GSIS offers emergency loans in six regions battered by Odette GMA News Online

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

In a statement, 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 Visayas), and 13 (Caraga), as well as old age and disability pensioners residing in these regions, can apply for the loan.

The pension fund said qualified borrowers with an existing emergency loan can borrow up to 40,000 pesos to pay off their previous emergency loan balance while receiving a maximum net amount of 20,000 pesos.

Those who do not have an existing emergency loan can apply for P20,000.

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

It is also covered by loan repayment insurance, which considers the loan fully repaid in the event of the borrower’s death, provided the loan payment is up to date.

Members who are on active service and not on leave without pay are qualified to apply; not have any administrative or criminal case in progress; and have a net salary of not less than 5,000 pesos after deducting all required monthly obligations.

“Those with due and payable loan accounts (over six months in arrears) are now allowed to renew their previous emergency loan from another calamity,” GSIS said.

The pension fund said members with at least three months of contributions paid in the last six months before the date of application can already apply.

During this time, old age and disability pensioners can apply for the loan if their resulting net monthly pension after using the loan is at least 25% of their basic monthly pension.

“For all loan borrowers, you can submit contactless applications with contactless methods: a new web-based system with electronic GSIS online membership (eGSISMO); by email; o its nasa drop box puts pressure on the GSIS offices, ”said Rolando Macasaet, president and CEO of GSIS.

(For the safety of our borrowers, they can submit their application by contactless methods: through our electronic online system GSIS Member Online (eGSISMO); by e-mail; or at drop boxes in the halls of GSIS offices .)

If borrowers choose to use email when applying, they should send the requirements to their branch email address.

The full list of GSIS email addresses can be found at https://www.gsis.gov.ph/contact-gsis/.

Active members also have the option of submitting their loan applications through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS offices, Ministry of Education offices, provincial capitals, town halls. , municipal offices, Robinsons shopping centers and some SM Supermalls.

“However, we ask for understanding and patience as most offices have intermittent internet connection and electricity to facilitate processing of requests. Rest assured that loan requests will be processed as quickly as possible, ”Macasaet said.

The loan proceeds are credited directly to the borrower’s GSIS electronic card (eCard) or unified multi-purpose identification (UMID) card of the borrower, the pension fund said. – DVM, GMA News

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