GSIS RESOLUTION NO. 190, December 20, 2006
INCREASE IN THE MAXIMUM LOANABLE AMOUNT
National Administrative Register December 20, 2006
RESOLVED, to APPROVE the increase in the maximum loanable amount under the GSIS Consolidated Salary Loan (Conso-Loan) Plus Program to a sum equivalent to two (2) times the Basic Monthly Salary (BMS):
- The two (2) BMS will replace the P10,000 or P15,000 increment originally provided in the Conso-Loan Program.
- Rate of return for the money placed in the Conso-Loan will be 12%, which is higher than the 5-year Treasury Bond coupon rate of 7.25%.
The proposed amendments to the loan amount are as follows:
Adopted: 20 Dec. 2006 (Board Meeting No. 23)