Typhoon Nina victims may now apply for GSIS emergency loans
MANILA — Active members and pensioners of state-run pension fund Government Service Insurance System in seven Southern Luzon provinces, who were affected by the onslaught of typhoon “Nina” last December may apply for emergency loans until February.
In a statement Tuesday, the GSIS said it set aside P4.9 billion in loans for old-age pensioners as well as members living or working in Albay, Batangas, Camarines Sur, Catanduanes, Marinduque, Quezon province and six local government units in Oriental Mindoro.
“A total of 7,952 active members and 820 old-age pensioners in Calapan City and municipalities of Naujan, Baco, San Teodoro, Pola and Puerto Galera in Oriental Mindoro may avail of the loan until Feb. 17,” the GSIS said.
“The 73,798 active members working or residing as well as the 12,305 old-age pensioners residing in Batangas, Marinduque and Quezon may apply for the loan until Feb. 9,” the GSIS added.
“The application deadline for the 62,339 active members and 11,115 old-age pensioners in Albay, Camarines Sur and Catanduanes is Feb. 2,” according to the GSIS.
Members who have no existing emergency loans may borrow P20,000, while those who have existing loans but have been up to date with their payments may apply for P40,000.
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 pensioners, those who remain active members after reentering government service could avail of the emergency loan only once.
The loanable amount for old-age pensioners is P20,000.
The loan shall be slapped with a 6-percent interest per annum computed in advance, 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 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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