GSIS funds emergency loans for calamity-hit members, pensioners
MANILA – The Government Service Insurance System (GSIS) has set aside nearly PHP1.5 billion in emergency loan funds for 62,514 active members and pensioners affected by recent calamities.
GSIS members and pensioners can apply for the emergency loan without documentary requirements through the GSIS Touch mobile app, available on Google Play and the Apple App Store.
The areas include Negros Oriental, Biliran, Nueva Ecija, Surigao del Norte, and Puerto Princesa.
“In Negros Oriental, which was affected by the eruption of Mt. Kanlaon, and in Biliran, where the deterioration of Biliran Bridge disrupted connectivity to Leyte, the deadline is on March 12. Applications from Carranglan and Licab in Nueva Ecija, which bore the brunt of Typhoon Kristine, will be accepted until March 13,” GSIS said in a news release Friday.
“Residents of Siargao and Bucas Grande Islands in Surigao del Norte, where prolonged brownouts have caused major disruptions, may apply until March 18. Puerto Princesa City in Palawan, which experienced torrential rains, has a deadline of March 19, while applications from Aborlan and Iwahig Penal Colony in Puerto Princesa, also affected by heavy rains, will be accepted until March 23,” it said.
To qualify for the emergency loan, GSIS reminds that active members must live or work in a declared calamity area, have no due and demandable GSIS loan, not be on unpaid leave, have paid at least six months’ worth of premiums before applying, have no pending administrative or criminal cases, and maintain a net monthly take-home pay of at least PHP5,000 after deductions.
Members with an existing emergency loan may borrow up to PHP40,000, with a maximum net amount of PHP20,000 after settling their outstanding balance. Those without an existing emergency loan may apply for PHP20,000.
Old-age and disability pensioners in calamity-declared areas may avail of a PHP20,000 loan, provided their net basic monthly pension remains at least 25 percent after deductions. Loan proceeds will be automatically credited to their eCard or UMID card.
The loan has a 6 percent interest rate, no service fee, and a three-year repayment term. It also includes redemption insurance, which guarantees full settlement of the outstanding balance in case of the borrower’s death, provided payments are current.
