “Pome orieceey a able 1. Maximum Lounabie Amount a ‘aaa 20 os Baas | — Sys Ta ree wn Te | Pan a 5 f -bat20 os Bass | 3XBS | — 9B angen, | aa than 3 yeas than yous leas 3 buts cr BMS ‘inst 8 ats ya ae than 8 years than 20s, eae 5 but a TBS 7xBNS Te 25 ears a rr | TE sya ‘han 10 yore ‘east 10 bat as ToxeNe Toxo shan 15 years ©, For Special Members wth MOA wh the GSIS. The lan term ofthe Aiea 8b axBNS xNS oie eae east 25 years and ovee | WBNS re ©. {fith exsina Home Emerency Loan Program (HELP) account. the 2) For Special Members. The loanable amount for Judges and een aoe naan ustis Jona spacia eaters se existing] Memoranda at 4. The borrower shall be given the option to choose a shorter term in SC eee eee Deac of () For Pertanentenpioyoes without Terenure 3 o a 5 years. (i) For Non-Permanent and Permanent with Term/Tenure:2 3) The member can choose the amount of loan and the (i) For Special Members wih MOA withthe GSIS:3 or 5 years: (If corresponding loan term based on hs or her PPP, but not 10 with existing HELP account: 3, 8 of 7 years. exceed Php’ 000,000.00 2. Failure to inaicate payment term shall be interpreted as preference for 4) The member, both regular and special, has the option to choose. fhe longset torn ta wach the morroor a quater 2 lower loan amount provide thet the proceeds ofthe loan wil be sulfcient to cover agaregate balance for the existng Ioan INTEREST. The interest rate shall be eight percent (8%) per annum counts nea te eed Computed in advance for members wih PPP of less than 3 years, and 5) Failure to indicate the prefered loan amount shall mean thatthe ‘seven percent (7%) per annum computed in advance for members with ‘member is applying forthe maximum loan amount for which the PPP of atleast 3 years. The effective rte per annum that shall be used ‘members qualified to avail wil be 2s flows:‘a. Permanent without TermyTenure "aa mt eS ee arearegerr]| SSE" || amb ee| os sara Se ae | ye ‘amo nee} Tye oo neato | Tye — 1. Non-Permanent and Permanent with Term/Tenure PPP Loan Term | inert | ctv intrest inyears)_| “Rate | "Rat in) Aus | 2yeas | 8% | 15 7087i% Mies eaten | —2years | 7% | 73 70302% ‘leas bast | — 2 yeas 3.70802% ‘ina Oba | — Byes TST ‘eat Fide —Syeas TB 261 ‘ae 5 yar 363} —§ yrs 13 24615% For Special Members with MOA with GSIS 1s ‘Loan Term | terest (inyears) | "Rate ‘Areast sons | Syeas | — 8% ‘years TS 076BT% Tyears com d._lfwith existing HELP account (inyears) ato eR) ‘gear ar |S yous 15 35845% "Aaa 0 ox Ba | 5 ars 15 07681% ieee yer Dock Aigsrities | Byeas T8246T3% ‘css bales —| 8 yoars T2415 hanya = vale ats | —Toyears 12 33364% ‘al bes | —Toyears 1233368% Toyears TEIAK ‘The monthly interest on outstanding balance of the loan shall be computed ‘based on diminishing balance. Pro-ala intrest covering the days from Joan granting upto the end ofthe month prior othe st due month shall be deduced in advance fom the loan proceeds DUE DATE OF FIRST MONTHLY AMORTIZATION. The remittance dus date of the monthly amortzations shal be on or before the 10" day ofeach ‘month following the due month until the loan is uly paid ‘2. For loans granted on or before the 23° of the month, the fst due ‘month shall be the calendar month following the granting of the lean, ‘The loan amortization shal be remitied by the agency to GSIS on oF before the 10" of the month folowing euch due month 'b. For loans granted afte the 23" of the month the fst due month shall, be the 2* calendar month following the granting ofthe loan, and shall, be remitted by the agency to GSIS on or before the 10” day af the "month flowing such due month PAYMENT MECHANISM, The monthly amortization shall be paid through ‘payroll deduction, However, the borrower shall itecty remit tothe GSIS, for to its extemal payment service providers the loan Instaliment as they fall due under any ofthe folowing instances ‘a. The name of a memberborrower is excluded from the monthly collection ist 'b, The member-borrower is on secondment, on study leave without pay or extended leave without pay © The monthly amortization is not deducted andlor remitted by the ‘agency for anyother reason aside from tem 6b) above, 1d. The loan amortization deducted from the payrol ie not sufcient to cover the ful amount du. [REDEMPTION INSURANCE (RI). The MPL shall have Rito safeguard the Interests ofboth the member and the GSIS in case ofthe formers untimely «death curing the term ofthe loan, The R rate shal depend on the term of oan, 0 wit = ont RI Rate (Per Pnpi.000 of Loan Amount) Treas Bay ow. Years 9 pay years pay 0.36. 7 years 19 pay 40) 10 years to pay 046 To ensure that the member is covered with RI from the date of loan granting, an advance RI premium shall be deducted from the loan proceeds as flows Date of Loan Granting Ri Premium to Be Deducted Equivalent to 1 month Equivalent fo 2 months Chor before the 23° ofthe me ‘Alter the 23° ofthe mo, ‘COMPUTATION OF FEES. The folowing fees shall be charged upon loan granting Service Fee ~ 2% ofthe gross loan amount (or ntal Ioanavaliment) (oF incremental gross loan amount (or loan renewal). For this purpose, the Incremental gros loan amount refers tothe lference, ‘between the loan amount and the outstanding balances ofthe existing loans tebe consolidated. iis the amount that can be borrowed before the imposition of insurance and other fees; and b. _eProcessing Fee ~ Pnp50.00. 9, PRE-TERMINATION.The MPL may be pre-terminated by paying the ‘outstanding balance of the loan before the end ofthe loan term, 10. COMPULSORY PRE-TERMINATION. The loan agreement shall be {deemed pre-erminated upon the death, resignation, permanent dsabity, fetirerent or separation from service ofthe borrower in which ease, the ‘outstanding balance shall be due and demandable and shal be collected by GSIS from the claims ofthe borrower or of his or her hers, or through appropiate legal action. Rettig borrowers may opto aval ofthe Choice ‘f Laan Amorzaion Schecule for Pensioners (CLASP) subjectto existing policies and procedures. 11. COLLECTION IN THE EVENT OF RESIGNATION, SEPARATION, RETIREMENT, DEATH OR PERMANENT TOTAL DISABILITY. After the date of execution of this loan application, the empioyeriagency shall withhold the release of any or all benefits due to the borrower unt after ‘he requisite clearance andlor statement of account, ary, shall have been duly secured from the GSIS, pursuant to GSIS Memorandum Circular No (008, Series of 2018. The GSIS, upon receipt of he request, shal issue the ‘appropriate clearance andlor etatement of aocount tothe duly authorized representative of the employeriagency. The employeriagency, upon ‘receipt of the statement of account ffom theGSIS, shall deduct andlor withhold from any or all benefits that may accrue tothe borrower, the total ‘amount corresponding fo the outstanding loan accounts and arrearages, ‘any, and remit the same tothe GSIS to liquidate the loan 12. CANCELLATION. Borrowers. shall be allowed to cancel the loan ‘agreement within a perio of hry (30) calendar days fom the date ofan Granting. In cases of cancellaton of the loan upon the behest of the Borrower, the principal amount or the face value inthe loan contract), plus the pro-rata interest covering the days fram loan granting Upto the actual cancellation of the loan shall be paid in ful. The cancelation ofthe oan shal reuit inthe reversal of all ioans previously consoldated under the MPL, including waived penalties, if ary. These loans shall be re ack to dcve status, and shall be computed corresponding interest ‘surenarges that have accrued from the ime they were hquidated under the MPL. 18, DEFAULT. In the event of default the outstanding balance of the loan becomes due and demandable without need of demand or futher notice, all of which the member expressly waives n case of failure to pay the ‘utstancing balance declared in default, the oustanding balance shall be Charged a penalty of 18% per annum compounded monthly (pam), broken down as interest on the outstanding balance) of 123% pcm. and Surcharge of 6% p acm. from the date of default unl the date of fll payment, Accounts in default shallbe endorses for appropiate lagal action ‘thin tity (30) working days from default, 14, APPLICATION OF PAYMENTS. The order of prot for the application of ‘payment shall be as folows: Rl premium, surcharge (f any), inerest and principal 16, RENEWAL. The MPL may be renewed anytime as long as there are net proceeds on the loan renewal, after deducting the outstanding balances of the previous MPL and other loans enumerated under item 2 of this appiaton, withthe penalties if any. The maximum loanable amount and ‘applicable interest rate and loan term shall be determined based on the PP of the member-bocrower atte Ume of application for lean renewal. 16, RECOVERY OF AMOUNT/S CREDITED IN THE @CARD. GSIS shall have the right to recover any undue amount that i has credited in the (eCard due fo aud. misrepresentation or err 17, REFUND OF OVERPAYMENTS AFTER END OF LOAN TERM. At the fend ofthe loan term, any overpayment shall be trealedin accordance wit the poley guidlines on the weatment of excess payment. 18, ATTORNEY'S FEES, Should the GSIS be compelled to refer the loan or any potion thereof oan Atforney-at-Law for callection of to enforce any Fight hereunder against he borrower of aval of any remedy under the law for this Agreement, the borrower shall pay an amount equivalent to 25% of allamounis outstanding and unpaid as an for attomey s fees andiigaton expenses. 19. VENUE. Any legal action, sult or proceeding arising out or relating to this ‘Agreement, shall be brought or instituted Inthe appropriate cours in the CC of Pasay or euch other venue atthe exclusive option of GSIS. In the event the borrower initiates any legal action arising from or under this ‘Agreement, for whatever causes, the borrower agrees to iniiate such ‘action only in the City where the principal office of GSIS is located 20. NOTICES. All notices required under tis Agreement for its enforcement hall be sent tothe Office Address or the Residential Address indicated the Personal Data portion of this loan application, The notices sent fo the said Office or Residental Addrese shall be valid and shall serve a Sufficient notice to the borrower fr al legal intents and purposes. | cain that | have read ard ful understood the GSIS MULTEPURPOSE LOAN AND ‘CONSOLIDATION OF DEBTS WITH LOWER INTEREST RATE (MPL) Tes and Consors ‘nd undeike to comply with them. Furthermore, | hereby auhore the GSIS,Peugh -myemployer(owamient spe), ded fam my terminal ave aves any remaining ‘ustanng ean ablgatons | may have wi the GSS upon my spartan or rlvemert. | understand that the emitance there! by my employer ote GSIS shal et be urdeiaken ‘befrehessuance ofa GSIS clearance fre eas ony remaining mia lave beets Hany. | confim my andestarang of the Privacy Potey ofthe GSS pursuant othe reqaements of Fen et (4) No. 10172, anne dnown a he Data Pray At and concert oe ‘manner of coleton uso, access, dicosure and processing of my persona and senstve persona data bythe GSS. Final, pursuant to A. No 9510, arse koa 2th "Cred formation System At and {5 Implementing Res and Repuetons (RR)! Peedy acknowedge and consent 1) he regul stmissin and isos of my base cred dota and updates teen io te Cre Inlematon Capoten CI} and 2) he sharing ny base ced data wth nes auharzed bythe CC, an eee eprting agencies and csauced eno dy acceded by he CIC siete provsonsaFR.A.Na 9510, IRR ar ce eva las and regulon, EMBERIBORAOWER (Sigur ov Pred None) DATE SIGNED BRIN