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GSIS offers emergency dengue loans

By: - Reporter / @daxinq
/ 04:21 PM September 04, 2019

The Government Service Insurance System (GSIS) has offered emergency loans to active members and pensioners in areas reeling from a surge in dengue fever cases.

GSIS loan window was opened for members and pensioners from Samar province, Pontevedra and Sigma town in Capiz province and Sofronio Española town in Palawan province. These areas had been declared calamity-stricken because of dengue.

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In a statement, the pension fund said it allocated almost P633 million for emergency loans to members in these areas. Loan applications would be accepted until Sept. 22 for Pontevedra, Sigma and Sofronio Española.

Active members with no existing emergency loans and old-age pensioners may apply for a P20,000 loan. Those who have not yet fully paid their emergency loan may apply for a P40,000 loan, from which the outstanding balance will be deducted.

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Qualified to apply are active members who are working or residing in the calamity-declared areas, not on leave of absence without pay, have no arrears in paying monthly mandatory life insurance or social insurance premium contributions, and have no unpaid loans for more than six months.

They should also have a minimum net take-home pay of P5,000.

Active members may apply through the GSIS wireless automated processing system kiosks at all GSIS branches and extension offices; provincial capitols; city halls; selected municipal offices; large government agencies such as the Department of Education; Robinsons Malls; and selected SM City branches in North EDSA, Manila, Pampanga, Cebu, SM Aura in Taguig, SM Southmall in Las Piñas, and Mall of Asia in Pasay City.

Old-age pensioners must file their application over the counter to safeguard their identity. If they are also active members, they may apply for the loan only once.

Emergency loans are payable in 36 equal monthly installments at a 6-percent interest rate. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s death provided that loan repayment is up to date.

Loan proceeds are credited to the borrower’s GSIS electronic card or unified multipurpose identification card./TSB

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TAGS: application, Calamity, dengue, fund, GSIS, Loans, pensioner
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