Date Posted: June 15, 2015
Active members of the Government Service Insurance System (GSIS) working or residing in Davao del Sur, Davao Occidental, and seven municipalities in Cotabato, including old-age pensioners, may apply for emergency loan until July 4.
GSIS has alloted P446 million for 14,037 active members in 169 agencies and 2,122 old-age pensioners in drought-stricken Davao provinces, as well as in the municipalities of Alamada, Aleosan, Antipas, Arakan, Banisilan, Libungan, and Pigcawayan in Cotabato.
First-time borrowers may apply for a P20,000 loan, while those with existing emergency loan may apply for P40,000.
Members are qualified to apply if they are not be on leave of absence without pay, have no arrears in paying their mandatory premium contributions, and have no loans in default.
The loan has a 6 percent interest rate per annum and is payable in 36 monthly installments.
Active members may apply through GSIS Wireless Automated Processing System (GWAPS) kiosks located in GSIS offices, provincial capitols, city halls, selected municipal offices, large government agencies such as the Department of Education, and selected Robinsons Malls.
Old-age pensioners must apply over the counter in GSIS offices to avail of the P20,000 loan. It is covered by a loan redemption insurance, which deems the loan fully paid in case of demise.
If an active member is also an old-age pensioner, the applicant may borrow only once.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.
For inquiries, interested applicants may call the GSIS Contact Center at 847-4747.