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GSIS helps quake victims in Leyte via emergency loan

Date Posted: August 4, 2017
To assist victims of the magnitude 7 earthquake in Leyte, the Government Service Insurance System (GSIS) opened its emergency loan to its members and pensioners in Ormoc City and municipality of Kananga in the province.

A total of Php120.64 million has been earmarked for the program.

Members are qualified to apply if they are residing or working in the two areas, not on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months.

A total of 2,756 members who are first-time emergency loan availers may borrow Php20,000, while 1,130 members with existing emergency loans may apply for Php40,000, from which their outstanding balance will be deducted.

They may apply for the loan 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.

A total of 1,016 old-age pensioners residing in the areas may apply for Php20,000 over the counter. Old-age pensioners who are also active members may avail of the loan only once.

The deadline for loan application in Ormoc City and Kananga is August 15 and 17, respectively.

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

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, which deems the loan fully paid in case of the borrower’s demise, provided that loan repayment is up to date.

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