The Government Service Insurance System (GSIS) said Thursday it disbursed over P1.5 billion in emergency loans, providing financial relief to government workers and pensioners affected by Tropical Storms Crising, Dante, Emong and other recent calamities across the country.
It said the loans benefited more than 44,000 active members and pensioners who applied for assistance.
“As soon as the loan window opened, thousands of our members and pensioners turned to GSIS for help. This reflects how deeply the recent calamities have affected their lives and how urgently they need support,” said GSIS officer-in-charge Juliet Bautista.
The program offers a one-time loan of up to P40,000 for active members and P20,000 for pensioners. It carries a 6-percent interest rate per annum, computed in advance, and is payable in 36 equal monthly installments.
The loan is also covered by Loan Redemption Insurance, meaning the loan will be considered fully paid in the event of the borrower’s untimely death, provided repayments are up to date.
“We want our members to know they are not alone in recovering from the impact of recent storms. GSIS is here to extend support where it matters most,” Bautista said.
The emergency loan is available to GSIS members whose residence or place of work is in a declared calamity area. Pensioners living in these areas may also avail of the loan. Loan availment periods vary depending on the date of the declaration and the submission of documentary requirements by the concerned local government units.
