GFAL MOA SIGNING
Memorandum of Agreement (MOA) signing with Government Service Insurance System (GSIS) in Gerona for the implementation of a Php256 million loan facility for government employees under the GSIS Financial Assistance Loan (GFAL).
“GFAL is GSIS’s response to the call of President Rodrigo Duterte to help government employees settle their financial obligations with lending institutions. GSIS will refinance their loans up to Php500,000 with lending institutions at a lower interest rate of six percent per annum and payable at a longer term of up to six years. GFAL borrowers stand to take home higher take-home pay and protect their retirement benefits from future deductions.”
All GSIS offices nationwide are open from Monday to Saturday to accept GFAL applications.