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GSIS extends emergency loan to Nina-hit members, pensioners in Masbate

Date Posted: March 1, 2017
The Government Service Insurance System (GSIS) is extending a total of Php28 million in emergency loan to its active members and old-age pensioners in San Pascual, Masbate who were affected by typhoon Nina until March 19, 2017.

A total of 965 active members, who are residing or working in the calamity-declared area; are not on leave of absence without pay; have no arrears in paying premium contributions; and have no unpaid loans for more than six months, may avail of the loan.

First-time borrowers may apply for a Php20,000 emergency loan. Those with existing emergency loan may avail of Php40,000, from which their outstanding balance will be deducted.

Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, and SM Aura in Taguig.

Forty-two old-age pensioners who are residing in San Pascual, Masbate are qualified for the Php20,000 emergency loan. They must apply personally at any GSIS branch office. Pensioners who are also active members (after having reentered government service) may apply for the loan only once.

The loan is payable in 36 monthly amortizations with an interest rate of six percent per annum computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided the loan repayment is up to date.

Loan proceeds are electronically credited to the borrower’s GSIS electronic card (eCard) or Unified Multipurpose Identification (UMID) card.

For inquiries, members and pensioners may call the GSIS Contact Center at 847-4747; email gsiscares@gsis.gov.ph; or visit the GSIS website, www.gsis.gov.ph.