The Government Service Insurance System (GSIS) is offering a loan program to help members install solar panels and reduce their monthly electricity bills.
Called the Ginhawa Solar Energy Loan (GSEL), the program allows qualified members to borrow up to P500,000 at 5 percent annual interest, payable over five years. Monthly payments can reach up to P10,416.67, and the loan includes three years of free insurance for the solar panels.
As of April 21, GSIS said it has received more than P5.7 billion in loan applications, showing strong interest from members looking for ways to manage rising household expenses.
The program supports the push of President Ferdinand Marcos Jr. to expand the use of renewable energy at the household level by making solar installations more affordable.
One borrower, Judith Rabacal from Northern Negros State College in Bacolod, said she has already installed solar panels and expects to see lower electricity bills soon.
GSIS president and general manager Wick Veloso said the program helps members take control of their power costs while also promoting cleaner energy.
Applications are accepted through the GSIS Touch mobile app.
The program has a total budget of P12.5 billion, including P60 million for insurance coverage.
To qualify, applicants must be active GSIS members with at least three years of government service, at least six months of contributions, and no defaulted GSIS loans, except housing loans.
