The Government Service Insurance System (GSIS) allotted close to P272 million worth of emergency loans for members and pensioners affected by massive flooding brought by heavy rains in Davao de Oro province in April.
GSIS is accepting applications until July 5, based on a statement released on Tuesday, June 21.
A total of 12,325 active members and 1,257 old-age and disability pensioners are expected to benefit from the loan.
GSIS said that interested loan applicants must be active members either working or residing in the calamity-declared area. Also, they must not be on leave of absence without pay, have no pending administrative case or criminal charge, have at least three monthly premium payments within the last six months before application, and have a net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted.
Members who have emergency loans that have been unpaid for six months or less (in arrears) or more than six months (already due and demandable) are allowed to apply for an emergency loan renewal.
Meanwhile, old-age and disability pensioners are qualified for the loan as long as they reside in the calamity area and their net monthly pension after loan availment is at least 25 percent of their basic monthly pension.
Pensioners who are also active members can only apply for the loan once.
According to GSIS, those who qualify for the loan but have an existing emergency loan may borrow up to P40,000 to pay their balance and they shall be entitled to receive a maximum net amount of P20,000. Those who do not have an existing emergency loan shall receive P20,000.
The emergency loan is payable in 36 equal monthly installments with a six percent interest rate.
It also has a "loan redemption insurance" which marks the loan fully paid in case of the borrower's death provided the payment for the loan is updated.
The loan application may be filed through the GSIS Touch mobile application, Electronic GSIS Member Online via http://egsismo.gsis.gov.ph facility, email addressed to the GSIS handling office, drop boxes located in lobbies of GSIS offices, over-the-counter at any GSIS office, or GSIS Wireless Automated Processing System (GWAPS) kiosk.
Take note that when applying in GWAPS, borrowers may apply using their Unified Multi-Purpose ID card through the GWAPS kiosks located in all GSIS branch and extension offices and large government agencies such as the Department of Education, provincial capitols, city halls, municipal offices, Robinsons Malls, and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig and Mall of Asia in Pasay City.
For more information, interested applicants may visit the GSIS website, Facebook page, or email [email protected], [email protected], or [email protected]. (Luisa Cabato)