MANILA – The State Pension Fund Government Service Insurance System (GSIS) raised over PHP 65 million in loan repayments made through Bayad Centers following the accreditation of more branches of the collection partner.
GSIS’s partnership with Bayad, which began in April this year, offers members a safe and convenient alternative to repaying their loans and supports the pension fund’s goal of improving its efficiency in loan collection.
“Initially, there were only 1,689 active Bayad outlets. As of September 2021, 2,836 Bayad collection sites across the country were accepting payments for GSIS loans, ”GSIS President and CEO Rolando Macasaet said in a statement on Friday.
Bayad accepts payments for Enhanced Salary Loan, Emergency Loan Assistance, Summer Month Salary Loan, eCard Cash Advance, Enhanced Consolidated Loan, Emergency Loan, Loan Emergency Housing, Study Now, Pay Later Loan, Fly PAL, Pay Later Loan, Education Assistance Loan, Stock Loan, Regular Policy Loan, Optional Policy Loan, Financial Aid Loan GSIS, Restructuring and Debt Repayment, Versatile Loan, IT Loan, and other GSIS loans to come.
Borrowers can pay their loans in advance; those who are underpaid, delayed or unpaid; or those in default or unpaid for more than six months.
Members only need to submit SMS notifications received from GSIS or loan balances displayed through the GSIS Member Online (eGSISMO) or GSIS Touch electronic app.
Afterward, they need to fill out a Bayad form for their full name, business partner number, loan type, among others.
Borrowers who pay through any of Bayad’s payment collection sites will receive a text message to confirm receipt payment.
They can also check their loan payment records through eGSISMO or GSIS Touch.
GSIS will also email the copy of the official receipt.
Palawan Pawnshop, M. Lhuillier Financial Services, USSC, and SM malls and grocery stores also receive GSIS payments.
Members can visit the GSIS website gsis.gov.ph or the Facebook page @ gsis.ph; send an e-mail to [email protected]; or call the contact center at 8847-4747 (Metro Manila), 1-800-8-847-4747 (Globe and Touch Mobile) or 1-800-10-847-4747 (Smart, Sun and Talk ‘N Text). (RP)