Date Posted: January 13, 2015
The Government Service Insurance System (GSIS) is now granting emergency loan to active members and old-age pensioners in seven Luzon provinces that were hit hardest by typhoon Ruby last December.
A total of 113,435 active members working in 2,655 offices or residing in the calamity-declared areas of Albay, Batangas, Camarines Sur, Catanduanes, Marinduque, Masbate, and Romblon may avail of the enhanced emergency loan. The 28,028 old-age pensioners affected in said areas may likewise apply for the pensioner emergency loan.
To qualify for the enhanced emergency loan, members should not be on leave of absence without pay, have no arrears in paying mandatory monthly premium contributions, and have no loans in default.
Members with existing emergency loans may borrow up to P40,000. The payment of 12 monthly amortizations is no longer a requirement for the renewal of the loan.
First-time member-borrowers and old-age pensioners are entitled to P20,000 in loanable amount.
Emergency loan for both members and pensioners, which carries a 6 percent interest per annum, is payable in 36 monthly installments. It is covered by a loan redemption insurance, which means that in case of member’s or pensioner’s demise, the loan balance would be deemed paid.
Qualified members and pensioners may apply through the 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.
The deadline for application is January 19, 2015.
The loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.
GSIS members and pensioners may call the GSIS Contact Center at 847-4747 for other details.