GSIS allots P2.2 billion in emergency loans for 'Nina' victims | Inquirer News

GSIS allots P2.2 billion in emergency loans for ‘Nina’ victims

By: - Reporter / @bendeveraINQ
/ 05:56 PM January 04, 2017

Residents in the Catanduanes capital of Virac queue at a water refilling station after Typhoon “Nina” damaged pipelines and water sources, cutting supply in the town. — INQUIRER FILE PHOTO / FERNAN GIANAN

MANILA — Active members as well as pensioners of state-run pension fund Government Service Insurance System in Albay, Camarines Sur and Catanduanes who were affected by the onslaught of typhoon “Nina” during the holidays may apply for emergency loans until Feb. 2.

In a statement Wednesday, the GSIS said it had set aside P2.2 billion in loans for the 11,115 old-age pensioners as well as 62,339 members living or working in the three provinces in Bicol Region.


According to the GSIS, active members who have no existing emergency loans may borrow P20,000, while those who have no emergency loan balance may apply for P40,000.

The loanable amount for pensioners is P20,000.


Qualified to avail of emergency loans are active members who have no unpaid loans for over six months, no arrears in paying the mandatory monthly premium contributions, and are not on a leave of absence without pay.

As for old-age pensioners, the GSIS enjoins them to file their respective applications over the counter at the branch offices nearest to them in order to safeguard their identities.

But pensioners who have remained active members after reentering government service could avail of the emergency loan only once, the GSIS said.

This loan shall be slapped with a 6-percent interest per annum computed in advance, payable in 36 monthly instalments.

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 as long as the loan repayment is up to date, according to the GSIS.

Interested members and pensioners are enjoined to apply through GSIS Wireless Automated Processing System (GWAPS) kiosks in GSIS branches, provincial capitols, city and municipal halls, government agencies such as the Department of Education, as well as select Robinsons malls and SM City branches (Aura in Taguig City, Cebu, Manila, North Edsa in Quezon City, and Pampanga).

The loan proceeds will be electronically credited to the borrower’s GSIS electronic card (eCard) or Unified Multi-Purpose ID (UMID) card. SFM

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TAGS: Albay, Calamity, Camarines Sur, Catanduanes, emergency loans, Government Service Insurance System, Nock-Ten, rebuilding, Reconstruction, recovery, Rehabilitation, relief, rescue, Restoration, State of Calamity, Typhoon, Typhoon Nina, Weather
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