GSIS eases COVID-19 emergency loan requirements, raises credit limit up to P40k

Home Media Center GSIS eases COVID-19 emergency loan requirements, raises credit limit up to P40k
Date Posted: May 2, 2020

State pension fund Government Service Insurance System (GSIS) has relaxed the terms of its emergency loan program to allow more members and pensioners to benefit from the credit window.

“First, we raised the limit of the emergency loan to Php40,000 to benefit our members and pensioners who have just borrowed from the program and barely paid the amortizations, such as the victims of the Taal Volcano eruption in January this year. For those who have no prior emergency loan, the loanable amount is Php20,000,” GSIS President and General Manager Rolando Ledesma Macasaet said.

Previously, borrowers were not allowed to renew their loan if their payment was not up-to-date and their balance was bigger than the loanable amount. With the enhanced terms, they may borrow up to Php40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of Php20,000,” Macasaet explained.

“Second, we waived the six months loan amortization requirement to serve the needs of members who have due and demandable loan accounts,” he continued.

“Before, members were not qualified for the emergency loan if they had GSIS loan accounts that have not been paid for more than six months and are thus considered to be due and demandable,” Macasaet said.

“And third, we reduced the eligibility period for premium payments for both government and personal share to three months within the last six months before the application date, to qualify for the emergency loan,” he added.

Previously, active GSIS members must have updated premium payments within the last six (6) months prior to application to qualify for the loan.

“We are not considering the period of the Enhanced Community Quarantine from March to May 2020 in checking the premium eligibility of the member under the enhanced terms of the emergency loan. So, the new requirement is for the borrower to have just at least three premium payments between the period September 2019 to February 2020,” Macasaet explained.

Macasaet stressed, however, that loan applications of members will still be subject to the approval of the agency authorized officer (AAO) of the government agencies where members work. Members must satisfy only three requirements under the enhanced terms of the emergency loan. They must (1) be in active service and not on leave of absence without pay; (2) have no pending administrative case and/or criminal charge; (3) have a net take-home pay of not lower than Php5,000 after all required monthly obligations have been deducted.

The emergency loan is payable in three years with an interest of only 6% per annum. The relaxed eligibility requirements and increased loanable amount will be implemented for the duration of the crisis due to the COVID-19 pandemic.

Beginning May 4, 2020 (Monday), GSIS members and pensioners may submit their emergency loan applications online via the GSIS website ( The application form may be downloaded from

Pensioners may only apply for the loan online. Members may also apply for the loan through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branches, DepEd offices, provincial capitols, city halls, Robinson’s Malls and selected SM Supermalls.

Once the loan is approved, the proceeds will be directly credited to the Unified Multi-Purpose ID (UMID) card or temporary eCard account of the borrower.

Old-age and disability pensioners are qualified to apply for the loan if their resulting net monthly take-home pension after loan availment is at least 25% of their basic monthly pension.

Members and pensioners who have inquiries on the loan program may visit the GSIS website,, or official GSIS Facebook page,; send an email to; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747 (for Globe and TM subscribers) and 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).