RPSL Application Form

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GOVERNMENT SERVICE INSURANCE SYSTEM

RESTRUCTURING PROGRAM FOR SERVICE LOANS (GSIS-RPSL)


Form No. 09062022-RPSL-REV 0
THIS APPLICATION SHALL NOT BE PROCESSED UNLESS COMPLETELY FILLED OUT.
WRITE “N/A” IF THE INFORMATION BEING ASKED IS NOT APPLICABLE.

WARNING: Direct or indirect commission of fraud, collusion, falsification, misrepresentation of facts, or any other kind of anomaly in
the accomplishment of this form, or in obtaining any benefit under this application, shall be subject to administrative and/or criminal
action.

Name of Applicant Birth Date (MM/DD/YYYY)


Last Name First Name Middle Name
Business Partner No. Mobile Phone No. Email address

Mailing/Residential Address Landline

No. Street Brgy/District Municipality/City Zip Code Area Code Number

Former Office/ Office Address

UNDERTAKING

1. I certify that the information provided in this form are true, correct, complete and updated.
The signature appearing above my printed name below is authentic.
2. I agree to abide by GSIS policy to submit my GSIS application for benefit claim within the
prescriptive period to forestall loss of future benefit, if any.
3. I authorize GSIS to deduct my Outstanding Balance (OBAL) from my future benefits, if any.
4. I unconditionally agree to the TERMS AND CONDITIONS of the GSIS’s RESTRUCTURING PROGRAM
FOR SERVICE LOANS (GSIS-RPSL) printed at the back of this application form.
5. I authorize:
a. GSIS to regularly submit and disclose my credit data [as defined under Republic Act (R.A.)
9510 and its Implementing Rules and Regulations] to the Credit Information Corporation
(CIC) as well as any updates or corrections thereof; and to send us updates about my loan
applications/account through SMS/text, email, mail or other available means of
communication; and
b. CIC to share my credit data with accessing entities, outsourced entities and data subjects, in
accordance with the Implementing Rules and Regulations of R.A. No. 9510.
6. I hereby further waive confidentiality rules and laws as applicable to establish correctness, validity,
and authenticity of documents that would help facilitate the processing and evaluation of my
application.
7. In case that it is proven that I have given false information or misrepresentation in this document or
in any other documents submitted in connection with my application for GSIS-RPSL, it shall be
considered a ground for disapproval of the application, cancellation of the loan, and shall be a
cause for the total outstanding obligation including condoned penalties and surcharges to be due
and demandable and shall be subject to other sanctions provided in GSIS policies.
8. I agree to notify GSIS of any material change affecting the information contained herein. I agree
that all information obtained by GSIS shall remain its property whether or not the loan is granted.
9. I agree that the Loan Redemption Insurance (LRI) Premium shall be subjected to regular actuarial
review and may be subject to change during the duration of the loan so as to assess the program
viability.
10. I further agree to be bound by the current and general policies of GSIS and those that GSIS may
adopt in the future, that may have relation to or in any way affect my loan.

I understand that the processing/servicing/filing fee, notarial and all other fees pertaining to my loan
obligation shall be for my account.

Name and Signature of Borrower/ Authorized Date


Signed Representative

Educational Assistance Loan (EAL); (o) Stock Purchase Loan (SPL); (p)
Policy Loan (PRG); (q) Optional Policy Loan (POL);
Coverage
(r) GSIS Financial Assistance Loan (GFL); (s) Program for Restructuring and
Repayment of Debts (PRD); (t) Multi-Purpose Loan (MPL); (u) Computer
1. This program shall apply to the following borrowers, regardless of
Loan (CPL); and (v) All other loans that may be introduced by GSIS in the
their Period with Paid Premiums, age, and/or future benefits: (a)
future.
Inactive members; (b) Old-age pensioners; (c) Those who previously
availed of Program for Restructuring and Repayment of Debts
(PRRD); and (d) Re-employed members who cannot qualify or
benefit from the Multi-Purpose Loan Program.

2. This program shall cover the following service loan accounts that
are already considered in default: (a) Salary Loan (SL); (b)
Enhanced Salary Loan (ESL);
(c) Restructured Salary Loan (RSL); (d) Emergency Loan Assistance
(ELA);
(e) Summer One-Month Salary Loan (SOS); (f) Member’s Cash
Advance (MCA); (g) eCard Plus Cash Advance (ECP); (h)
Consolidated Loan (CNL); (i) Enhanced Conso-Loan (CNL); (j)
Emergency Loan (EML); (k) Home Emergency Loan Program (HLP);
(l) Study Now, Pay Later (SNP); (m) Fly PAL, Pay Later (FPL); (n)
Exclusion

The following loan accounts are not covered by this PPG: (1) Real
Estate Loan; (2) Deed of Conditional Sale; (3) Restructured Real
Estate Loan; (4) Pension Loan; (5) Pension Emergency Loan; and
(6) Pensioner’s Restructured Loan.

FOR GSIS USE ONLY


Received by / Date: TMS Reference No. Date Created:

THIS APPLICATION IS NOT FOR SALE AND MAY BE REPRODUCED.


Date of Loan Granting June 24, 2022
1. Condonation of Penalties/Surcharges. For inactive members and old- First Due Month August 2022
age pensioners, all unpaid penalties and surcharges that have FDD On or before September 10, 2022
accrued on the OBAL of their eligible service loan accounts from the
date of their separation to date of availment of the GSIS-RPSL shall 7. Grace Period in the Payment of Amortization. There shall be a grace period of
be condoned. ten (10) calendar days from the date when the repayment falls due. No
penalty or surcharge shall be imposed on repayment made during this
For borrowers with existing PRRD accounts, the penalties and period.
surcharges that have accrued from the date of default of the PRRD
loan to the date of availment of the GSIS-RPSL shall be condoned.

For re-employed members, the condonation of penalties and


surcharges shall be computed from the latest date of separation
prior to last re-employment up to the date of availment of GSIS-
RPSL.

2. Settlement of Account. The OBAL, net of condoned penalties and


surcharges, may be settled by the borrower in full or by installment,
with a required minimum down payment (DP) of ten percent (10%)
of the OBAL after condonation.

The restructured balance shall be subject to an interest rate


computed per annum compounded annually (p.a.c.a.), as follows:

Interest Rate on the


Option DP Remaining Balance
for Restructuring
1 At least 6%
10%
2 At least 5%
25%
3 At least 4%
50%
4 At least 3%
75%

3. Computation of OBAL and Eligibility of Borrowers

a. Full Payment Option. The borrowers may opt to fully pay


their outstanding obligation/s to be computed as follows:

Account Amount
OBAL as of Date of Availment xxx,xxx.xx
Less: Condonable Amount
Penalties xx,xxx.xx
Surcharges xx,xxx.xx
Remaining OBAL after Condonation xx,xxx.xx
(TO BE PAID IN FULL)

b. Restructuring Program:

All borrowers with outstanding service loan obligation are


eligible to avail of the restructuring program.

For old-age pensioners, however, the following additional


conditions should be satisfied:

i. the old-age pensioner’s basic monthly pension (BMP) is


greater than the tentative computed monthly
amortization; and

ii. the resulting BMP after pension loan, pensioner’s


emergency loan and GSIS-RPSL amortization must at
least be 25% of the BMP.

This restructuring program shall allow borrowers to avail of


lower interest rates depending on the chosen DP.

Account Amount
OBAL as of Date of Availment xxx,xxx.xx
Less: Condonable Amount
Penalties xx,xxx.xx
Surcharges xx,xxx.xx
Remaining OBAL After Condonation xx,xxx.xx
Less: Chosen DP xx,xxx.xx
Net OBAL for Restructuring xx,xxx.xx

4. Payment Schedule. The restructured balance may, at the option of the


borrower, be paid within a period of one (1) year but not more than
five (5) years. In the case of old-age pensioners, the computed
monthly amortization shall be deducted from their monthly pension
until fully paid, in accordance with the policies on pension
administration.

5. Loan Redemption Insurance (LRI). An LRI cover shall be attached to the


restructured loan, computed based on the LRI rate provided and the
Net OBAL for Restructuring to be amortized.

The premium for LRI shall form part of the computed monthly
amortization of the restructured loan and shall be subjected to
regular actuarial review and may be subject to change during the
duration of the loan so as to assess the program viability.

To ensure that the member is covered with LRI from the date of loan
restructuring, an advance LRI premium equivalent to one (1) month
shall be collected upon approval of the GSIS-RPSL application
together with the DP.

In case of death of the borrower within the payment period, the


theoretical balance of the restructured loan shall be covered by the
LRI provided the loan is not in default. However, any arrearages
equivalent to the difference between the OBAL and the theoretical
balance shall still be collected from the heirs of the deceased
member.

6. Due Date of Monthly Amortization of the Restructured Amount

The first due date (FDD) of the restructured loan amortization shall
be on or before the 10th day of each month following the First Due
Month (FDM). Meanwhile, the FDM depends on the date of the
granting of the loan.

If the loan is granted on or before the 23 rd day of the month, the FDM
shall be the calendar month following the granting of the loan. To
illustrate, the table below shows the FDM and FDD of a loan that is
granted before the 23rd of the month.

For example:

Date of Loan Granting June 10, 2022


First Due Month July 2022
FDD On or before August 10, 2022

If the loan is granted after the 23 rd of the month, the FDM shall be the
2nd calendar month following the granting of the loan. For instance,
the table below shows the FDM and FDD of a loan that is granted
after the 23rd of the month.
as sufficient notice to the borrower for all legal intents and purposes.
8.
8. Filing of GSIS-RPSL. The processing of unclaimed benefit and
deduction therefrom of outstanding obligations, if any, shall
follow the existing policies on determining the reckoning MEMBER-BORROWER / DATE SIGNED
dates in the accrual of interests for service loans and shall AUTHORIZED REPRESENTATIVE
precede the processing of the GSIS-RPSL.
(Signature over Printed Name)
The GSIS-RPSL may be filed through any of the following modes:
TIN
a. Over-the-counter (OTC) at any GSIS office;
b. Through drop box or courier service; or
c. Through GSIS email or eGSISMO, if applicable.

9. Documentary Requirements. The following documents should be


submitted to the GSIS before an application for GSIS-RPSL is
accepted:

(a) Accomplished Application Form for GSIS-RPSL duly


signed by the borrower or the borrower’s representative/s;

(b) Clear photocopy or scanned copy of GSIS eCard, valid


passport, PhilID or any two (2) acceptable government-issued
IDs or documents with date of birth and signature; and

(c) Notarized Special Power of Attorney (SPA), if applicable.

10. Transactions through Representative/s. Borrowers may


designate their agent/s or representative/s to sign the
Application Form, Restructuring Agreement and/or other
related documents for GSIS-RPSL. For this purpose, a
notarized SPA which specifically authorizes the agent/s to sign
the documents related to GSIS-RPSL must be submitted.
Nevertheless, documents relating to an application for claim
of GSIS benefits cannot be the subject of an SPA.

For all other purposes, an authorization letter would suffice.

11. Payment Mechanism. Subject to applicable rules, the


following modes of payment shall be available to GSIS-RPSL
availees:
a. OTC payment in Cash and/or Manager’s Check in any GSIS Office;
b. OTC payment through authorized External Payment Service
Providers;
c. Payment to any of the GSIS approved Online Payment Facilities;
d. Payment to be shifted to payroll deduction in case of re-
employment; and
e. Payment to be shifted to old-age pension deduction, in
case of retirees who will receive their pension after the
guaranteed period under R.A. No. 8291, or at the age of
60 under R.A. No. 8291 or P.D. No. 1146, in accordance
with existing policies on pension administration.

12. Penalty for Arrearages. An account incurs penalty for arrearages if:
a. There is payment for monthly installment but such payment is
delayed;
b. The actual amount paid is less than the amount due for the month;
or
c. There is no payment made for the month.

It shall incur a penalty of one percent (1%) per month,


compounded monthly until the arrears are paid. A fraction of
a month is considered one (1) month.

13. Application of Payments


a. Every payment shall be applied to the amount due,
following this order of priority:
i. RI premium;
ii. Penalty, if any;
iii. Interest; and
iv. Principal.
b. If in arrears, the “move-up” policy shall be adopted
wherein the payments are first applied to the earliest
unpaid month until the month’s full amount due has
been fully paid.

14. Default. A restructured loan account is considered in default


when the total unpaid obligation is equivalent to more than
six (6) monthly amortizations.

In the event of default, the OBAL of the restructured loan


becomes due and demandable without need of demand or
further notice. In case of failure to pay the OBAL declared in
default, the OBAL shall be charged with a penalty of twelve
percent (12%) interest p.a.c.m. and surcharge of six
percent (6%)
p.a.c.m. from the date of default until the date of full payment.

A GSIS-RPSL account that is in default shall be the subject of


appropriate legal action. If the borrowers have unpaid GSIS
benefits that are due at the time that the borrowers have
defaulted with their GSIS-RPSL, the GSIS benefits shall be
applied as payment to the OBAL of the defaulted loan and the
remaining balance, if any, shall be subject of appropriate
legal action.

15. Pre-Termination. The restructured loan may be pre-terminated


by paying the OBAL before the end of the loan term. No fees
shall be charged to the borrower in case of pre-termination.

16. Refund of Overpayment after End of Loan Term. At the end of the
loan term, any overpayment shall be treated in accordance
with the policies on the refund of loan overpayments.

17. Non-Renewal. The GSIS-RPSL is a one-time offer of the GSIS


and is not renewable.

18. Attorney’s fees. Should the GSIS be compelled to refer the loan
or any portion thereof to an Attorney-at-Law for collection or
to enforce any right hereunder against the borrower or avail
of any remedy under the law or this Agreement, the borrower
shall pay an amount equivalent to twenty-five percent (25%)
of all amounts outstanding and unpaid as and for attorney’s
fees and litigation expenses.

19. Venue. Any legal action, suit or proceeding arising out or


relating to this Agreement, shall be brought or instituted in
the appropriate courts in the City of Pasay or such other
venue at the exclusive option of GSIS. In the event the
borrower initiates any legal action arising from or under this
Agreement, for whatever causes, the borrower agrees to
initiate such action only in the City where the principal office
of GSIS is located.

20. Notices. All notices required under this Agreement for its
enforcement shall be sent to the residential address indicated
in the personal data portion of this loan application. The
notices sent to the said address shall be valid and shall serve

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