The Government Service Insurance System (GSIS) has opened the
emergency loan program to assist active members and pensioners in typhoon
Nona-hit municipalities of Lubang and Abra de Ilog in Occidental Mindoro, and
those affected by El Niño in the City of Zamboanga.
GSIS has earmarked P24.3 million for 881 active members and
pensioners in Lubang and Abra de Ilog. It has similarly appropriated
almost P488 million for 17,212
active members and pensioners in Zamboanga City.
The deadline for emergency loan application in Lubang and Abra de
Ilog is March 4, 2016, while that for Zamboanga City is March 5, 2016.
Qualified to apply are active members who are residing or working in the
said calamity-declared areas, not on leave of absence without pay, have no arrears
in paying premium contributions, and have no loans that are unpaid for more
than six months.
Active members applying for the first time may avail of a P20,000
loan, while those with existing emergency loan may borrow up to P40,000, from
which their outstanding balance will be deducted.
Pensioners
need to apply in person to avail of the P20,000 pensioners’ emergency
loan. Pensioners who are also active members may apply for the loan only
once.
Emergency loan is payable in 36 equal monthly instalments at 6 percent
interest rate per annum computed in advance. It is covered by a loan
redemption insurance, which deems the loan fully paid in case of demise of the
borrower, provided that loan repayment is up to date.
Active members may apply through the GSIS Wireless Automated Processing
System (GWAPS) kiosks located in all GSIS branch and extension offices;
provincial capitols; city halls; selected municipal offices; large government
agencies such as the Department of Education; selected Robinsons Malls; and SM
Super Malls in Manila, Pampanga, and Cebu.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or
unified multipurpose identification (UMID) card.
