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(NAR) VOL. 18 NO. 1/JANUARY - MARCH 2007

[ GSIS RESOLUTION NO. 190, December 20, 2006 ]

INCREASE IN THE MAXIMUM LOANABLE AMOUNT



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):

  1. The two (2) BMS will replace the P10,000 or P15,000 increment originally provided in the Conso-Loan Program.

  2. 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:

Record of Creditable Services
Previous
Proposed
< 20 mos
10 k
None
> 0 mos
1 BMS + 10 k
3 BMS
> 40 mos
2 BMS + 10 k
4 BMS
> 5 years
5 BMS + 10 k
7 BMS
> 10 years
8 BMS + 10 k
10 BMS
> 15 years
8 BMS + 15 k
10 BMS

 Adopted: 20 Dec. 2006 (Board Meeting No. 23)

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