GSIS opens COVID-19 emergency loan

Published April 16, 2020, 12:00 AM

by manilabulletin_admin

By Chino S. Leyco

State-run Government Service Insurance System (GSIS) said that its members and pensioners nationwide may now apply for the pension fund’s coronavirus disease (COVID-19) emergency loan program.

Rolando Ledesma Macasaet, GSIS president and general manager said members and pensioners may take out a ₱20,000 loan from their fund, which is payable in three years at six percent interest per annum.

Macasaet also said that the loan is covered by an insurance, which deems the loan fully paid in case of the borrower’s demise.

Under the new financing program, borrowers should apply online by sending an email containing a duly-accomplished emergency loan application form, and picture or scanned copy of GSIS electronic card or unified multi-purpose identification card.

The borrower is also required to attach a photo of the member or pensioner holding the filled-out application form, which can be downloaded from the GSIS website (https://www. gsis.gov.ph/downloadable-forms).

“This is the first time that GSIS is offering emergency loan on a national scale. Previously, emergency loan is offered by GSIS to declared calamity areas which are usually confined to a particular province or region,” Macasaet said.

 
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