The Government Service Insurance System (GSIS) has launched an emergency loan program for members and pensioners in four areas affected by Severe Tropical Storm Crising (international name Wipha) and the enhanced southwest monsoon (habagat).
GSIS officer-in-charge Juliet Bautista announced that the loan is available to qualified individuals in Cavite, Quezon City, Umingan in Pangasinan, and Calumpit in Bulacan. “This emergency loan is one way we can quickly respond to the needs of our members and pensioners affected by the recent calamities,” Bautista stated.
The loan application period is open until August 23 for residents of Umingan and Calumpit, and until October 23 for those in Cavite and Quezon City. GSIS anticipates adding more areas as local government units (LGUs) submit their official declarations of calamity.
Qualified active members with an existing emergency loan may borrow up to PHP 40,000, while first-time borrowers can avail of up to PHP 20,000. The loan is payable over three years with a 6-percent annual interest rate and no processing fee.
To qualify, active members must be in service, working or residing in the declared calamity area, not on unpaid leave, have no pending administrative or legal cases, have paid at least six monthly premiums, and maintain a minimum net take-home pay of PHP 5,000. Old-age and disability pensioners may also apply, provided their net monthly pension after loan deductions is at least 25 percent of their gross pension.
The state pension fund encourages members and pensioners to use the GSIS Touch mobile app for faster transactions. Those not yet registered in the app may apply through any GSIS Wireless Automated Processing System kiosk, at GSIS branches, select government offices, or over the counter.
