More than P631 million are available for emergency loans to Government Service Insurance System 22,778 members and 2,187 old-age pensioners hit by Typhoon “Ferdie” in Batanes, Pampanga and Bataan.
In a statement, the GSIS said active members working or residing in San Fernando City and the municipality of Sto. Tomas in Pampanga, as well as old-age pensioners may apply for the loan facility until today, October 8.
The deadline for loan application in Batanes; in the municipalities of Guagua, San Simon, Macabebe and Minalin in Pampanga; and in Hermosa, Bataan is October 21, the agency said.
Members who are not on leave of absence without pay, who have no arrears in premium contributions who have no unpaid loans for more than six months are qualified borrowers.
Members who have no existing emergency loan balances may apply for a P20,000 loan, while those with existing loans may avail of up to P40,000.
Active members may apply through any GSIS Wireless Automated Processing System kiosk in all GSIS branches and extension offices, provincial capitols, city halls, selected municipal offices, large government agencies such as the Department of Education, Robinsons Malls, and SM City branches in North Edsa, Manila, Pampanga, Cebu and SM Aura in Taguig.
Pensioners must apply in person at any GSIS office to avail of the loan. Those who have re-entered government service may avail of the loan only once.
The emergency loan is payable in 36 monthly installments and carries a six-percent yearly interest rate computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided the loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s electronic card (eCard) or Unified Multipurpose Identification card.
For inquiries, visit the GSIS website, www.gsis.gov.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 847-4747.