GSIS offers loans in dengue calamity zones
MANILA, Philippines — The Government Service Insurance System (GSIS) has offered emergency loans to active members and pensioners from Samar province, the towns of Pontevedra and Sigma in Capiz province, and the town of Sofronio Española in Palawan province — places where a state of calamity has been declared due to a dengue outbreak.
In a statement, the pension fund for government employees said it had allocated almost P633 million for loans in these areas. Those qualified in Pontevedra, Sigma and Sofronio Española may file applications until Sept. 22.
Members with no existing emergency loans and pensioners may apply for a P20,000 loan. Those who have not yet fully paid their emergency loans may apply for a P40,000 loan, from which the outstanding balance will be deducted.
Who can apply
Qualified to apply are members who are working or residing in the calamity-declared areas, not on leave of absence without pay, have no arrears in paying monthly mandatory life insurance or social insurance premium contributions, and have no unpaid loans for more than six months.
They should also have a minimum net take-home pay of P5,000 after the monthly premium contributions and loan amortization have been deducted.
Active members may apply through the GSIS wireless automated processing system kiosks in all GSIS branches 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—North Edsa, Manila, Pampanga, Cebu, SM Aura in Taguig, SM Southmall in Las Piñas and Mall of Asia in Pasay City.
Old-age pensioners must file their applications over the counter to safeguard their identity. If they are also active members, they may apply for the loan only once.
Emergency loans are payable in 36 equal monthly installments at a 6-percent interest rate. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s death, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s GSIS electronic card or unified multipurpose identification card. —Daxim L. Lucas
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