Date Posted: May 8, 2015
The Government Service Insurance System (GSIS) is granting emergency loan to active members working or residing in Zamboanga City and old-age pensioners in the city up to May 27.
The Sangguniang Panlungsod of Zamboanga declared the area under a state of calamity due to the dry spell or the El Niño phenomenon.
The GSIS has allotted P512 million in funds for emergency loan for over 14,000 active members and almost 3,000 old-age pensioners in the city.
Active members who have no existing emergency loans may borrow P20,000, while those who have emergency loan balance may apply for P40,000. The loanable amount for pensioners is P20,000.
Members are qualified to apply if they are not on leave of absence without pay , have no arrears in paying their mandatory premium contributions, and have no loans in default.
Old-age pensioners must file their application over the counter to safeguard their identity. Old-age pensioners who are also active members may avail of the loan only once.
The loan carries an interest rate of 6 percent per annum and is payable in 36 monthly installments. It is covered by a loan redemption insurance, with which the loan is deemed fully paid in case of the borrower’s death.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks in all GSIS branch offices, provincial capitols, city halls, selected municipal offices, large government agencies such as the Department of Education, and selected Robinsons Malls. Their authorized agency officers (AAOs) must approve first and electronically transmit to GSIS their application for processing and crediting.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.
GSIS members may call the GSIS contact center at 847-4747 for other details.