GSIS allocates P1.7 billion for crisis emergency loans

GSIS Facebook page

By Francis Allan L. Angelo

The Government Service Insurance System (GSIS) announced the allocation of P1.7 billion in emergency loans for members and pensioners affected by the rabies and El Niño crises across the Philippines.

The move targets over 77,000 individuals in 13 regions, providing significant financial relief.

Members and pensioners with existing emergency loans can receive up to P40,000 to clear their current balances, netting a gain of P20,000.

Those without existing loans can apply for new loans up to P20,000. These loans come with a three-year repayment term and an annual interest rate of 6%.

Areas impacted include Buenavista in Marinduque, affected by a rabies outbreak, and regions suffering from severe El Niño conditions like Catbalogan City in Western Samar and various locations in Cebu, Iloilo, Negros Oriental, Antique, Basilan, and Maguindanao Del Sur.

Applicants must meet specific criteria: active members should not be on unpaid leave, have no pending administrative or legal cases, and must have made at least six monthly premium payments prior to the application.

Moreover, their net take-home pay should not fall below P5,000, adhering to the General Appropriations Act standards. Old-age and disability pensioners are required to have a net monthly pension that is at least 25% of their gross pension.

Application deadlines are set regionally, with Luzon applications due by June 7, Visayas by May 31, and Mindanao by June 1. Members and pensioners seeking to apply or needing more information can visit the GSIS Touch platform, the GSIS website, or contact them through their Facebook page and customer service center.

This emergency loan program underscores GSIS’s commitment to supporting its community through crises, helping ensure financial stability during these challenging times.

LEAVE A REPLY

Please enter your comment!
Please enter your name here