GSIS offers emergency loans in six regions battered by Odette

The Government Service Insurance System (GSIS) on Friday announced that the pension fund was now offering an emergency loan to members and pensioners in six regions hit by Typhoon Odette.

In a statement, the GSIS said active members residing or working in Regions 4B (Mindoro, Marinduque, Romblon, Palawan or Mimaropa), 6 (Western Visayas), 7 (Central Visayas), 8 (Eastern Visayas), 10 (Northern Mindanao), and 13 (Caraga), as well as old-age and disability pensioners residing in these regions, may apply for the loan.

The pension fund said qualified loan borrowers with an existing emergency loan may borrow up to P40,000 to pay off their previous emergency loan balance and still receive a maximum net amount of P20,000.

Those without an existing emergency loan may apply for P20,000.

The GSIS said the emergency loan is payable in 36 equal monthly installments at a 6% interest rate computed in advance.

It is also covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that loan payment is up to date.

Qualified to apply are members who are in active service and not on leave of absence without pay; have no pending administrative or criminal case; and have a net take-home pay of not lower than P5,000 after all required monthly obligations have been deducted.

“Those that have due and demandable loan accounts (have arrears of over six months) are now allowed to renew their previous emergency loan from a different calamity,” said the GSIS.

The pension fund said that members with at least three months of paid premiums within the last six months before the application date may already apply.

Meanwhile, old-age and disability pensioners may apply for the loan if their resulting net monthly pension after loan availment is at least 25% of their basic monthly pension.

“Para sa kaligtasan ng aming loan borrowers, pwede nilang i-submit ang kanilang applications sa pamamagitan ng contactless methods: sa aming web-based system na electronic GSIS Member Online (eGSISMO); via email; o sa mga drop box na nasa lobbies ng GSIS offices,” said GSIS President and General Manager Rolando Macasaet.

(For the safety of our loan borrowers, they can submit their application using contactless methods: through our electronic web-based system GSIS Member Online (eGSISMO); via email; or at drop boxes at GSIS office lobbies.)

If borrowers opt to use email in applying, they must send the requirements to the email address of their branch office.

The complete list of GSIS email addresses may be found in https://www.gsis.gov.ph/contact-gsis/.

Active members also have the option to file their loan applications through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS offices, Department of Education offices, provincial capitols, city halls, municipal offices, Robinsons Malls, and selected SM Supermalls.

“However, we request understanding and patience since most offices have intermittent internet connection and electricity to facilitate the processing of applications. Rest assured that loan applications will be processed the soonest possible time,” said Macasaet.

Loan proceeds are directly credited to the borrower’s GSIS electronic card (eCard) or Unified Multi-Purpose Identification (UMID) card, the pension fund said. — DVM, GMA News