Date Posted: September 30, 2013
The Government Service Insurance System (GSIS) announced the opening of emergency loan (EL) window to more than 14,000 GSIS members working or residing in the cities of Lamitan and Zamboanga, which were declared under a state of calamity due to the present crisis.
GSIS members may apply for the loan from 28 September 2013 until 27 October 2013 in any GSIS branch office or through the GSIS Wireless Automated Processing System (GWAPS) kiosk using their GSIS eCard or their unified multipurpose identification (UMID)-compliant eCard.
Eligible members may borrow up to Php20,000, payable in 36 equal monthly instalments at six percent interest rate. Renewal of loan may be made upon payment of at least 12 monthly amortizations but not earlier than the anniversary date of the previous loan.
Members can avail of the loan if they are not on leave of absence without pay; have no arrears in the payment of mandatory monthly contributions; and have no loans that are declared in default.
The GSIS has allocated a budget of Php101,040,000.00 for the Emergency Loan program in Lamitan and Zamboanga cities.
For more information on the program, members may visit the nearest GSIS branch office or call the GSIS hotline at 02-8474747.