GSIS offers COVID-19 emergency loan starting March 22

MANILA, Philippines—Starting on March 22, the state-run pension fund Government Service Insurance System (GSIS) will accept applications for its new COVID-19 emergency loan program.

Loan applications by active members and pensioners will be accepted until June 21, the GSIS said in an advisory.

The GSIS, however, said “members and pensioners who have previously availed of the COVID-19 emergency loan are no longer qualified.”

The GSIS offered the same loan program in 2020 as government employees and retirees struggled amid tougher times wrought by the pandemic.

In the case of pensioners and members who had borrowed for a different reason, like emergency loan offered by the GSIS for those hammered by Taal Volcano’s 2020 eruption, were qualified for the new COVID-19 loans.

The GSIS said qualified borrowers with existing emergency loans could borrow up to P40,000.

Members without any existing emergency loan, meanwhile, could borrow up to P20,000, the GSIS said.

Both disability and old-age pensioners may avail themselves of up to P20,000 under the new loan program.

The GSIS urged “contactless” loan applications through online channels like e-mail addresses listed on its website.

The GSIS will also accept applications submitted through drop boxes and so-called “Gwaps” kiosks at its offices nationwide.

The GSIS had temporarily closed its head office in Pasay City since last weekend to disinfect its premises amid surging cases of COVID-19.

TSB