State-owned Government Service Insurance System (GSIS) announced that it would extend its emergency loan program to members and pensioners affected by Typhoon "Enteng."
According to the state pension fund, the loan would provide financial relief for areas declared under the state of calamity. The program is extended to individuals affected by the Southwest Monsoon (Habagat) and Typhoon Carina from October to November.
The application deadlines vary by area. For Baco and Pinamalayan in Oriental Mindoro, the deadline is Oct. 26. In Batangas, Rizal, and the National Capital Region (NCR), applications are due by Oct. 25.
Deadlines for Bulacan and Pampanga are Oct. 29, Camiling in Tarlac on Oct. 31, San Andres in Romblon, and Mabitac in Laguna on Nov. 1.
Applications are due by Nov. 5 in Ilocos Norte and La Union, while they are due by Nov. 13 in Ilocos Sur. Lastly, the deadline for Manatarem in Pangasinan is Nov. 21.
GSIS stated that active members must reside or work in a calamity-stricken area in order to apply for the loan. They must not be on unpaid leave and have no administrative or legal cases, as well as due and demandable loans pending.
Additionally, applicants must have paid at least six months of premium and their net take-home pay should not be below P5,000, as per the General Appropriations Act (GAA). The elderly and disability pensioners should have their net monthly pension at least 25 percent after being deducted from their loan amortization.
The state pension fund also said in a statement that those with an existing emergency loan can borrow up to P40,000 to settle their previous loans given at a maximum net amount of P20,000. Meanwhile, those without existing loans can apply up to P20,000.
The emergency loan has an annual interest rate of 6 percent which has a three-year repayment period. Members can apply via the GSIS Touch mobile app, GSIS Wireless Automated Processing System (GWAPS) kiosks in its branches, major government offices like the Department of Education (DepEd), provincial capitols, city and/or municipal halls, and select Robinson’s and SM Mall branches.