The Government Service Insurance System has expanded its emergency loan assistance to nearly Php 8 billion, covering 317,721 members and pensioners in 16 areas affected by recent typhoons and the southwest monsoon.
The GSIS said Friday the assistance covers areas affected by Typhoons Luis, Maymay and Neneng, as well as the enhanced southwest monsoon, where flooding and other damage prompted local governments to declare states of calamity.
Qualified members and pensioners may borrow Php 20,000, while those with an existing emergency loan may avail of up to Php 40,000, less any outstanding balance from their previous loan.
Application deadlines vary by area, ranging from Sept. 20 to Nov. 16. Hagonoy, Bulacan and Masinloc, Zambales have the earliest deadline, while borrowers in Cavite and Rodriguez, Rizal may apply until Nov. 12 and Nov. 16, respectively.
The loan carries a 6-percent interest rate computed in advance and is payable over 36 months.
Monthly amortization is Php 655.56 for a Php 20,000 loan and Php 1,311.11 for a Php 40,000 loan.
Applications may be filed through the GSIS Touch mobile app, with proceeds credited directly to the borrower’s accredited eCard or UMID card.
