The Government Service Insurance System (GSIS) allocated P1.7 billion in emergency loans to provide assistance to its members and pensioners affected by rabies and El Niño in 13 areas nationwide.
More than 77,000 affected members and old-age and disability pensioners are expected to benefit from the program.
Members and pensioners with an existing emergency loan balance may borrow up to P40,000 to clear their previous loan and receive a maximum net amount of P20,000. Those without an existing loan may apply for up to P20,000. The loan features a low interest rate of 6-percent per annum with a repayment period of three years.
Qualified applicants include members who are residing or working in Buenavista, Marinduque, where rising rabies cases have been reported, and several locations affected by El Niño, including Catbalogan City in Western Samar, Cordova, Naga City and Toledo City in Cebu, Iloilo City, Buenavista in Guimaras, Bayawan City and Sta. Catalina in Negros Oriental, Antique, Basilan and Datu Piang and Sultan sa Barongis in Maguindanao Del Sur.
GSIS said to be eligible for the emergency loan, active members should not be on unpaid leave, have no pending administrative or legal cases and should have made at least six monthly premium payments prior to application.
Their net take-home pay should not be less than P5,000 as required by the General Appropriations Act. Meanwhile, old-age and disability pensioners should have a net monthly pension that is at least 25 percent of their gross pension.
