GSIS opens emergency loan to Mayon victims
Earmarks P1B budget
THE Government Service Insurance System (GSIS) announced that the GSIS emergency loan window is now open to GSIS members and pensioners affected by the eruption of Mayon Volcano in Albay. GSIS will accept applications for the loan until July 18, 2023.
“After Sanggunian Panlalawigan of Albay declared the entire province as a calamity area, we immediately opened the loan and set aside a P1 billion budget to assist 39,0000 GSIS members and pensioners in Albay who need our assistance,” GSIS President and General Manager Wick Veloso said.
According to Veloso, members who have existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000. Members and pensioners without existing emergency loan may apply for a P20,000 loan.
The loan has a low interest rate of 6% and three-year payment term. With a redemption insurance feature, the balance will be deemed fully paid in the event of the borrower’s death, as long as payments are updated.
Eligible to apply for the loan are active members residing or working in the calamity area, not on leave without pay, have no pending administrative or criminal case, andhave a net take-home pay of at least P5,000 after all mandatory monthly obligations have been deducted.
Old-age and disability pensioners residing in the province may also avail of the loan iftheir resulting net monthly pension after loan availment is at least 25% of their basic monthly pension.
GSIS members and pensioners are advised to conveniently apply for the loanthrough their mobile phone by using the GSIS Touch mobile application. GSIS Touch may be downloaded from the Google Play Store and Apple App Store. Members may also apply for the loan through the GSIS Wireless Automated Processing System (GWAPS) kiosks which are located in all GSIS offices, Robinson’s malls, SM supermalls and other government offices.
For further details, members and pensioners may visit the GSIS website (www.gsis.gov.ph) or Facebook page (@gsis.ph); email [email protected]; or call the GSIS Contact Center at 8847-4747 (if in Metro Manila) or 1-800-8-847-4747(for Globe and TM subscribers) or 1-800-10-847-4747 (for Smart, Sun, and Talk ‘N Text subscribers).
