THE Government Service Insurance System (GSIS) launched a loan program covering bicycles or electric mobility devices to help government workers reduce daily transportation costs.
The Ginhawa Bike and E-Mobility Loan (GBEL) allows qualified members to borrow up to 100% of the cost of the unit or a maximum of P300,000, payable over 36 months at 5% per annum, the state pension fund said in a press release on Monday.
“This program will give our members a practical option to manage their daily transportation expenses. We want our members to be able to move through their communities without that financial weight,” GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said.
The GBEL covers financing for brand-new bicycles and electric mobility devices such as e-bikes, e-scooters, e-mopeds, cargo e-bikes, folding e-bikes, and other similar electric-powered transport units.
The loan facility was launched in line with the government’s Unified Package for Livelihood, Industry, Food, and Transport framework aimed at addressing the impact of the Middle East conflict on Filipinos.
The state pension fund is accepting applications online through the GSIS Touch mobile application. — Aaron Michael C. Sy
