PASAY CITY-- The Government Service Insurance System (GSIS) set aside a total of P30.9 million in emergency loan for its active members and old-age pensioners in Valencia, Negros Oriental; Buadiposo-Buntong, Lanao del Sur; and Manukan, Zamboanga del Norte.
The deadline for application is April 13 for Buadiposo-Buntong and Manukan, and April 14 for Valencia.
A total of 1,040 active members who are working or residing in the calamity-declared areas and 277 old-age pensioners are expected to benefit from the program.
Qualified are active members who are not on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months.
First-time borrowers may apply for a P20,000 emergency loan. Those with existing emergency loan may borrow P40,000, from which their outstanding balance will be deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branch and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, and SM Aura in Taguig City.
Old-age pensioners residing in the three areas may avail of the Php20,000 emergency loan by personally applying at any GSIS branch office. Pensioners who have become active members anew after reentering government service may apply for the loan only once.
The loan is payable in 36 equal monthly instalments at six percent interest rate per annum. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrowers' demise, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower's GSIS eCard or unified multipurpose identification (UMID) card.
For more information, visit the GSIS website, www.gsis.gov.ph; call the GSIS Contact Center at 847-4747; or email email@example.com.
Source: Philippines Information Agency