GSIS members in typhoon-hit areas can avail of loan-A A +A
Saturday, December 8, 2012
STATE-owned Government Service Insurance System's (GSIS) said that it will grant emergency loan for its more than 345,000 members in Visayas and Mindanao who were adversely affected by Typhoon “Pablo.”
Emergency loan will be made available to GSIS members living or working in the following areas in Mindanao and Visayas: Misamis Oriental, Bukidnon, Lanao del Sur, Lanao del Norte, Misamis Occidental, Zamboanga del Norte, Camiguin, Surigao del Norte, Siargao, Surigao del Sur, Dinagat Province, Agusan del Norte, Agusan del Sur, Davao del Norte, Samal Island, Compostela Valley, Davao Oriental, North Cotabato, Zamboanga del Sur, Zamboanga Sibugay, Maguindanao, Bohol, Siquijor, Southern Cebu, Southern Negros Oriental, Southern Negros Occidental, Southern Leyte, Antique, Iloilo, Camotes Island.
"Under the GSIS emergency loan program, each eligible member may borrow P20,000, payable in three years in equal monthly installment. The initial payment for the loan will start three months after the loan drawdown," the state pension fund said.
Eligible members who may file for emergency loan include bona fide employees of the agency located in the declared calamity area or are resident of the declared calamity area; in active service and not on leave of absence without pay; have no pending criminal or administrative charges; have no arrears in the payment of mandatory social insurance contributions; and have no loan that has been declared in default.
Members may apply for the loan from December 7, 2012 to January 5, 2013, through the GWAPS kiosk using either the eCard or UMID eCard. Those with temporary eCards may apply over-the-counter in any GSIS office.
Meanwhile, GSIS said that members who have existing emergency loans may be allowed to renew their emergency loan after payment of 12 monthly repayments but not later than the anniversary date of the previous loan.
In August, the GSIS gave a supplemental budget of P10 billion for the Loan Program. (SDR)