GSIS Launches GBEL Loan Program to Provide Cheaper Commuting Options for Gov’t Employees
MANILA, Philippines — The Government Service Insurance System (GSIS) has formally inaugurated a new credit window dedicated to sustainable transport, aimed at assisting its members in managing the escalating costs of fuel and public transportation.
The initiative, titled the Ginhawa Bike and E-Mobility (GBEL) Loan, was launched yesterday in alignment with the Marcos Administration’s "whole-of-government" strategy to enhance the socioeconomic well-being of the Filipino workforce. This program is integrated into the Unified Package for Livelihood, Industry, Food, and Transport (UPLIFT), a comprehensive suite of interventions designed to provide multi-sectoral relief.
The GBEL facility is structured to offer highly accessible financing for personal mobility. Under the established guidelines, the loan features the following provisions:
Credit Ceiling: Qualified members may borrow up to 100 percent of the purchase price of a qualified unit, with a maximum limit of ₱300,000.
Amortization Period: The principal is payable over a maximum term of 36 months.
Interest Rate: A competitive rate of 5 percent per annum has been set to ensure affordability.
Waiver of Fees: In a move to maximize the proceeds for the borrower, the GSIS will charge no service fees upon the granting of the loan.
GSIS President and General Manager Wick Veloso highlighted the strategic intent behind the facility, noting that it provides a long-term solution to recurring inflationary pressures in the transport sector.
"This program will give our members a practical option to manage their daily transportation expenses," Veloso remarked. "It is designed to provide immediate, tangible support to our members as they navigate their daily commutes."
The scope of the GBEL program is broad, covering an array of brand-new, electric-powered transport units. Eligible devices include:
Standard E-bikes and E-scooters
Electric mopeds and cargo e-bikes
Folding e-bikes and other similar e-mobility technology
In line with the pension fund’s digital transformation efforts, applications for the GBEL will be processed exclusively online. Members may submit their applications through the GSIS Touch mobile application, ensuring a streamlined, efficient, and transparent approval process.
According to GSIS President and General Manager Wick Veloso, the program is designed to provide immediate and practical assistance to members dealing with daily commuting expenses.
“This program will give our members a practical option to manage their daily transportation expenses,” Veloso said.
The GBEL covers a range of brand-new electric mobility devices, including e-bikes, e-scooters, e-mopeds, cargo e-bikes, folding e-bikes, and other similar units. Applications can be conveniently processed online through the GSIS Touch mobile app.
Through this initiative, GSIS aims to promote cost-efficient and environmentally friendly transport alternatives while easing the financial burden on its members.
