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Manila Bulletin devider Business devider GSIS offers emergency loan to 'Odette' victims

GSIS offers emergency loan to 'Odette' victims

Published Jan 14, 2022 04:37 pm

State-owned Government Service Insurance System (GSIS) is granting emergency loan to members and pensioners in six regions in the country that bore the brunt of Typhoon Odette.

In a statement, Rolando Ledesma Macasaet, GSIS president and general manager said Friday, Jan. 14, that active members residing or working, as well as old-age and disability pensioners residing in these regions may apply for the loan.

To recall, President Duterte declared Regions 4B (Mindoro, Marinduque, Romblon, Palawan or Mimaropa), 6 (Western Visayas), 7 (Central Visayas), 8 (Eastern Visayas), 10 (Northern Mindanao), and 13 (Caraga) under a state of calamity last December.

GSIS said qualified loan borrowers with existing emergency loan may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Those without existing emergency loan may apply for P20,000.

The loan is payable in 36 equal monthly installments at six percent interest rate computed in advance. It is also 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.

Qualified to apply are members who are in active service and not on leave of absence without pay; have no pending administrative or criminal case; and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

Those that have due and demandable loan accounts, or have arrears of over six months, are also allowed to renew their previous emergency loan from a different calamity.

Moreover, members with at least three months of paid premiums within the last six months prior to application date may also apply.

Meanwhile, old-age and disability pensioners may apply for the loan if their resulting net monthly pension after loan availment is at least 25 percent of their basic monthly pension.

“For safety of our borrowers, they may submit their applications through contactless methods: web-based system GSIS Member Online (eGSISMO); via email; or drop box in GSIS offices,” Macasaet said.

If borrowers would opt to use email in filing the application, they must send the requirements to the email address of their handling branch office.

Active members also have the option to file their loan applications through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS offices, Department of Education offices, provincial capitols, city halls, municipal offices, Robinsons Malls and selected SM Supermalls.

“However, we request understanding and patience since most offices have intermittent internet connection and electricity to facilitate the processing of applications. Rest assured that loan applications will be processed the soonest possible time,” Macasaet said.

Loan proceeds are directly credited to the borrower’s GSIS electronic card (eCard) or Unified Multi- Purpose Identification (UMID) card.

Related Tags

Rolando Ledesma Macasaet Government Service Insurance System Emergency loan GSIS President and General manager GSIS Typhoon Odette
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