Date Posted: October 11, 2013
Government Service Insurance System (GSIS) members affected by the armed conflict between the government and the Moro National Liberation Front in Zamboanga and Lamitan may now benefit from increased emergency loan credit limit and the waiver of the requirement to pay 12 monthly amortizations before loan renewal.
This was announced by GSIS President and General Manager Robert G. Vergara after the Board of Trustees approved the new policy on Thursday.
“Members who are residing or working in the cities of Zamboanga and Lamitan and who have a balance in their existing emergency loan may now borrow up to Php40,000 under the program. This will enable borrowers to take home a bigger loan amount even if they have to deduct the balance in their previous emergency loan from the renewal proceeds.”
He said that most of GSIS members in Zamboanga already availed themselves of the loan in December 2012 following the aftermath of typhoon Pablo. Thus, they did not qualify to avail of the program.
The increase in the credit limit coupled with the relaxed renewal requirement will entitle 9,493 GSIS members in Zamboanga and Lamitan to benefit from the revised emergency loan program.
The Php40,000 credit limit will be available to members in Zamboanga and Lamitan who have existing loan balance in their emergency loan. Members who have no outstanding balance in their previous emergency loan or will borrow for the first time under the program will be entitled to the regular loanable amount of Php20,000.
They may apply for the loan until November 10, 2013 in any GSIS branch office either through its file anywhere policy or through the GSIS Wireless Automated Processing System (GWAPS) kiosk using their GSIS eCard or their unified multipurpose identification (UMID)-compliant eCard.
Members can avail of the emergency 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.
In addition, GSIS is accepting applications for emergency loan from members recently affected by heavy rains in Maguindanao and Cotabato City (September 17 to October 16); Tupi, South Cotabato (September 23 to October 22); Santiago, Isabela (September 13 to October 14); Mandaluyong, Metro Manila (September 26 to October 27), province of Negros Occidental (October 8 to November 8), and Bayawan City as well as the municipalities of Sta. Catalina, Basay and Siaton in Negros Oriental (October 8 to November 8).
GSIS members may also avail of the Educational Assistance Loan which is open until December 27, 2013.
For more information on the loan programs of GSIS, members may visit the nearest GSIS branch office or call the GSIS hotline at (02) 847-4747.