The Government Service Insurance System has earmarked a total of P29.76 million in emergency loan for its 1,198 active members and old-age pensioners in Cardona, Rizal, who were affected by water lilies that obstructed their shores. The deadline for application is April 12.
Active members in the calamity area who have no existing emergency loans may apply for a P20,000 loan. The active members who have not yet fully paid their loan may borrow P40,000, from which the remaining balance will be deducted.
To qualify, active members must be working or residing in the said area, not be on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months. They should also have a minimum net take-home pay of P5,000 after the monthly premium contribution and loan amortization have been deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosk located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig, and Mall of Asia in Pasay City.
To avail of the loan, old-age pensioners living in the area may apply over the counter. They are eligible for a P20,000 loan amount. Pensioners who are also active members may apply for the loan only once.
Emergency loan is payable in 36 equal monthly instalments at six percent interest rate per annum. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s GSIS electronic card (eCard) or unified multipurpose identification (UMID) card.
visit the GSIS website, www.gsis.gov.ph, or Facebook account, @gsis.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 847-4747 or 1-800-8-847-4747 (for Globe [free with minimum Php8.00 load] and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ’N Text subscribers; Php8.00/call).