In light of the pertussis outbreak in Sta. Rosa City, Laguna, the Government Service Insurance System (GSIS) has set aside P178 million for emergency loans to assist members and pensioners directly affected by the situation.
In a statement, the pension fund for government workers said the emergency loan program will be accessible until May 24, 2024 to provide financial relief to those impacted by the health crisis.
The loan facility is open to 6,918 active GSIS members living or working in Sta. Rosa, as well as old-age and disability pensioners residing in the affected areas who meet the specified criteria.
Borrowers with existing emergency loans can avail themselves of up to P40,000 to settle previous loan balances, ensuring a maximum net amount of P20,000. Those without any outstanding emergency loans are eligible to apply for a P20,000 loan.
This emergency loan carries a six percent interest rate and must be repaid over a three-year term.
Qualified individuals can apply for the loan through the GSIS Touch mobile app at their convenience.
To be eligible, members must have paid their premiums within the last six months, be actively working without any unpaid leave, have no ongoing administrative or criminal cases, and demonstrate a net monthly take-home pay of at least P5,000 after all deductions.
Pensioners are also eligible for the loan if the resulting net basic monthly pension after obtaining the loan amounts to at least 25 percent of their total pension.