TO help government employees cope with rising travel expenses driven by the oil crisis sparked by the conflict in the Middle East, the Government Service Insurance System (GSIS) has introduced a new lending facility specifically for the purchase of bicycles and electric mobility devices.
Dubbed the Ginhawa Bike and E-Mobility Loan (GBEL), the program aims to provide members with an affordable means of acquiring alternative transportation, offering accessible financing terms amid persistent increases in fuel prices and transport fares across the country.
Qualified members can borrow up to 100 percent of the unit’s purchase price, with a maximum loanable amount set at ₱300,000. The loan comes with favorable repayment conditions, featuring a low annual interest rate of just 5 percent and a flexible payment term of up to three years. These terms are designed to make it easier for public sector workers to acquire their preferred mode of transport without putting too much strain on their monthly household budget.
According to GSIS President Wick Veloso, the initiative responds directly to the financial pressures currently faced by members due to the volatile energy market.
“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,” Veloso stated in an official release. Beyond cost savings, the program also supports sustainable mobility and healthier lifestyles by encouraging the use of eco-friendly transport solutions.
The loan facility covers a wide range of vehicles, catering to different needs and preferences. Eligible units include standard bicycles, e-bikes, e-scooters, e-mopeds, cargo e-bikes, folding e-bikes, and other similar electric-powered transport devices. By expanding financing options to cover these alternatives, GSIS hopes to empower its members to choose transport modes that are not only budget-friendly but also suited to their daily travel routes and requirements.
