GSIS loan collection via Bayad Centers reaches P65-M

December 24, 2021, 4:06 pm

<p>Bayad Center <em>(File photo)</em></p>

Bayad Center (File photo)

MANILA – State pension fund Government Service Insurance System (GSIS) has collected over PHP65 million in loan payments made through Bayad Centers following the accreditation of more branches of the collection partner.

GSIS’s partnership with Bayad, which started in April this year, provides members a secure and convenient alternative to paying their loans and supports the pension fund’s goal to improve its loan collection efficiency.

“Initially, there were only 1,689 active Bayad outlets. As of September 2021, there are 2,836 Bayad collection sites across the country that are accepting payments for GSIS loans,” GSIS president and general manager Rolando Macasaet said in a statement on Friday.

Bayad accepts payments for enhanced salary loan, emergency loan assistance, summer one-month salary loan, eCard cash advance, enhanced consolidated loan, emergency loan, home emergency loan, Study Now, Pay Later loan, Fly PAL, Pay Later loan, educational assistance loan, stock purchase loan, regular policy loan, optional policy loan, GSIS financial assistance loan, restructuring and repayment of debts, multipurpose loan, computer Loan, and other upcoming GSIS loans.

Borrowers may pay their loans in advance; those that are underpaid, delayed or unpaid; or those in default or unpaid for over six months.

Members only need to present text message notifications received from GSIS or loan balances displayed through the electronic GSIS Member Online (eGSISMO) or GSIS Touch mobile application.

Subsequently, they need to fill out a Bayad form for their full name, business partner number, loan type, among others.

Loan borrowers who pay through any of Bayad’s payment collection sites will receive a text message to confirm receipt payment.

They may also check their loan payment records via eGSISMO or GSIS Touch.

GSIS will likewise 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 may visit the GSIS website or Facebook page; send an email 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). (PR)