P10-B GSIS emergency loan

TO HELP its members in areas devastated by floods and those in areas placed in a state of calamity, the Government Service Insurance System (GSIS) has made available a P10-billion emergency loan fund.

Robert G. Vergara, GSIS president and general manager, said in a statement that qualified members could borrow P20,000 each, payable in 36 months.

Vergara said that the interest rate was reduced to 6 percent yearly from the regular rate of 8 percent, and that the GSIS was waiving the 1-percent service fee. Ronnel W. Domingo