Date Posted: December 27, 2013
Government Service Insurance System (GSIS) President and General Manager Robert G. Vergara today announced that the pension fund will offer a Home Emergency Loan Program (HELP), a one-time special loan of up to Php200,000 to rebuild the homes of members who are either living or working in the 126 areas that were hardest hit by Yolanda.
Under HELP, members may apply for a loan based on their total length of service in the government. Members who have been in the government for 10 years or more may borrow a maximum amount of Php200,000 while those who have been in the service for five years or more but less than 10 years, may take out up to Php100,000.
In addition, those who have been in the service for less than five years may obtain a maximum loan of Php30,000.
Vergara said that HELP is in response to the President’s instruction to all government agencies to extend the necessary financial support that will enable Yolanda victims to rebuild their homes and resume productive livelihood and employment activities.
GSIS will accept applications starting January until March 2014 in any of its 56 branch and extension offices nationwide. An approval from the members’ agency authorized officer (AAO) will be required by the pension fund before processing the loan.
The loan will bear an interest of 6% and is payable in 10 years. The first monthly amortization of the loan will be in July 2014.
The program may be availed only once and is not subject to renewal.
HELP is the latest GSIS program geared at assisting Yolanda victims. The other programs include the grant of a six-month loan moratorium for members and pensioners living or working in worst-hit areas; an enhanced emergency loan with higher credit limit of Php40,000 for members with outstanding emergency loan balance; and for the first time, a pensioners’ emergency loan of Php20,000.
For more inquiries on HELP, members may call the contact center at 847.4747.