MANILA – State pension fund Government Service Insurance System (GSIS) on Monday launched a new loan facility aimed at helping members reduce daily transportation expenses through affordable access to bicycles and electric mobility devices.
The Ginhawa Bike and E-Mobility Loan (GBEL) allows qualified members to borrow up to 100 percent of the unit cost, subject to a ceiling of PHP300,000, payable over 36 months at a 5 percent annual interest rate, with no service fee upon approval.
GSIS President and General Manager Wick Veloso said the program offers a practical solution for government workers seeking cheaper and more flexible commuting options.
“This program will give our members a practical option to manage their daily transportation expenses. We want our members to be able to move through their communities without that financial weight,” Veloso said.
The initiative supports President Ferdinand R. Marcos Jr. in promoting more livable and accessible communities, aligned with the Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT).
GSIS said the new facility complements its earlier Ginhawa Solar Energy Loan (GSEL), which focuses on lowering household electricity costs, by extending financial assistance to transportation needs.
Covered under the program are brand-new bicycles and various electric mobility units such as e-bikes, e-scooters, e-mopeds, cargo e-bikes, and folding e-bikes.
Applications are processed online through the GSIS Touch app. (PNA)