The Government Service Insurance System (GSIS) said it is allocating nearly P158 million in emergency loan for 5,777 active members and pensioners residing or working in four calamity-hit areas.
It said that in Mindanao, the towns of Pikit and Kabacan in Cotabato were hit by Typhoons Butchoy and Carina, while Kabasalan, Zamboanga Sibugay was flooded due to heavy rainfall.
Famy, Laguna was declared in a state of calamity after being struck by Severe Tropical Storm Enteng.
Members and pensioners with existing emergency loan balances may borrow up to P40,000 to enable them to pay their previous loans and receive a maximum net amount of P20,000.
Those without existing emergency loans may apply for P20,000. The loan features a low interest rate of 6 percent per annum and a payment period of three years.
To qualify for the emergency loan, active members should not be on unpaid leave, have no pending administrative or legal cases, have no due and demandable loan, and have made at least six monthly premium payments before applying.
Their net take-home pay should not be less than P5,000 as stipulated by the General Appropriations Act.
To be eligible for the loan, old-age and disability pensioners should have a net monthly pension of at least 25 percent after deducting the loan amortization.
The application deadline in the Mindanao areas is on Oct. 15, 2024, while in Famy, Laguna is on Dec. 15, 2024.
Eligible members may apply online for the loan through the GSIS Touch mobile app.
