GSIS loan is a type of loan that can be availed of by government employees. GSIS or Government Service Insurance System is an insurance system that provides social security insurance to the government employees in the Philippines. While this is mainly for the life insurance, death benefits, disability benefits and retirement benefits of the members, it’s possible to get a loan from the policy, which can be paid monthly or can be taken from the total amount of the policy upon its maturity. If you meet the GSIS loan requirements, which are GSIS membership and paid contribution for at least 20 months, then you may apply at any of the GSIS offices near you. The interest rate is 12% per annum, which is compounded annually. Since it’s compounded, you might accumulate bigger interest in the long run. Payment period is 6 to 10 years.

Pag-ibig Multi-purpose loan is an alternative to GSIS loan. You must have at least 24 months contributions in order to be considered for its salary loan. The amount that you can borrow is calculated by multiplying the number of months that you have been paying your contributions, the amount of your contribution and the loan factor. Its 10.75% per annum interest rate is lower than the GSIS loan interest rate. This rate is for the entire duration of the loan and it’s not compounded so it’s better. Payment is made through salary deduction.

There are also banks and lending companies that offer low interest rate. There are dime a dozen of companies that are now offering attractive loan options. Some have requirements that are very easy to meet, although the catch is that they often have higher interest rates. Since you are looking for low interest options, Loansolutions can help you with that.

We have partnered with trusted banks and loan providers in the Philippines to help find the lenders that match your needs. You can personally decide on which of these matching lenders to apply to in order to get the lowest rate possible. Aside from their varying interest rates, their terms and payment options may also differ from each other. Get to know more about their offers in order to make the best decision. These banks and companies perform credit check to ensure that borrowers can pay. Loansolutions is here to help borrowers to get their loans approved.