Nation

GSIS earmarks P19M in emergency loan to members

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The Government Service Insurance System (GSIS) allotted close to P 19 million in emergency loan for its active members and old-age pensioners affected by typhoon Onyok in Caraga, Davao Oriental.

The 129 active members who have no existing emergency loan may borrow P20,000, while the 391 active members who still have a loan balance are eligible to a P40,000 loan, from which the outstanding balance of their previous emergency loan  will be deducted.

Qualified to apply are active members working or residing in Caraga who are not on leave of absence without pay, are updated in premium contributions, and have no unpaid loan amortizations in the last six months.  Also eligible to apply for the loan are old-age pensioners who are residing in the calamity areas .

The deadline for application is April 7.

Active members may apply through any GSIS Wireless Automated Processing System (GWAPS) kiosk located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; 27 Robinsons Malls; and SM City branches in North Edsa, Manila, Pampanga, Cebu, and SM Aura in Taguig.

Old-age pensioners may apply in person for a P20,000 pension emergency loan.  Pensioners who are also active members (retired government workers who have been reemployed) may apply for the loan only once.

The loan is payable in 36 equal monthly instalments with an interest rate of 6 percent per annum 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.

For inquiries, members and pensioners may call the GSIS Contact Center at 847-4747; email gsiscares@gsis.gov.ph; or visit the GSIS website www.gsis.gov.ph. (JCA)

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