PASAY CITY — The Government Service Insurance System (GSIS) has announced its allocation of nearly P158 million in emergency loan for its 5,777 active members and pensioners residing or working in four calamity-hit areas in Mindanao and Laguna.
The state pension fund noted 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.
Also, Famy in Laguna was declared under a state of calamity after being struck by Severe Tropical Storm Enteng, it added.
According to the GSIS, 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% per annum and a payment period of three years.
To qualify for the emergency loan, active members must 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.
Old-age and disability pensioners must have a net monthly pension of at least 25% after deducting the loan amortization to be eligible for the loan.
The application deadline in the Mindanao areas is on 15 October 2024, while in Famy, Laguna, on 15 December 2024.
Eligible members may apply online for the loan through the GSIS Touch mobile app.
For more information about the emergency loan and application procedures, members are encouraged to visit the GSIS website at www.gsis.gov.ph, follow the GSIS Facebook page (@gsis.ph), email [email protected], or call the GSIS Contact Center at 8847 4747 (Metro Manila) or 1-800-8-847-4747 (Globe and TM subscribers) or 1-800-10-847-4747 (Smart, Sun, and TNT subscribers). (GSIS)
