GSIS offers loans in dengue calamity zones | Inquirer News
P633 MILLION ALLOTTED

GSIS offers loans in dengue calamity zones

/ 05:36 AM September 05, 2019

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.

ADVERTISEMENT

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

FEATURED STORIES

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

News handpicked by our editors

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: dengue calamity zones, dengue epidemic, emergency loans, GSIS
For feedback, complaints, or inquiries, contact us.

News that matters

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.



© Copyright 1997-2023 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.