GSIS earmarks Php564-M in emergency loan for 9 Mindanao areas
- Saturday, July 23, 2016
- (PNA), PGL/TPGJR/PR
ZAMBOANGA CITY, July 23 (PNA) -- The Government Service Insurance System (GSIS) has set aside Php563.6 million in emergency loan for its active members and old-age pensioners in nine more areas in Mindanao that were affected by El Niño.
Eligible to apply for the loan until July 31 are qualified members and pensioners in Iligan City in Lanao del Norte, Claveria in Misamis Oriental, Tudela and Bonifacio in Misamis Occidental, Kabasalan and Alicia in Zamboanga Sibugay and Guipos and Kumalarang in Zamboanga del Sur.
Those in El Salvador City in Misamis Oriental may avail of the loan until August 9.
A total of 17,597 active members are eligible to apply if they are working or residing in the calamity-declared areas, are not on leave of absence without pay, and have no arrears in paying premium contributions in the last six months.
First-time borrowers may apply for a Php20,000 emergency loan. Those who have an existing emergency loan are entitled to Php40,000, from which their outstanding loan balance will be deducted.
A total of 2,731 old-age pensioners residing in the said areas may borrow Php20,000. If they are also active members for having been reemployed in the government service, they may borrow only once.
The loan is payable in 36 equal monthly installments at six percent interest rate per annum computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower's demise, provided that loan repayment is up to date.
Active members may apply through any GSIS Wireless Automated Processing System (GWAPS) kiosk 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.
Active old-age pensioners must personally submit to the GSIS a fully accomplished emergency loan application form to apply for the loan.
Loan proceeds are electronically credited to the borrowers' GSIS electronic card (ecard) or Unified Multipurpose Identification (UMID) card.
For more information, call the GSIS Contact Center at 847-4747; visit the GSIS website, www.gsis.gov.ph; or email firstname.lastname@example.org.