GSIS opens emergency loan window for storm-hit areas in Luzon

MANILA, July 25 ------ The Government Service Insurance System (GSIS) opened its emergency loan for members and pensioners in four calamity-hit areas following the onslaught of the former Severe Tropical Storm Crising (international name Wipha) and the enhanced southwest monsoon (habagat).

GSIS officer-in-charge Juliet Bautista said the loan is now available to qualified members and pensioners 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 said in a statement.

The loan application period runs until Aug. 23 for those in Umingan and Calumpit, and until Oct. 23 for those in Cavite and Quezon City. GSIS said it expects more areas to be added in the coming days as other local government units (LGUs) submit their official declarations of calamity.

Qualified active members who have an existing emergency loan may borrow up to PHP40,000, while first-time borrowers may avail of up to PHP20,000. The loan is payable in three years with a 6-percent annual interest rate and no processing fee. To qualify, active members must be in active 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 PHP5,000.

Old-age and disability pensioners may also apply, provided that their net monthly pension after loan deductions is at least 25 percent of their gross pension. The state pension fund encouraged 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.

Source: pna.gov.ph