GSIS Unveils Affordable e-bike Financing To Fight High Transport Expenses
E-BIKE – With transportation costs soaring, GSIS is offering members a chance to switch to an e-bike through a new loan program.
The Government Service Insurance System (GSIS) has introduced a new loan initiative designed to help its members cope with the rising cost of transportation, which has been largely driven by global oil price increases linked to tensions in the Middle East.
Under the program, known as the Ginhawa Bike and E-Mobility Loan (GBEL), qualified GSIS members can now finance the purchase of bicycles and electric-powered mobility devices. The initiative is designed to provide an affordable and sustainable alternative to traditional fuel-dependent transportation, especially as commuting expenses continue to rise.
Through the GBEL program, members may borrow up to the full cost of their chosen unit, with a maximum loan ceiling of P300,000. The loan comes with a repayment term of up to three years and carries an annual interest rate of 5 percent. This structure aims to make the program accessible while ensuring manageable payment terms for borrowers.
GSIS President Wick Veloso emphasized that the initiative is meant to ease the financial burden of daily travel for members. He explained that by providing access to cost-efficient transport options, GSIS hopes to support its members in maintaining mobility without being heavily affected by fluctuating fuel prices.
“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 said.
The loan facility covers a wide selection of mobility options. Eligible purchases include standard bicycles as well as various types of electric vehicles such as e-bikes, e-scooters, e-mopeds, folding e-bikes, and even cargo e-bikes. These alternatives not only help reduce transportation expenses but also promote environmentally friendly commuting solutions.
With this move, GSIS is positioning itself to address both economic and environmental concerns. By encouraging the use of electric and non-motorized transport, the agency is helping members adapt to current challenges while also contributing to a more sustainable mode of daily travel.
READ ALSO: LTO Summons Pickup Driver Who Challenged E-Bike Rider to Fist Fight
