Manila:The Government Service Insurance System (GSIS) is offering emergency loans to qualified members and pensioners in five areas affected by calamities in the Bicol and Calabarzon regions. This initiative follows outbreaks of dengue and the impacts of El Niño.

According to Philippines News Agency, the state pension fund has announced financial assistance for government workers and pensioners in Albay and Naga City, where the surge in dengue cases and related deaths have led to calamity declarations. Camarines Norte is also included due to drought conditions.

A total of PHP1.69 billion has been allocated for 68,506 active members and pensioners in these three areas. Qualified borrowers in Albay, Camarines Norte, and Naga City have until October 24, 27, and 28, respectively, to apply via the GSIS Touch mobile app.

The GSIS is also extending emergency loans in other affected areas, with application deadlines on November 12 for Cavite and November 16 for Rodriguez, Rizal. Members without existing emergency loans may borrow up to PHP20,000, while those with prior balances can apply for PHP40,000, with net proceeds of up to PHP20,000 after settling previous loans.

These loans bear a 6-percent interest rate, payable over three years, with monthly payments of PHP655.56 for PHP20,000, and PHP1,311.11 for PHP40,000. The program includes redemption insurance to cover outstanding balances upon the borrower's death, provided loan payments are current.

Eligible active members must reside or work in the affected areas, have paid the necessary premium contributions, maintain a net take-home pay of at least PHP5,000, and have no disqualifying overdue loans or pending administrative or criminal cases. Old-age and disability pensioners may also apply if their remaining monthly pension after loan deductions is at least 25 percent of their basic pension.