GSIS opens 20K emergency loan for flood-hit govt workers in Glan, Sarangani
Date Posted: 2012-07-04 14:42:22
“The Government Service Insurance System (GSIS) approved the grant of a Php20,000 emergency loan for GSIS members in the Municipality of Glan, Sarangani Province who were affected by flashfloods in the area last June 12,” Robert G Vergara, GSIS President and General Manager said today.
According to Vergara, GSIS members in Glan, Sarangani may apply for the loan from June 25 to July 24, 2012.
“We hope to assist nearly 1,000 government employees residing and working in Glan, Sarangani by making available Php18.7 million to fund the loan window,” Vergara said.
Vergara pointed out that the GSIS Board further enhanced the features of the program to make it more responsive to the needs of members particularly during difficult times.
“The GSIS Board reduced the interest rate for the loan from eight percent to six percent, removed the service fee and extended the payment of the first monthly amortization to three months,” Vergara explained.
Eligible members who may file for emergency loan include bona fide employees of the agency located in the Municipality of Glan, Sarangani or are residents of this area; in active service and not on leave of absence without pay; have no pending criminal or administrative charges; have no arrears in the payment of mandatory social insurance contributions; and have no loan that has been declared in default.
Members of agencies who are currently suspended because of non-remittance of premium and loan payments are ineligible to apply for the emergency loan.
For any question on the emergency loan program, members may visit the GSIS website at www.gsis.gov.ph or call (083) 3016213 or (083)3049455.