GSIS offers emergency loans to 80K in Luzon hit by storms Samuel, Usman

The Government Service Insurance System (GSIS) is now offering emergency loans to some 80,000 active members and old-age pensioners in select areas in Luzon affected by tropical depressions Samuel and Usman.

"The [GSIS] is offering emergency loan to its 82,056 active members and old-age pensioners who were affected by tropical depressions Samuel and Usman in 13 Luzon areas," it said in an emailed statement.

According to the GSIS, a total of 38,326 active members in the calamity areas who have no existing emergency loans may apply for a P20,000 loan.

Meanwhile, another 30,196 members who have not yet fully paid their emergency loan may apply for a loan worth P40,000, from which the outstanding balance will be deducted.

To avail of the loans, members must be working or residing in the said areas; are not on leave of absence without pay; and have no arrears in paying the monthly contributions.

They must also have no unpaid loans for more than six months, and should have a minimum net take-home pay of P5,000 after monthly premium contributions and loan amortizations have been deducted.

Those interested may apply through the GSIS Wireless Automated Processing System (GWPAS) kiosks located in all GSIS branches and extension offices; provincial capitols; city halls; and selected municipal offices.

They may also submit applications through kiosks located in government agencies such as the Department of Education (DepEd); Robinsons Malls; and select SM City branches such as North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig, SM Southmall in Las Piñas, and Mall of Asia.

Meanwhile, a total of 13,537 old-age pensioners in the calamity areas are also qualified to apply for a P20,000 loan, provided they file their application over the counter.

"Pensioners who are also active members may apply for the loan only once," the GSIS said.

The loan is payable in 36 equal monthly installments at the rate of 6 percent per annum, and is covered by a loan redemption insurance which deems the loan fully paid in case of the borrower's demise provided that the repayment is up to date. — Jon Viktor D. Cabuenas/BM, GMA News