The Government Service Insurance System has introduced a new financing scheme to support affordable mobility, allowing members to purchase bicycles and electric transport devices amid rising fuel costs.
The Ginhawa Bike and E-Mobility Loan (GBEL) programme enables eligible members to borrow up to 100% of the vehicle cost, with a maximum loan amount of PHP 300,000. The loan is repayable over three years at an annual interest rate of five per cent, offering a relatively low-cost financing option.
The scheme covers a wide range of personal mobility solutions, including e-bikes, e-scooters, e-mopeds, cargo e-bikes and folding electric bicycles. It aims to provide commuters with cost-effective alternatives to traditional fuel-based transport, particularly as energy price volatility impacts daily travel expenses.