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GSIS offers emergency loan in Vismin areas hit by Ruby, Seniang

Date Posted: February 13, 2015
The Government Service Insurance System (GSIS) opened an enhanced emergency loan window to active members in various areas in Visayas and Mindanao that were hit by typhoons Ruby and Seniang.

Three provinces in Visayas, namely, Cebu, Aklan, and Biliran, were declared under state of calamity in the aftermath of typhoons Ruby and Seniang. Other areas affected by Seniang include Bohol; Agusan del Sur; Butuan City and municipalities of Jabonga and Las Nieves in Agusan Del Norte; and Monkayo, Compostela Valley.

A total of 101,065 members working or residing in the calamity-declared localities may apply for the loan. Those who will avail of the loan program for the first time may borrow P20,000.00. Members with existing emergency loan may apply for a renewal, with a loan ceiling of P40,000.00. Payment of 12 monthly amortizations on the existing emergency loan is no longer a requirement for loan renewal.

Qualified to apply are members who are not on leave of absence, have no arrears in paying their mandatory monthly premium contributions, and have no loans in default.

Carrying a 6 percent interest rate per annum, the loan is payable in 36 monthly instalments. It is covered by a loan redemption insurance, which means that in case of a member’s demise, the loan will be deemed fully paid.

The deadline for filing of application in Cebu, Aklan, and Biliran is February 20; in Bohol, March 4; and in Agusan del Sur, Agusan del Norte, and Compostela Valley, March 5.

Members may apply through the GSIS Wireless Automated Processing System (GW@PS) kiosks in all GSIS servicing offices, provincial capitols, city halls, selected municipal offices, large government agencies such as the Department of Education, and selected Robinsons Malls. The processing of loan applications is subject to the approval of the Authorized Agency Officers (AAOs).

Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID)card.

GSIS members may call the GSIS contact center at 847-4747 for other details.