The Government Service Insurance System (GSIS) has earmarked around Php14 million in emergency loan for some 300 active members and old-age pensioners in Datu Piang, Maguindanao who were affected by flash floods that hit the municipality in November.
The deadline for loan application is December 27, 2016.
Emergency loan is payable in 36 equal monthly installments at 6 percent interest rate per annum computed in advance. It is covered by a loan redemption insurance, which deems the loan fully paid in case of demise of the borrower, provided that loan repayment is up to date.
Active members working or residing in the area are qualified to apply for the loan if they are not on leave of absence without pay, have no arrears in paying premium contributions, and have no unpaid loans for more than six months.
They may apply for a Php20,000 loan. If with existing emergency loan, they may avail of up to Php40,000, from which their outstanding balance will be deducted.
Active members may apply through the GSIS Wireless Automated Processing System (GWAPS) kiosks located in all GSIS branch 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, and SM Aura in Taguig.
Old-age pensioners in the area must apply in person to avail of the Php20,000 emergency loan.
Pensioners who are also active members (after having reentered government service) may apply for the loan only once.
Loan proceeds are electronically credited to the borrower’s GSIS eCard or unified multipurpose identification (UMID) card.