GSIS allots P428M in loans for ASF-affected members in Oriental Mindoro

The Government Service Insurance System (GSIS) announced on Friday that its emergency loan window is now open for its members and pensioners who have been affected by the African swine fever (ASF) in Oriental Mindoro.

In a news release, the pension fund said it has earmarked P428 million for the financial assistance.

GSIS said members with existing emergency loans are eligible to borrow up to P40,000 to settle previous loan balances, with a maximum net amount of P20,000.

Those without any outstanding emergency loans, including pensioners, may apply for a P20,000 loan.

The deadline for filing applications is March 20, 2024.

Qualified for the loan are GSIS members who are residents or employed in the calamity areas, according to the pension fund.

GSIS said they must have no leave of absence without pay, no pending administrative or criminal case, and must receive a net take-home pay of at least P5,000 after deducting required monthly obligations.

Also qualified to borrow from the loan facility are old-age and disability pensioners residing in the calamity areas whose resulting net monthly pension after loan availment would be at least 25% of their basic monthly pension.

GSIS said they must also have no outstanding loan deducted from their monthly pension except a pension loan.

The pension fund said its emergency loan has a 6% interest rate and a three-year payment term.

“Members may apply for the loan anytime, anywhere, via the GSIS Touch mobile app,” GSIS said.

“They may also file their application through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branches, major government offices such as the Department of Education, provincial capitols, city halls, municipal offices, and selected Robinson’s and SM malls,” it added. —VBL, GMA Integrated News