GSIS grants emergency loan-A A +A
Thursday, October 3, 2013
THE Government Service Insurance System (GSIS) announced the opening of emergency loan (EL) window to the more than 14,000 GSIS members working or residing in Zamboanga City and Lamitan City, Basilan.
The cities of Zamboanga and Lamitan were placed under state of calamity after the two places were separately attacked by Moro National Liberation Front (MNLF) rebels last Month.
Hundreds of MNLF rebels have infiltrated Zamboanga City last September 9, while a separate group of MNLF rebels backed by Bangsamoro Islamic Freedom Fighters and Abu Sayyaf bandits have also attacked last September 12 Lamitan City, Basilan.
The GSIS announced in a statement that it has allocated P101,040,000 funds for EL program in this city and in nearby Lamitan City in Basilan province.
It said the GSIS members may apply for the loan starting September 28 until October 27 in any GSIS branch office or through the GSIS Wireless Automated Processing System kiosk using their GSIS eCard or their unified multipurpose identification-compliant eCard.
Eligible members may borrow up to P20,000, which is payable in 36 equal monthly installments at six percent interest rate.
Renewal of loan may be made upon payment of at least 12 monthly amortizations but not earlier than the anniversary date of the previous loan.
Members can avail of the loan if they are not on leave of absence without pay; have no arrears in the payment of mandatory monthly contributions; and, have no loans that are declared in default.
The concerned members may visit any GSIS branch for more information on the program. (Bong Garcia/Sunnex)