State-run Government Service Insurance System (GSIS) announced financial assistance to members and pensioners affected by Typhoon Kristine through its emergency loan program.
It opened the program in Albay and Naga City and will also activate it in areas declared under a state-of calamity.
GSIS said it is monitoring other areas in the Bicol Region, CALABARZON, MIMAROPA, Central Visayas, Negros Island Region, Eastern Visayas and Mindanao for state-of-calamity declarations.
Once an area is declared under a state of calamity, GSIS will immediately make the loan available to qualified members and pensioners, it said.
GSIS president and general-manager Wick Veloso urged GSIS members and pensioners to use the GSIS Touch in applying for loans for safe and quick transactions.
He said the app offers a secure, seamless, fast and more efficient way to apply for loans, keep track of premium remittances, loan and insurance payments, access membership and pension records and enables them to manage their accounts through their mobile phones.
Members without an existing emergency loan can borrow up to P20,000, while those with existing balances can apply for up to P40,000. The loan has an interest rate of 6 percent per annum, payable in three years.
GSIS said to qualify for the emergency loan, members should be actively employed, not on leave without pay, no pending administrative or legal cases, with payment of at least six months premiums and with a net take-home pay of at least P5,000.
Pensioners should have a remaining net pension of at least 25 percent of their pension after loan amortization to qualify, it said.
