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Manila Bulletin devider Business devider GSIS emergency loan available for Agusan del Sur flood victims

GSIS emergency loan available for Agusan del Sur flood victims

Published Feb 26, 2024 08:53 am

Due to the recent flooding in Agusan del Sur, the state-run Government Service Insurance System (GSIS) has allotted nearly half a billion pesos for the province’s emergency loan which may be availed by active members affected by the calamity.

The P499 million worth of assistance was opened due to the president’s directive to provide aid to the victims of the massive flooding last month. Because of this, an emergency loan can be applied until March 15.

About 17,079 members and 2,300 old-age pensioners living or working within the calamity-struck areas may borrow P20,000 to P40,000, depending on the terms.

According to GSIS, the borrowers must have paid their premiums within the last six months prior to applying for the loan, and they must also not be on leave of absence without pay.

Additionally, loan applicants should have zero criminal or administrative cases, and must have an overall net take-home pay of around P5,000 when all the monthly obligations have been deducted.

Meanwhile, old-age and disability pensioners living in calamity-stricken places like Agusan del Sur, are allowed to inquire for a loan given that their resulting net monthly pension is at least 25 percent of their basic monthly pension after availing of the program.

Pensioners are required to not have any outstanding loan deducted from their monthly pension unless it is their pension loan.

The emergency loan is payable by three years, with a six percent interest rate.

“Members with existing emergency loans may borrow up to P40,000 to settle previous loan balances, ensuring a maximum net amount of P20,000,” the state pension fund said.

“Those without any outstanding emergency loan, including pensioners may apply for a P20,000 loan,” it added.

Those who wish to inquire of the program may do so using the GSIS Touch mobile application, GSIS Wireless Automated Processing System (GWAPS) kiosks, or in the nearest available GSIS office.

Related Tags

Wick Veloso Emergency loan GSIS Agusan del Sur Flooding
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