The Government Service Insurance System (GSIS) has earmarked Php1.1 billion in emergency loan for its 42,141 members and 12,128 pensioners in Iloilo who were affected by typhoon Ursula.
With a loanable amount of Php20,000, the loan is payable in 36 equal monthly instalments at 6% interest rate computed in advance. It is covered by a loan redemption insurance which deems the loan fully paid in case of the borrower’s demise, provided that loan payment is up to date.
To qualify, active members must be working or residing in Iloilo; have updated premium payments within the last six months prior to application; have no unpaid loans for more than six months; not be on leave of absence without pay; have no pending administrative case or criminal charge; and have a minimum net take-home pay of Php5,000 after monthly premium contributions and loan amortizations have been deducted.
Members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosk or over the counter in any GSIS office. GWAPS kiosks are located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig, SM Southmall in Las Piñas, and Mall of Asia in Pasay City.
Old-age and disability pensioners living in the area may apply for emergency loan if the resulting net monthly pension after loan availment is at least 25% of their basic monthly pension. They have to apply for the loan over the counter.
The deadline for application is March 5, 2020.
Loan proceeds are electronically credited to the borrower’s GSIS electronic card (eCard) or unified multipurpose identification (UMID) card.
Loan renewal before the full payment of a previous emergency loan shall be allowed only if the current emergency loan account is up to date. The outstanding emergency loan balance of the previous loan, including the penalties, if any, shall be deducted from the proceeds of the new loan.
Interested parties who have inquiries may visit the GSIS website, www.gsis.gov.ph, or Facebook account, @gsis.ph; email firstname.lastname@example.org; or call the GSIS Contact Center at 8847-4747 if in Metro Manila or 1-800-8-847-4747 (for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ’N Text subscribers).