GSIS opens emergency loan applications in “Ruby-,” “Seniang”-hit areas
State-run pension fund Government Service Insurance Service (GSIS) announced on Friday that it is offering emergency loan assistance to 101,065 members in a number of areas in the Visayas and Mindanao that were along the paths of typhoons “Ruby” and “Seniang” late last year.
In a statement, GSIS said the enhanced emergency loan window will be available to those living or working in the Visayan provinces of Aklan, Biliran and Cebu, which had been placed under a state of calamity due to the two typhoons.
The loan is also being offered to members in other “Seniang”-hit areas, such as the provinces of Agusan del Sur and Bohol, as well as Butuan City, the municipalities of Jabonga and Las Nieves in Agusan del Norte, and Monkayo town in Compostela Valley.
First-time borrowers can borrow P20,000, while members who have existing loans could avail of up to P40,000.
The required payment of 12 monthly amortizations before loan renewal has been waived, GSIS said.
Qualified to avail of emergency loans are active members who have no unpaid loans, no arrears in paying the mandatory monthly premium contributions, and are not on a leave of absence without pay.
This emergency loan shall be slapped with a 6-percent interest per annum, payable in 36 monthly installments.
It will be also covered by a loan redemption insurance, under which the immediate family would not have to pay the remaining balance when the member dies as the loan shall be deemed as fully paid.
The deadlines for emergency loan application are as follows: Feb. 20 in Aklan, Biliran and Cebu; Mar. 4 in Bohol; and Mar. 5 in Agusan del Norte, Agusan del Sur and Compostela Valley.
Interested members and pensioners are enjoined to apply through Wireless Automated Processing System kiosks in GSIS offices, provincial capitols, city and municipal halls, government agencies such as the Department of Education, as well as selected Robinsons malls.
The loan proceeds will be electronically credited to the borrower’s eCard or Unified Multi-Purpose ID.
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