THE Government Service Insurance System (GSIS) has set aside more than P22 million in emergency loan for its members and old-age and disability pensioners in the municipality of La Paz, Agusan del Sur who have been affected by floods and prolonged rains. The application deadline for the loan is on June 15.
Active members working or residing in the area are eligible to apply if they have no due and demandable GSIS loan, are not on unpaid leave, have paid premiums in the last six months before applying, have no pending administrative or criminal case, and have a net monthly take-home pay of at least P5,000.
Under the emergency loan facility, qualified members who have existing emergency loan may borrow up to P40,000 to pay off their previous emergency loan balance and enable them to receive a maximum net amount of P20,000. Those without existing emergency loan may apply for P20,000.
Pensioners may also apply, provided they are residing in La Paz and their net basic monthly pension is at least 25%.
Loan proceeds will be electronically credited to the borrower’s eCard or UMID card.
The GSIS emergency loan is payable in 36 equal monthly installments at 6 percent interest rate. It is covered by a loan redemption insurance, which deems the loan fully paid, in case of the borrower’s demise, provided the loan payment is up to date.
Members and pensioners may apply for the loan through the GSIS Touch mobile application, which can be downloaded from the Google Play and Apple App Stores.
