Date Posted: August 10, 2015
The Government Service Insurance System (GSIS) has allotted over P341 million in emergency loan for active members and old-age pensioners in the El Nino-stricken province of Sultan Kudarat, City of Mati in Davao Oriental, and Sultan sa Barongis in Maguindanao.
Active members working or residing in the calamity areas may apply for a P20,000 loan, while those who have emergency loan balance may borrow up to P40,000. A total of 12,262 members are expected to benefit from the loan program.
Active members are eligible to apply if they are not on leave of absence without pay, have no arrears in paying premium contributions, and have no loans in default.
The loan is payable in 36 monthly installments and bears a 6 percent interest rate per annum.
The 1,665 old-age pensioners residing in the three calamity areas may apply for the P20,000 emergency loan over the counter in any GSIS office.
The pension emergency loan is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise.
Active members who are also old-age pensioners may borrow only once.
Members may apply for the loan until August 22, 2015 through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in GSIS offices, provincial capitols, city halls, selected municipal offices, large government agencies such as the Department of Education, and selected Robinsons Malls.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.
For inquiries, interested applicants may call the GSIS Contact Center at 847-4747.