“We have relaxed the requirements for granting emergency loans. We now release them once a local sanggunian declares a state of calamity upon the recommendation of the Local Disaster Risk Reduction and Management Council,” said GSIS officer in charge, president and general manager Juliet Bautista.
Applications may be filed through the GSIS Touch mobile app, which Bautista said has already processed nearly all submissions online. The deadlines vary by locality: Oct. 5 in Quintin, Pangasinan; Oct. 7 in Sultan Kudarat; Oct. 10 in Atok, Benguet; Oct. 27 in Parañaque City; and Oct. 29 in Taguig City.
Loan terms and eligibility
Active members may borrow up to P20,000, or P40,000 if they have an existing emergency loan. Borrowers must have no due GSIS loan, not be on unpaid leave, have paid premiums in the last six months, have no pending case, and maintain a net monthly take-home pay of at least P5,000.
Old-age and disability pensioners are also eligible, provided they retain at least 25 percent of their monthly pension after loan deduction.
The loan is payable over three years with a 6 percent annual interest and no processing fee. It is covered by loan redemption insurance, which considers the loan fully paid in case of the borrower’s death, as long as payments are up to date. —Ed: Corrie S. Narisma.
