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GSIS extends emergency loan assistance to ‘Ursula’ victims

By: - Reporter / @bendeveraINQ
/ 12:55 PM January 24, 2020

MANILA, Philippines — The state-run pension fund Government Service Insurance System (GSIS) has extended emergency loan assistance in four areas battered by Typhoon Ursula last December.

On its website, GSIS said members living or working in the following areas, which had been placed under a state of calamity due to Ursula, were eligible for an emergency loan: the provinces of Biliran, Capiz and Western Samar, as well as Guiuan town in Eastern Samar province.

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The granting period started on January 21 and will end on February 19.

GSIS had also made available emergency loans to victims affected by the eruption of Taal Volcano in the provinces of Batangas and Cavite.

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Separately, GSIS said in a statement that members and pensioners whose livelihood were damaged by Typhoons Quiel and Tisoy late last year can dip into P2.1 billion in emergency loan assistance.

“A total of 103,213 active members and old-age and disability pensioners in the following areas may apply for the P20,000 emergency loan: Cagayan, Albay, Marinduque, and Camarines Sur, including Naga City; and municipalities of Sta. Maria in Romblon, Bulalacao in Oriental Mindoro, Palauan in Occidental Mindoro, Famy in Laguna, and Kalayaan in Palawan,” GSIS said.

“The application deadline for Cagayan is February 2, 2020, while that for the remaining eight areas is January 26, 2020,” it added.

“The GSIS emergency loan is payable in 36 equal monthly instalments at 6-percent interest rate computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of the borrower’s demise, provided that loan payment is up to date,” according to GSIS.

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