GSIS earmarks P1.7B for emergency loans of members in 13 areas affected by El Niño, rabies

The Government Service Insurance System (GSIS) said Tuesday it has allocated P1.7 billion in emergency loans to provide assistance to its members and pensioners affected by rabies and El Niño in 13 areas nationwide.

In a statement, the GSIS said over 77,000 affected members and old-age and disability pensioners are expected to benefit from the P1.7-billion allocation.

The pension fund said members and pensioners with an existing emergency loan balance may  borrow up to P40,000 to clear their previous loan and receive a maximum net amount of P20,000.

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

The loan carries an interest rate of 6% per annum with a repayment period of three years.

The GSIS said qualified applicants include members who are residing or working in Buenavista, Marinduque, where rising rabies cases have been reported, and several locations affected by El Niño, including Catbalogan City in Western Samar, Cordova, Naga City, and Toledo City in Cebu, Iloilo City, Buenavista in Guimaras, Bayawan City and Sta. Catalina in Negros Oriental, Antique, Basilan, and Datu Piang and Sultan sa Barongis in Maguindanao Del Sur.

“To be eligible for the emergency loan, active members must not be on unpaid leave, have no pending administrative or legal cases, and must have made at least six monthly premium payments prior to application,” it said.

“Their net take-home pay should not be less than P5,000 as required by the General Appropriations Act. Meanwhile, old-age and disability pensioners must have a net monthly pension that is at least 25% of their gross pension,” it said.

The pension fund said borrowers may file applications through the GSIS Touch.

The deadline for the submission of applications is on June 7 for Luzon areas, May 31 for Visayas, and June 1 for Mindanao.—RF, GMA Integrated News