Date Posted: October 14, 2015
Government Service Insurance System is offering emergency loans to 28,035 members and 5,019 old-age pensioners in Benguet, Kalinga, and Abra, which were recently hit by typhoon Ineng.
GSIS allotted over P584 million for emergency loan in Benguet and Kalinga, and more than P197 million in Abra.
Active members working or residing in the affected provinces are eligible to borrow if they are not on leave of absence without pay, have no arrears in paying premium contributions, and have no loans in default.
First-time borrowers may apply for a Php20,000 emergency loan. Those with existing emergency loan may borrow Php40,000, from which their loan balance will be deducted.
The loan is payable in three years or 36 equal monthly installments at 6 percent interest per annum. It is covered by a loan redemption insurance, which deems the loan fully paid in case of death of the borrower, provided that the loan repayment is up to date.
The deadline for application is October 31, 2015 for Benguet and Kalinga, and November 1, 2015 for Abra.
Active members may apply for the loan through the GSIS Wireless Automated Processing System (GWAPS) kiosks in any of GSIS’s 42 branch offices, 14 extension offices, and 58 service desks; provincial capitols; city halls; municipal offices; large government agencies such as the Department of Education; 27 Robinsons Malls; and SM Super Malls in Manila, Pampanga, and Cebu.
Old-age pensioners are required to apply in person to avail of the Php20,000 pension emergency loan. If they are also active members, they may borrow only once.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.
Interested applicants who have further inquiries may call the GSIS Contact Center at 847-4747.