The Government Service Insurance System has opened a P2-billion emergency loan facility for its active members and old-age pensioners in Surigao del Norte, which was recently hit by a 6.7-magnitude earthquake.
On Tuesday, GSIS said the facility would also be available in nine other areas in Mindanao affected by other calamities. The deadline for filing of loan applications is on March 21.
Seven of the Mindanao areas—Davao del Norte; Davao Oriental; Compostela Valley; Oroquieta City, Misamis Occidental; Katipunan, Zamboanga del Norte; Ditsa-an Ramain, Lanao del Sur; and Pagalungan, Maguindanao—experienced heavy rains and floods in January.
Lopez Jaena in Misamis Occidental suffered landslides owing to heavy rains, and Bubong, Lanao del Sur encountered low water supply that damaged crops there.
“A total of 52,680 active members who are residing or working in the calamity-declared areas, not on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months, may avail of the loan,” the agency said.
Members availing of the loan for the first time may apply for a P20,000 emergency loan. Those with loan balances may borrow P40,000, from which their outstanding balance will be deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks 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, and SM Aura in Taguig.
Around 7,000 old-age pensioners, who are qualified for the P20,000 emergency loan, must apply personally at any GSIS branch office. Pensioners who are also active members (after having reentered government service) may apply for the loan only once.
“The loan is payable in 36 equal monthly instalments at six percent interest rate per annum computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrowers’ demise, provided the loan repayment is up to date,” GSIS said.
