Manila: More than 463,000 government employees have received over PHP27 billion in loans under the Government Service Insurance System's (GSIS) Ginhawa Go Program, reflecting strong demand for affordable financing designed to steer public workers away from informal lenders.

According to Philippines News Agency, GSIS announced in a news release that it had disbursed PHP27.29 billion in microloans to 463,608 active members from October 24, 2024, to July 28, 2026, through the program. Initially known as Ginhawa Lite, it was relaunched as Ginhawa Go in February this year.

GSIS President and General Manager Wick Veloso emphasized that the program addresses a crucial need for members by providing quick and dignified access to credit, which prevents them from resorting to informal lenders. Veloso noted that the volume of loans released under the program is indicative of its effectiveness in filling a long-standing financing gap among government employees.

Finance Secretary Frederick Go, who spearheaded the relaunch of Ginhawa Go on February 19, described the initiative as a defensive measure against abusive lending practices. "This program protects employees from abusive lending processes," Go stated.

The Ginhawa Go Program offers qualified GSIS members the opportunity to borrow between PHP1,000 and PHP50,000 at a six-percent interest rate. The repayment terms range from 30 days to 24 months, depending on the loan amount. Applications are submitted through the GSIS Touch mobile app, with approved funds credited directly to members' accounts.

Additionally, the program includes loan redemption insurance, which settles any outstanding balance in the event of the borrower's death, thereby shielding beneficiaries from financial liability.