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GSIS allots P740M in emergency loans for Romblon, Masbate

Date Posted: January 15, 2016
Government Service Insurance System (GSIS) active members and old-age pensioners in the provinces of Romblon and Masbate may now avail of emergency loan until February 6 and 7, respectively.

GSIS earmarked P740 million to assist a total of 20,477 active members and 3,811 pensioners in both provinces that were struck by typhoon Nona.

Earlier, the GSIS set aside P1.6 billion in emergency loans to members and pensioners in Albay, Mindoro, and Sorsogon that were similarly affected by Nona.

Active members who have no emergency loan balance may apply for a P20,000 loan, while those with existing emergency loans may borrow up to P40,000, from which the outstanding balance of their previous emergency loan will be deducted.

Pensioners may avail of the P20,000 loan. Pensioners who are also active members may borrow only once.

Active members are qualified for the loan if they are working or residing in the calamity areas, not on leave of absence without pay, have no arrears in premium payment, and have no unpaid loan amortization for more than six months.

Active members may apply using their GSIS eCard or their unified multipurpose identification (UMID) card through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in GSIS offices, provincial capitols, city halls, select municipal offices, large government agencies such as the Department of Education, 27 Robinsons Malls, and SM Super Malls in Manila, Pampanga, and Cebu.

Pensioners need to apply in person.

The loan is payable in 36 equal monthly instalments at 6 percent interest rate per annum, computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of demise of the borrower, provided that loan repayment is up to date.

For more information on the emergency loan program, members and pensioners may call the GSIS Contact Center at 847-47-47; visit its website at www.gsis.gov.ph; or email gsiscares@gsis.gov.ph.