GSIS fast-tracks loan refunds, credits within 3 days after approval

MANILA – The Government Service Insurance System (GSIS) is fast-tracking the release of loan refunds under its “Balik Ginhawa” program, with approved applications credited to members within three working days.

GSIS Executive Vice President Joseph Philip Andres said in an interview on Bagong Pilipinas Ngayon on Friday that the streamlined processing is part of efforts to provide immediate financial relief to members and pensioners amid rising costs.

“Within three working days po, ito po ay maki-credit na po sa kanilang ATM… sa loob po ng tatlong working days ay maibabalik na po sa kanila ang kanilang refund (Within three working days, this will be credited to their ATM… within three working days, they will get their refund),” Andres said.

He said the program refunds up to three months’ worth of loan amortizations covering payments made from December 2025 to February 2026, provided borrowers have no arrears.

Andres explained that loan deductions will continue, but the repayment period will be extended by three months without additional interest or penalties.

“Wala po itong cost sa kanila… ipu-push out lang po natin by three months ang end ng kanilang amortization period (There is no cost to them… we will only push out the end of their amortization period by three months),” he said.

He noted that refund amounts may range from PHP12,000 to PHP117,000 depending on the borrower’s monthly amortization.

Since the program was launched, Andres said more than 453,000 members and pensioners have already received refunds totaling over PHP6.5 billion, part of the estimated PHP19 billion allocation for 1.37 million qualified beneficiaries.

He added that the application process is fully digital through the GSIS Touch mobile app, allowing members to apply, view projected refund amounts, and receive approval updates online.

The program runs until Oct. 31, 2026 and is part of the government’s broader response to the ongoing energy crisis, aimed at easing financial pressure on households. (PNA)