The Government Service Insurance System has earmarked P36.94 million in emergency loans for its 1,228 active members who were affected by drought in Santa Cruz, Marinduque.
The loan application deadline is February 9, 2019.
A total of 609 active members in the calamity areas who have no existing emergency loan may apply for a P20,000 loan. A total of 619 members who have not yet fully paid their emergency loans may apply for an amount of P40,000, from which the outstanding balance will be deducted.
Qualified borrowers are active members who are working or residing in the said areas, are 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 monthly premium contributions and loan amortizations have been deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosk located in all GSIS branch 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 in North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig, SM Southmall in Las Piñas, and Mall of Asia in Pasay City.
The emergency loan is payable in 36 equal monthly instalments at the rate of six percent interest per annum. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that loan repayment is up to date.
Loan proceeds are electronically credited to the borrower’s GSIS electronic card (eCard) or unified multipurpose identification (UMID) card.
Interested parties who have inquiries may visit the GSIS website, www.gsis.gov.ph, or Facebook account, @gsis.ph; email gsiscares@gsis.gov.ph; or call the GSIS Contact Center at 847-4747 if in Metro Manila or 1-800-8-847-4747 (for Globe [free with minimum P8.00 load] and TM subscribers) or 1-800-10-847-4747 [for Smart, Sun, and Talk ’N Text subscribers; P8.00/call]).
This story was first published on Manilastandard.net