The loan program covers 109,047 active members and old-age and disability pensioners residing or working in areas declared under a state of calamity or public health emergency.
The assistance aims to help affected households repair damaged properties, recover from illnesses and restore livelihoods disrupted by calamities.
Application deadlines
GSIS has set different application deadlines depending on the affected locality.
Applications will be accepted until Nov. 13 in Capiz; Nov. 20 in Camarines Norte, Camarines Sur and Naga City; and Nov. 28 in Agusan del Sur, and Las Nieves, Agusan del Norte.
Emergency loans also remain available in Cavite until Nov. 12 and Rodriguez, Rizal, until Nov. 16.
Loan amounts
Qualified members without existing emergency loans may borrow up to P20,000.
Those with outstanding emergency loans may apply for up to P40,000, with proceeds first used to settle their previous loan balance. The maximum net amount they may receive is P20,000.
The loans carry a 6-percent annual interest rate and are payable over three years.
Monthly amortization is P655.56 for a P20,000 loan and P1,311.11 for a P40,000 loan.
Eligibility requirements
Active members must have paid the required three monthly premium contributions within the prescribed six-month period and maintain a net take-home pay of at least P5,000.
They must also meet other eligibility requirements, including restrictions on unpaid loans, leave without pay and pending administrative or criminal cases.
Old-age and disability pensioners may qualify if their remaining monthly pension after loan deductions is at least 25 percent of their basic pension.
Applications may be submitted through the GSIS Touch mobile application, with approved loan proceeds credited directly to borrowers' ATM accounts. —Ed: Corrie S. Narisma
