Date Posted: January 29, 2015
The Government Service Insurance System (GSIS) is now granting emergency loan to active members hit by typhoon Ruby and Seniang in Misamis Oriental and Dinagat Islands in Mindanao.
More than 27,000 members working or residing in the two provinces 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.
Interested members may apply through the GSIS Wireless Automated System (GWAPS) kiosks located in GSIS branch offices, provincial capitols, city halls, selected municipal offices, and large government agencies such as the Department of Education, and selected Robinsons Malls.
Loan proceeds are electronically credited to members’ GSIS eCard or unified multipurpose identification (UMID) card.
The deadline for application is February 26, 2015.
For more details on the emergency loan, members may call the GSIS Contact Center at 847-4747.