State pension fund Government Service Insurance System (GSIS) is offering emergency loan to active members, and old-age and disability pensioners working or residing in the provinces of Davao del Norte and Davao de Oro; and the municipalities of Caraga and Governor Generoso in Davao Oriental.
“Naglaan kami ng halos P814 million para sa 36,155 active members and 4,539 pensioners sa mga nasabing lugar na naapektuhan ng mga kalamidad tulad ng pagbaha at lindol. Bukas ang loan application hanggang May 27,” GSIS President and General Manager Wick Veloso said.
To qualify, active members must be residing or working in the calamity areas; not be on leave of absence without pay; have no pending administrative or criminal case; have at least three monthly premium payments within the last six months prior to application; have no due and demandable loan; and have a net take-home pay not lower than the amount required under the General Appropriations Act after all monthly obligations have been deducted.
Old-age and disability pensioners residing in the calamity areas may also avail of the loan as long as their resulting net monthly pension after loan availment is at least 25% of their basic monthly pension.
Members with existing emergency loan balance may borrow up to P40,000 to pay off their previous emergency loan balance and receive a maximum net amount of P20,000. Meanwhile, pensioners and those without existing emergency loan may apply for a P20,000 loan.
“Hinihikayat namin ang members na gumamit ng GSIS Touch app para mag-loan. Mabilis, maginhawa, at ligtas ang application dito,” Veloso said.
The emergency loan is payable in 36 equal monthly installments with a 6% interest. It also has 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.
“Maliit lang ang buwanang hulog para rito, P655.56 para sa P20,000 loan at P1,173.20 para sa P40,000 loan,” Veloso said.