GSIS grants P6B emergency loans for Kanlaon eruption, El Niño, ‘Aghon’ victims

GSIS
GSIS

THE Government Service Insurance System (GSIS) announced P6 billion in emergency loans to assist members and pensioners affected by the Kanlaon volcano eruption, El Niño, and Typhoon Aghon.

A total of 231,250 calamity victims will benefit from the program.

The deadline for application varies per location.

Those residing in Bohol, Capiz, and Kalibo (Aklan) can apply until July 4; residents of Cabanatuan City, Aborlan, El Nido (Palawan), and Quezon Province’s 1st and 2nd districts can apply until July 6; residents of San Andres (Romblon) until July 9; and residents of San Lorenzo, Sibunag (Guimaras), San Carlos City, San Enrique, and La Castellana (Negros Occidental) can apply until July 19.

Members who have existing loans may borrow up to P40,000 or P20,000 if they do not have existing loans.

The following conditions are required for eligibility: an active GSIS member; residing or working in the declared calamity area; no unpaid leave; with no pending cases; minimum of six months of premium payments; and maintain a net take-home pay of at least P5,000.

Old-age and disability pensioners in the affected areas may also apply, on the condition that they will maintain at least 25 percent of their net monthly pension after paying the amortization.

The loan offers a low interest rate of six percent and a three-year payment term. Applications can be submitted through the GSIS Touch mobile app, downloadable from the Google Play Store and Apple App Store. (Dana Gracielle P. Quirante, UP Tacloban intern)

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