More than 463,000 government employees have received over PHP27 billion in loans under the Government Service Insurance System’s (GSIS) Ginhawa Go Program, reflecting strong demand for affordable financing designed to steer public workers away from informal lenders.

In a news release on Wednesday, GSIS said it had released PHP27.29 billion in microloans to 463,608 active members from Oct. 24, 2024 to July 28, 2026 through the program, formerly known as Ginhawa Lite before it was relaunched as Ginhawa Go in February this year.

“Ginhawa Go answers a basic need for our members: quick, dignified access to credit that will not push them toward informal lenders,” GSIS President and General Manager Wick Veloso said.

He added that the volume of loans released under the program shows it is addressing a long-standing financing gap among government employees.

Finance Secretary Frederick Go, who led the relaunch of Ginhawa Go on Feb. 19, described the initiative as a safeguard against abusive lending practices.

“This program protects employees from abusive lending processes,” Go said.

The Ginhawa Go Program allows qualified GSIS members to borrow PHP1,000 to PHP50,000 at a six-percent interest rate, with repayment terms of 30 days to 24 months depending on the loan amount.

Applications are made through the GSIS Touch mobile app, with approved proceeds credited directly to members’ accounts.

The facility also includes loan redemption insurance that settles any outstanding balance in the event of the borrower’s death, protecting beneficiaries from financial liability. (PNA)