GSIS collection via Bayad hits P113-M

General

State pension fund Government Service Insurance System (GSIS) has already collected PHP113 million in loan payments after over 10 months of implementation of its partnership with Bayad (former Bayad Center).

“Maraming salamat sa suporta ng aming miyembro at pensiyonado (Thank you very much for the support of our members and pensioners). We have so far collected PHP113.33 million for 17,720 transactions with Bayad. Ito ay patunay na maginhawa, mabilis at ligtas ang transactions sa Bayad (This is a proof that transactions with Bayad are convenient, fast, and safe),” GSIS president and general manager Rolando Ledesma Macasaet said in a statement Tuesday.

GSIS’s collections include PHP36.06 million for 5,144 conso-loan accounts; PHP26.26 million for 2,018 GSIS Financial Assistance Loan accounts; PHP16.05 million for 2,396 Multipurpose Loan accounts; and PHP12.95 million for 3,395 emergency loan accounts, among others.

“Kaagapay kayo ng GSIS sa pangangalaga ng ating pondo sa pamamagitan ng pagpapabuti ng aming collection efficiency (You are the partners of the GSIS in protecting our fund through improving our collection efficiency),” Macasaet added.

To date, the GSIS has accredited 3,003 Bayad outlets to accept payments for loans in advance, that are underpaid, delayed or unpaid, or in-default or unpaid for more than six months.

Loan balances payable through Bayad include Enhanced Salary Loan; Emergency Loan Assistance; Summer One Month Salary Loan; eCard Cash Advance; Enhanced Consolidated Loan; Emergency Loan; Home Emergency Loan Program; Study Now, Pay Later Loan; Fly PAL, Pay Later Loan; Educational Assistance Loan; Stock Purchase Loan; Regular Policy Loan; Optional Policy Loan; GSIS Financial Assistance Loan; Program for Restructuring and Repayment of Debts; Multi-Purpose Loan; Computer Loan; and other upcoming GSIS loans.

To settle loans through Bayad, members only need to present the SMS notifications received from GSIS, or loan balances reflected in the electronic GSIS Member Online (eGSISMO) or in the GSIS Touch mobile app.

They then need to fill out a Bayad form for their full name, business partner (BP) number, and loan type, among others.

Loan borrowers who pay through any of Bayad’s payment collection sites will receive a text message to confirm receipt of their payment.

They may also check their loan payment records via eGSISMO or GSIS Touch. GSIS will also email a copy of their official receipt.

Loan payments from members are also now accepted through the online apps of Union Bank of the Philippines and Land Bank of the Philippines.

“Simula Mayo, magdadagdag pa tayo ng around 10,000 over-the-counter payment outlets at online payment channels mula sa iba’t ibang external payment service providers. Tatanggapin na rin ang monthly rentals payments sa mga nag-avail ng Lease with Option to Buy at loan payments mula sa mga inactive members. Patuloy po naming ilalapit ang aming serbisyo sa inyo (Starting May, we will add around 10,000 over-the-counter payment outlets and online payment channels from various external payment service providers. We will still accept monthly rentals payments from those who availed of Lease with Option to Buy and loan payments from inactive members. We will continue to bring our services closer to you),” Macasaet said.

Source: Philippines News Agency

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