GSIS opens emergency loan facility

THE GOVERNMENT Service Insurance System (GSIS) has opened its emergency loan facility to four calamity-declared areas in Metro Manila and Luzon affected by heavy rains and flooding due to recent storms and the enhanced southwest monsoon.

“This emergency loan is one way we can quickly respond to the needs of our members and pensioners affected by the recent calamities,” GSIS Officer-in-Charge Juliet M. Bautista said in a statement on Thursday.

GSIS opened the emergency loan program in Cavite and Quezon City until Oct. 23, and in Umingan, Pangasinan and Calumpit, Bulacan until Aug. 23.

The state pension fund said the number of areas where the calamity loan is open could increase in the coming days as more local government units (LGUs) submit their official declarations.

“This will help ensure that more members and pensioners in similarly affected locations can access emergency financial assistance.”

“Qualified members with existing emergency loans may borrow up to P40,000, while first-time borrowers may avail up to P20,000. The loan is payable in three years, with a low 6% annual interest and no processing fee.”

“To qualify, active members must be working or residing in the declared calamity area, be in active service and not on unpaid leave, have no pending administrative or legal case, and have paid at least six monthly premiums. They must also have a net take-home pay of at least P5,000. Old-age and disability pensioners may also apply, provided their net monthly pension after loan amortization is at least 25% of their gross pension.”

Members and pensioners can apply through the GSIS Touch mobile app or through any GSIS Wireless Automated Processing System (GW@PS) kiosk located in branches, select government offices, or over the counter. — Aaron Michael C. Sy