Amid rising dengue cases in Eastern Visayas, the Government Service Insurance System (GSIS) has announced an emergency loan program worth P1.5 billion.
The GSIS said in a statement on Friday, Sept. 20, that financial assistance is available to 34,739 members and pensioners residing in Samar, Leyte, Ormoc City, Maasin City, and Kananga.
GSIS said the loan is intended to provide immediate relief for unexpected medical expenses, loss of income due to illness, and other related costs arising from the dengue outbreak.
This allocation is in addition to the P27 billion previously earmarked for members and pensioners affected by the Southwest Monsoon, Typhoons “Carina” and “Enteng,” and African swine fever.
Emergency loan applicants with a loan balance may borrow up to P40,000 to pay their previous credit with a maximum net amount of P20,000. On the other hand, those without existing balances may get up to a P20,000 loan.
GSIS said that the loans would have a six percent interest rate per annum and will have a three-year repayment period.
The state pension fund also stated that those who want to apply for the loan must reside or work in the calamity-declared area, must not be on leave without pay, have no pending administrative or legal cases, no due and demandable loan, and must have at least six months worth of premium.
Additionally, an applicant must not have less than P5,000 worth of net take-home pay as per the General Appropriations Act while old-age and disability pensioners must have 25 percent remaining from their pension after being deducted from their loan amortization.
Members and pensioners may apply the loan via the GSIS Touch mobile app, GSIS Wireless Automated Processing System (GWAPS) kiosks in nationwide branches, major government offices like the Department of Education (DepEd), provincial capitols, city halls, municipal offices, and select Robinson’s and SM malls.